Well-being of Developing Regions

Innovative culture is made rich through the work and vision of social entrepreneur - Mike A.

According to Cato's "Economics and Environment", a knowledgeable entrepreneur can use the power of information to make informed decisions.  An idea that has worked well in US may not be practical for a developing third-wold nation.  As entrepreneurs we must educate ourselves on cultural diversities, global socio-political environments and their effect on world-economy.  Using the tools and resources available in a particular region and taking time to educate the indigenous population, in my opinion are essential activities an entrepreneur who seeks to develop that economy, must consider.

Some may ask can entrepreneurial activity stimulate economic growth and job creation in a global sense?  According to  Parker's "The Economics of Entrepreneurship" the answer is yes.  But Sarasvathy in "Entrepreneurship as Economics with Imagination" warns that a narrow definition of entrepreneurship can be damaging to our goals and aspirations.  As entrepreneurs we are not only raising economies, but also affecting a whole host of systems within various regions that benefit developing economies.