Kenneth R. Gray

MOTIVATIONS OF MOROCCANS TO BE ENTREPRENEURS

Throughout the world, entrepreneurship is viewed as a savior of stagnant economies (Tiffin, 1987; Gupta, 1989; Meredith, 1989; Giamartino, 1991; Guthrie, 2004). This study investigates the motivation of Moroccans to become entrepreneurs. It provides an overview of entrepreneurial theory, describing common characteristics and motivations of entrepreneurs worldwide. This is followed by an analysis of the Moroccan business environment. A model of Moroccan entrepreneurship is then developed. The data used to determine the relevant model factors were gathered from a survey conducted among 201 Moroccan entrepreneurs.

A Cross-Cultural Perspective on Management in Kenya

ABSTRACT The management discipline is largely populated by models embedded in western cultural views and values. This paper addresses the generally misplaced confidence of management scholars in utilizing western culture-based models of management to analyze management practices and perspectives in African countries. This paper starts with the premise that management is, at its core, a cultural practice that is derived from a cultural value system. As such, exporting US/western management models and practices abroad requires adaptation to local cultural dynamics and socioeconomic conditions. Furthermore, with western management models using nation-state as a unit of analysis to analyze culture, there is an assumption that all peoples (and localities) within a national culture are isomorphic in their value systems. From a cross-cultural management perspective, this is not only misleading but problematic because, by implication, international managers ignore internal cultural differences and dynamics and how various cultural groups interact with foreign businesses. This study argues that an informed understanding of a nations sociopolitical history, economic conditions, geography, and internal cultural dynamics is crucial for international managers working in Africa. Using Kenya as an example, the study discusses the misplaced application of western culture-based management models and proposes a culturally-integrative framework of management.

Financial Bubbles and Business Scandals in History

Abstract This article is a survey of corporate scandals and some of the leading figures associated with them throughout the history of the joint-stock company. We find that great waves of exploration and innovation have been seen to propel speculative ventures that often prove worthless (hence the name “bubble”) and give rise to financial scandal. A look at some of historys more infamous financial bubbles provide numerous insights that are relevant today. There have been numerous bubbles that arose from the enthusiasm generated by world exploration, and from the land-grabs that followed during the era of colonialism. The discovery of new territories initiated speculative bursts of capital expansion that produced both the South Seas and the Mississippi Company bubbles. Two centuries later, the steam engine and the railroad boom created an investment bubble that was not unlike the technology bubble of the 1990s. The rise of big business at the turn of the 19th century heralded new efforts by the government to protect consumers and investors. Interestingly, there is usually an overreaction to bubble scandals, which produces legislation that curtails overly accelerated innovation and economic activity. This was the case during the stock market crash of 1929, and once again with the high-tech bubble of 2001. However, having not been completely addressed, conflicts of interest, corruption, and fraud remain and flourish even today.

Women Entrepreneurs in Morocco: A Preliminary Investigation

In the global marketplace, women entrepreneurs are a vibrant and growing economic force. As the number of women in self‐employment is increasing in most countries, typically entrepreneurial women are still a small proportion of the total population. This article examines women entrepreneurs in the Kingdom of Morocco. Factors enhancing and inhibiting Moroccan women entrepreneurs discussed include socio‐cultural and religious; family background; education; and work experience. Challenges women face in the informal sector are also surveyed. The conclusions drawn from the article include the objective of increased self‐sufficiency as a central goal of intervention programmes. Strong womens organisations and networks must be an important part of any strategy of empowerment.

Emerging securities exchanges in Africa: Institutional characteristics of the Nairobi Stock Exchange

ABSTRACT African securities markets have not received the academic attention of those in Latin America and Southeast Asia. Historically, capital markets have not played a significant role in financing the development of the African economy. Today, however, African governments are focusing on the importance of moving toward more market-oriented economies and developing the financial market infrastructure to mobilize funds from both the private and public sectors. This paper describes the institutional characteristics of a newly revitalized stock exchange in Nairobi, Kenya. The study concludes that historical and cultural factors play a significant role in the characteristics of the Nairobi Stock Exchange.

Management and national development in Kenya: toward a normative framework

Purpose – This paper aims to propose a normative framework focusing on the need to enhance the roles of the four fundamental environmental forces of management – socio‐demographic, techno‐economic, politico‐institutional, and cultural. The objective is to create a business climate of certainty so that Kenya can achieve its goals of national and private sector development and of elevating its global competitiveness in terms of foreign direct investment and exports.Design/methodology/approach – The paper uses secondary data to describe Kenyas development goals, its current level of private sector development, its position in the global economy, and the historical and cultural dimensions of its management practices. Against that backdrop, the article combines systems thinking and broad‐based reasoning to develop a normative management framework for policy makers and for domestic and international business managers. After using data to describe Kenyas status with respect to the four environmental forces, th...

Cultural Exploration and Understanding: A Framework for Global Business

Growing business competition demands that companies demonstrate cultural responsiveness to establish competitive advantages in the global market where a heightened sense of national/ethnic identity is on the rise (Holden 2002). This is true whether a company is “going global” to extend its market (consumer focus) or to relocate production (to reduce operating costs), and whether the company adopts a multicountry or multidomestic strategy (i.e., operating relatively autonomous business units in multiple countries) or a global strategy (operating business units in multiple countries using standardized products and business practices) to expand globally (Yip 2003). Yet the treatment of culture in the business literature thus far has largely ignored the complexities of culture, opting for broad generalizations that amount to sophisticated stereotypes and misconceptions, often leading to poor business performance or even failure. To address this tendency, we propose a multitiered framework of cultural exploration and understanding. Although it is proposed in the context of global business, the framework can be applied in other contexts, in that it portrays a more complete picture of cultural landscapes.