Practical Confucian Wisdom and Entrepreneurship Development and Training

Abstract

This paper proposes a Confucian wisdom perspective to study entrepreneurship practice in the Chinese transition economy. It argues that existing research on Chinese entrepreneurship has not paid adequate attention to qing (positive affects), which is an integral part of Confucian wisdom. It is essential to investigate qing and its interaction with li (reason relating to rules and regulations) and cognitive processes within the institutional context of the transition economy. To address this issue, this paper integrates traditional practical Confucian wisdom and Western institution theory to develop a theoretical framework for understanding practically wise entrepreneurship in China. The model is applied to the analysis of interview results with Chinese entrepreneurs, who indicated that they applied Confucian wisdom in starting up and developing their businesses. This finding has theoretical and practical implications for entrepreneurship development and training.