A business is like a cake or any other item prepared in a kitchen—it needs a recipe with several key ingredients to “come out just right.” The master chef is the entrepreneur who is the driving force pursing value for consumers. The two essential factors that an entrepreneur “orchestrates” for a company to survive—and thrive—are capital investment and a productive workforce. Additional key ingredients include a reliable supply chain and vital external factors such as reasonable regulations, and tax and trade policies that do not encumber business operations.1 And of course an economy needs a financial system that makes it possible for entrepreneurs to raise funds for both long- and short-term needs. A major ...
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