The aim of this book is to analyze the quality of
entrepreneurial management and economic development in the Latin
American region from a microeconomic point of view. It seeks to
explain the Latin American way of business management as well as
envision ways in which Latin American businesses can increase
productivity and innovation in order to successfully compete in the
global market.
Latin America comprises nearly 8.5% of the global population and
represents over 8% of the global GDP, yet it is home to only 12 (or
less than 2.5%) of the world s 500 largest companies. In this
volume, the author analyzes the unique dynamics of Latin American
corporate culture to consider the particular obstacles to more
successful performance. Drawing evidence from dozens of companies
across the eight largest Latin American economies, he notes that
Latin American companies have evolved in the context of a highly
aristocratic and oligarchic society, dominated by patriarchal
families from the upper classes. Corporate structure, especially in
family-owned companies, is based largely on patronage and privilege
and often characterized by unnecessary hierarchy, redundant
responsibilities and poor communication and information management
systems.Operating in relative isolation, with little incentive to
invest in innovation to compete against foreign products has
reinforced this conservative culture.
Taking a fresh perspective that focuses at the firm level, with
an emphasis on corporate administration, the author presents a
compelling explanation for Latin America s delay in economic
development and offers insights for promoting innovation and
entrepreneurship, identifying promising industrial sectors and
improving productivity and competitiveness on the global
stage."
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