Dominican entrepreneur accepts business risk, but suffers from an adequate climate
SANTO DOMINGO. -The Dominican entrepreneur can be described as professionals with two personality traits: passion and acceptance of risk. In addition, as competencies they develop the entrepreneurial orientation more specifically in the creativity, the generation of ideas and proactivity.
This is demonstrated by the study "The Dominican entrepreneur: identification of their personality traits and skills through content analysis", prepared by Fernando Barrero, Eric Moreno and Javier Villamizar, and published in the journal Science, Economy and Business of Instituto Tecnológico de Santo Domingo (INTEC).
La research projects. which focuses on the results of the information collected by students of the MBA of Barna Management School, highlights that the Dominican entrepreneurs decide to open new business in your country, usually in competitive markets, but without fear of failure.
“These competencies are consistent with the findings of the recent measurement of Global Entrepreneurship Monitor 2019where it was found that the 75% of Dominicans are considered with the enough skills to start a new business, this value is the highest compared to the countries of Latin America and the Caribbean and the second against the other 50 participating countries. ”
In addition, the research highlights that only one 12% of Dominican entrepreneurs interviewees perceived fear of failure to undertake, the lowest level of all the countries evaluated, and persistence prevailed within the conceptual and relationship competences.
Despite this, the researchers establish that only a part have operational and contextual competences, since most do not carry out market research prior to innovation processes, nor do they design a structured business plan.
"The recent information from the Global Entrepreneurship Monitor shows that the Dominican Republic lacks an adequate entrepreneurial environment, so that the initiatives of those who risk their capital in new ventures achieve a successful result," says the publication.
Barrero, Moreno and Villamizar, highlight that the GEM report (Barna Management School and Ministry of Industry, Commerce and Mipymes, 2019) shows that the government's policies and its support programs, as well as the level of transfer of research and development in the country are insufficient to allow a greater competitiveness of new companies.
The research concluded that Dominican entrepreneurs are characterized by presenting, to a greater extent, commitment to capitalize on the human talent that surrounds them, a principle proposed by Saras Sarasvathy.
"In the second instance, a part of the entrepreneurs is related to the principles of" lemonade "and" bird in hand ", which refer to taking advantage of the contingency instead of avoiding it, and achieving the commitment of the different actors in the entrepreneurship process ”, highlights the research.
Recommendations
One of the recommendations made by the researchers was the design and development of teaching and knowledge transfer models, from primary education, to higher education at the research and development level, “to offer the population of new Dominican entrepreneurs an ecosystem adequate entrepreneur, to facilitate their processes of generating business, jobs and, therefore, continue with their contribution to the economic growth of the country ”, highlights the document.