Organisations have a perfect 'habitat' where they will flourish and environments in which they will fail . Business type, potential customers and resources will limit the choice of suitable location . Success lies in identifying which location falls under which category. "Choosing the right location can be one of the most important business decisions that you will make" . Hall stresses location importance when searching for creativity and innovation. He describes creativity as a 'knock on effect', causing innovation to spread, similar to Silicon Valley.
Entrepreneurship is taken from the French 'entreprendre', translated as 'go-between' or 'to undertake' . Kao defines entrepreneurship as, "The attempt to create value through recognition of business opportunity, the management of risk-taking appropriate to the opportunity, and through the communicative and management skills to mobilize human, financial, and material resources necessary to bring a project to fruition" .
Entrepreneurs are an important part of modern society .
The 21st century has presented many new challenges to business, markets are dynamic and change rapidly, due to increasing consumer awareness. Large organisations are often slow to react, whereas entrepreneurial ventures are flexible. Some argue that we are undergoing 'hyperchange' , "...changes that come more quickly; are more dramatic, complex, and unpredictable, and have a more significant impact on the way organizations are managed than did the changes of the past" . Countries must meet entrepreneurial requirements to attract new ventures to their economy. "Collective values and available infrastructure...either support or inhibit its (entrepreneurship) emergence" .
Hong Kong has transformed from a small fishing village "into a major financial and commercial centre in the Asia-Pacific region by the late twentieth century" . Paradigmatic economic changes occurred within, and around the region to cause this. The Asian crisis in 97 had a major impact on...