Wednesday, February 01, 2006

Why a wide perspective is needed to be successful

In developing countries, there are many opportunities. Are local entrepreneurs or outsiders more likely to be successful? In practice we find that both are often successful. One of the most attractive ways is by "the transfer of success."

This means that the entrepreneur identifies an opportunity which has been successfully addressed in another country, and translates the solution to the developing country. The translation is key. In most cases, you cannot simply implement it unchanged. As in any translation, you need to be fluent in both cultures. Since the solution could come from any of many countries, the most likely to be successful is someone who knows the culture of the developing country, and many other cultures. Is what made it successful based on a cultural uniqueness?

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