Article Synopsis Essay Example | Topics and Well Written Essays - 500 words

Article Synopsis - Essay Example The study offers the conclusion that Asian businesses cannot be generalized on the basis of cultural factors since many of them cater to mainstream markets. However, the second generation of Asian entrepreneurs faces a different set of challenges when compared to its elders. Having had the benefits of upbringing in the UK, the younger generation of entrepreneurs has a different mindset and opportunity when compared to its elders’ cultural experiences and practices. The success of Asian business community in the UK has turned it into an entrepreneurial role model for other immigrant communities. This is based on the fact that this ethnic group makes a significant contribution to the UK economy, arguably, even more than the mainstream community. The paper attempts to find out if cultural experiences and practices can be used to classify the success of Asian businesses. Previous studies state that it is their cultural background and practices, which give them the edge when it comes to successful businesses. Their competitiveness arises from the fact that they can use family resources in terms of labour and specialist knowledge and use ethnic network effectively for business development. The study attempts to find out if these factors can be used to determine the reason for their successful ventures. The researchers employed a semi structured qualitative approach for data analysis. Data was collected in the form of interviews with ten leading Asian entrepreneurs in the UK. Questions were framed after referring to previous literature and academic advisors. Data was also collected through e-mails and reports for a greater understanding of the subject. Moreover, interviews were recorded and transcribed to facilitate independent interpretation for the two researchers. Secondly, since one researcher represented the Asian community and other, the host community they were able to provide varied cultural perspectives to the data analysis. The researchers concluded that