South Korea’s economic growth since the 1960s has been remarkable, transforming from a low-income agrarian society to a thriving, high-income industrialized economy. Research has shown that government policies played a crucial role in this transformation, mainly through strategic investments in physical and human capital and export promotion strategies. In addition, a focus on technological research and development helped to create a competitive advantage in the export market and cultivate a highly educated workforce.

Entrepreneurship has a complex history in South Korea, with cultural values and traditions significantly shaping the country’s entrepreneurial landscape. Confucianism, a religion and philosophy emphasizing education, hard work, and community loyalty, has been a driving force behind South Korea’s cultural value system and has influenced its society for generations. Despite this, there has been relatively little research on the connection between cultural context and entrepreneurship in South Korea.

However, a new academic paper to be published in July 2023 by the International Council for Small Business (ICSB) seeks to address this gap in our understanding. The paper will explore the historical evolution of Korean entrepreneurship, focusing on the role of Jo Shik, a renowned Confucian scholar during the Joseon dynasty, and the city of Jinju in South Korea. The authors argue that these factors were instrumental in shaping the development of Korean entrepreneurship and that understanding their influence is crucial for understanding the country’s entrepreneurial landscape today. 

This paper will be the first academic publication on the history of Korean entrepreneurship in Confucian culture to be published in a Western academic journal. It promises to shed new light on this fascinating topic.

Evans, P., & Rauch, J. (1999). Bureaucracy and growth: A cross-national analysis of the effects of “Weberian” state structures on economic growth. American Sociological Review, 64(5), 748-765.

Rhee, J., Park, T., & Lee, D. H. (2010). Drivers of innovativeness and performance for innovative SMEs in South Korea: Mediation of learning orientation. Technovation, 30(1), 65-75. https://doi.org/10.1016/j.technovation.2009.04.008.

Artificial Intelligence (AI) has revolutionized how we learn and access information. However, it is crucial to create a supportive learning environment where students feel comfortable asking questions and seeking guidance on how to use AI-powered tools effectively. Faculty should support students using AI through the Socratic method and video-based learning.

The Socratic method is a teaching method that encourages critical thinking and active engagement. The technique involves asking questions to stimulate students’ thinking and help them develop their ideas. In a Socratic classroom, the teacher guides the discussion and encourages students to explore ideas and challenge assumptions.

Using ChatGPT as an example, a teacher can use the Socratic method to engage students in a discussion about the information generated by the tool. For instance, a teacher could ask the students to develop a prompt and then tell ChatGPT to create a response. Afterward, the teacher could ask the students to analyze the response and evaluate its accuracy, reliability, and relevance. The teacher could then ask follow-up questions to help students understand the context and meaning of the answer.

Video-based learning, on the other hand, leverages multimedia content to enhance the learning experience. Videos can supplement lectures and give students a more engaging and interactive learning experience. Teachers can use videos to explain complex concepts, provide real-world examples, and offer visual aids that support learning.

It is common for students to feel apprehensive about using AI-powered tools such as ChatGPT, especially when they are unsure about how to use them correctly. However, instead of punishing students for using these tools, educators should teach them how to use them correctly and ethically. In addition, students should learn the importance of referencing and citing sources using AI-generated content. By doing so, we can help students develop critical thinking skills and encourage them to engage with technology responsibly and ethically.

In conclusion, AI is a powerful tool that has the potential to transform the way we learn and access information. Faculty should support students using AI through the Socratic method and video-based learning. The Socratic method can encourage critical thinking and active engagement, while video-based learning can provide students with a more engaging and interactive learning experience. By teaching students how to use AI-powered tools such as ChatGPT correctly and ethically, we can help them develop critical thinking skills and use technology to enhance their learning and growth.

by: Ayman ElTarabishy, President & CEO, ICSB
Deputy Chair, Department of Management, GWSB

Attention all researchers, educators, changemakers, and entrepreneurs! Get ready for the biggest event of the year, the ICSB World Congress 2023, in the stunning city of Gwangju, South Korea, from July 9-14!

 This year’s congress promises to be a game-changer, bringing together some of the brightest minds in entrepreneurship to explore the latest developments in entrepreneurship for humanity and peace.

One of the most anticipated events at the congress is the ICSB Best Paper Award Nominees. These exceptional papers represent the forefront of SMEs, entrepreneurship research, and innovation, showcasing groundbreaking ideas and cutting-edge insights shaping the future of business. With abundant talent and creativity on display, the competition is bound to be intense as these nominees battle it out for the top prize.

But that’s not all. The ICSB World Congress 2023 is jam-packed with an exciting line-up of keynote speakers, panels, and workshops exploring entrepreneurship’s transformative power for humanity and peace. Whether you’re a seasoned entrepreneur or just starting, this is the perfect opportunity to connect with like-minded individuals, gain valuable insights into the latest trends and innovations in entrepreneurship, and explore new ways to impact the world positively.

And there’s no better place to do it than in the stunning city of Gwangju, South Korea. With its rich culture, fascinating history, and breathtaking natural scenery, Gwangju provides the perfect backdrop for this world-class event. From exploring the city’s museums and galleries to sampling its delicious cuisine and nightlife, there’s something for everyone in this dynamic and vibrant city.

So join us for the ICSB World Congress 2023 in Gwangju, South Korea, and discover how entrepreneurship can be a force for humanity and peace. With its inspirational speakers, cutting-edge research, and exciting activities, this is an event you won’t want to miss!

The Early Buzz on Submissions Grabbing the Attention of the ICSB Review Panel:

• The impact of cognitive ambidexterity and ambidextrous leadership on new product performance by Yu You Chen and Hsing Er Lin
• Towards an ecosystem logic: an entrepreneurial approach to engaging stakeholders in complementary activities by Carlos DaSilva 
• Towards a Social Enterprise Wellbeing Framework by Nadeera Ranabahu and Sussie Morrish
• Entrepreneurship Education using Computational Thinking – A Project for the Implementation of Hackathons in Secondary-Level-Schools by Bernhard Standl, Claudia Wiepcke and Ewald Mittelstaedt
• Refugee Family Business and Stakeholders in the Entrepreneurial Ecosystems: A Collaborative Model by Meena Chavan, Francesco Chirico, Muhammad Alam and Christina Theodoraki
• Configuring Sharia complaint venture capital system through social construction approach by Khurram Shari
• Which Dimension of Transformational Leadership will be the Most Powerful in Generating Innovative Behavior in Entrepreneurial Context? By Jae Hyeung Kang, Ali Alshehri, Ravi Ramani and Jungmin Nam
• MIGRANT ENTREPRENEURS IN THE MIDDLE EAST: A DYNAMIC LEARNING PERSPECTIVE by Nadeera Ranabahu and Maryam Fozia
• Are interactions of good things really good? The moderating role of entrepreneurial orientation in open innovation and innovation performance by Jae Moon Kim and Ji-Hoon Par
• Entrepreneurship Education as a strategic lever in fostering student entrepreneurship: a focus on pedagogical methods and impact indicators by Chiara Crudele, Rosangela Feola, Massimiliano Vesci, Roberto Parente and Antonio Bot
• Humane Entrepreneurship Implementation in Indonesia SME’s Case Study in West Java Indonesia SME’s by Banowati Talim 
• Corporate social responsibility and COVID-19: A case study from a family-owned printery by Michael Kuttner and Barbara Fürthner
• How could SMEs integrate sustainability into their organizational culture? : A Female Leader in Waste management and recycling Industry by
  Atsushi Kato
• Industy 4.0’s technologies-based sustainable innovation practices in the cosmetics industry: toward a circular business ecosystem 4.0 research program by Andre Nana, Ransome Bawack, Gwenola Yannou-Le Bris and Richard Daniellou
• The efficacy of efficacy measures in entrepreneurial ecosystems assessment by Gabi Kaffka, Norris Krueger and Enkhzaya Nergui

The Deadline to Submit Your Paper or Workshop is May 15, 2023.

SUBMIT HERE

Do Not Miss Out!

Micro, Small, and Medium-sized Enterprises (MSMEs) are vital in creating jobs, reducing poverty, and driving economic growth, particularly in developing countries. MSMEs are businesses with fewer than 500 employees and generate less than a certain amount of revenue, depending on the country. To recognize the contributions of MSMEs and raise awareness about the importance of supporting them, MSMEs Day is celebrated annually on June 27th. In addition, the United Nations General Assembly designated the day in 2017 to align with the Sustainable Development Goals (SDGs).

The SDGs are 17 goals adopted by the United Nations in 2015 to promote sustainable development and address global challenges such as poverty, inequality, and climate change. Achieving the SDGs, including Goal 1 (No Poverty), Goal 8 (Decent Work and Economic Growth), and Goal 9 (Industry, Innovation, and Infrastructure), requires the active participation and support of MSMEs.

MSMEs face challenges, including increasing competition, changing consumer preferences, and technological disruption. To address these challenges, MSMEs can adopt a human-centered approach. This approach involves understanding the needs and preferences of customers, employees, and other stakeholders to improve products, services, and operations. By adopting a human-centered approach, MSMEs can create more effective and user-friendly solutions, resulting in greater efficiency, productivity, and a positive user experience.

The International Council for Small Business (ICSB) is a non-profit organization that supports the interests of MSMEs globally. The ICSB was founded in 1955 and has been instrumental in advancing research, education, and programs that promote small business growth and development.

MSMEs Day provides a significant opportunity to recognize MSMEs’ contributions and raise awareness about the challenges and opportunities facing these businesses. The ICSB, under the leadership of Ayman ElTarabishy, will continue to play a critical role in supporting and supporting MSMEs globally and advancing initiatives and programs that promote small business growth and development.

Looking to the future, MSMEs will need to remain agile, adaptable, and innovative to succeed in an ever-changing landscape. By embracing innovation and a human-centered approach, MSMEs can positively contribute to the global economy and society. MSMEs Day provides an opportunity to recognize the contributions of MSMEs to the global economy and to raise awareness about the importance of supporting them to achieve the SDGs and promote sustainable development.

Macroeconomics is a branch of economics that studies how an overall economy—the markets, businesses, consumers, and governments—behaves. The focus is on metrics on output, not on the individuals who carry out the tasks to make these sectors work. On the other hand, human rights connect us through a shared set of rights and responsibilities. Every person has value and dignity.

In entrepreneurship and policymaking, two approaches are often used to address the needs of individuals and communities: human-centered and people-centered. While they share a common goal of improving the well-being of people, there are significant differences between the two approaches.

People-centered approaches tend to prioritize the needs and concerns of specific groups or communities, while human-centered approaches prioritize all individuals’ fundamental needs and values. While both approaches have benefits and drawbacks, it is essential to understand the distinctions to determine which method is appropriate for a given situation.

For example, consider the case of small businesses. A people-centered approach to small business policy might focus on the specific needs of small business owners and their communities, such as access to capital, tax incentives, and workforce development programs. While this approach can effectively address the concerns of small business owners and their communities, there may be more effective ways to ensure the long-term sustainability and growth of small businesses.

On the other hand, a human-centered approach to small business policy would prioritize the fundamental needs and values of all individuals involved in the small business ecosystem. This might include fair labor practices, environmental sustainability, and equitable access to resources and opportunities. A human-centered approach to small business policy can create a more sustainable and reasonable ecosystem for small businesses by prioritizing these fundamental needs and values.
It is important to note that a human-centered approach does not oppose the interests of specific groups or communities. Instead, it seeks to ensure that their interests are aligned with the interests of all humans and the greater good. By focusing on the well-being of all individuals involved in a particular ecosystem, a human-centered approach can create a more just and equitable society for everyone.

 
To achieve a more sustainable and equitable future for small businesses, it is crucial to adopt a human-centered approach that prioritizes the well-being of all individuals, regardless of their background or affiliation. As the world moves towards achieving the United Nations’ Sustainable Development Goals (SDGs), we must shift our focus towards implementing people- and human-centered policies.

At the International Council for Small Business (ICSB), our focus on human-centered policies for MSMEs aligns with the UN SDGs and our commitment to sustainability. By prioritizing the needs and well-being of individual entrepreneurs and their communities, we can create a more prosperous and equitable future for all. Through our research, programs, and networking efforts, we aim to promote policies and strategies that prioritize the human element of small business ecosystems, ultimately leading to a more sustainable and equitable future for all.

For ICSB, being Human Centered is synonymous with promoting Humane Entrepreneurship. Humane Entrepreneurship is an approach to entrepreneurship that prioritizes the well-being of individual entrepreneurs and their communities. It seeks to create sustainable and equitable ecosystems that are profitable and socially responsible. Humane Entrepreneurship creates an environment where businesses can thrive, and communities can prosper by prioritizing the fundamental needs and values of all individuals involved in a particular ecosystem. ICSB believes that a human-centered approach to entrepreneurship, grounded in the principles of Humane Entrepreneurship, is essential to creating a more just and equitable society for everyone.

Ultimately, a human-centered approach is not only essential for sustainable development and social progress, but it is also a moral imperative. We must create a world that prioritizes all individuals’ well-being and fundamental needs, regardless of their background or affiliation. So let us work together to create a more just and equitable world where all conditions are met, and everyone has the opportunity to thrive.

Written by:
Dr. Ayman ElTarabishy
President & CEO, ICSB
Deputy Chair, Department of Management
GW School of Business