Trust, Entrepreneurship, and the Developing World

Entrepreneurs with great ideas to address problems and opportunities in developing countries cannot rely on the usual foundations—laws, regulatory oversight, and government protections—as they might in the developed world, because such foundations are incipient or don’t even exist. Good ideas from such countries can easily morph into failed ones—coupled with acrimony and mistrust—if an entrepreneur inadvertently presumes on the sustenance of phantom, trust-enhancing societal foundations. Rather, the entrepreneurial solution is to embrace the situation and to explicitly focus on nurturing ...

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