Entrepreneurship in Egypt and the US compared: directions for further research suggested

Abstract

PurposeThe purpose of this paper is to examine entrepreneurship in Egypt, an Islamic society in transition to a free market, and makes general comparisons with entrepreneurship in the United States, a secular society with a highly developed market economy.Design/methodology/approachAmerican and Egyptian entrepreneurial differences are discussed within a number of themes related to cultural and environmental factors: the transition to a free market including transparency; money and its cultural meanings; locus of control; attitude towards risk; and work‐life equilibrium.FindingsThis paper argues that social and economic changes and environmental adversity, such as competition, which accompany the transition to a free market, create pressure on the emergent market (Egypt) to adopt a model of environment that is hospitable to entrepreneurs who seek to create new organizations or implement change through new organizational and programmatic initiatives.Practical implicationsManagers in an emergent market who are trying to improve competitiveness and efficiency should be aware of how most people from specific cultures value money, and also be aware of cultural differences with regard to the importance and the role of money.Originality/valueIt may be that insufficient attention is given to the relationship between entrepreneurial characteristics and national culture, as well as structural elements influenced by or directly related to culture. This paper attempts to bring some light to this issue.