Iakovleva2005RTIMP

The importance of small enterprise to the economy is now widely recognized not only by the western industrialized world, but also by many countries, which formally had socialistic forms of government. Former communist countries as well as less developed countries that are working to fuel their economies are expending considerable effort to foster entrepreneurship (Kasadara, 1992).

While entrepreneurship research has a history in the twentieth century focusing on entrepreneurs and their enterprises in the Western countries, the aspects of entrepreneurship in the East with collectivist orientation have recieved limited attention. There is a real lack of understanding about entrepreeurship in Russia, the country that Winston Churchill called a “riddle wrapped in a mystery inside an enigma” (Ageev, Gratchev, & Hirich, 1995). It is important to clarify, whether Western theories are generally applicable in emerging economy environments and whether existing concepts permit development of new concepts or modification of old ones (Hoskisson, Eden, Lau, & Wright, 2000).

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