Abstract
M.Phil.
Worldwide governments and organisations are restructuring, creating the integrated society and global network. According to Handy (1996:23) it is happening before our eyes: 'A vast reconfiguration of world of work. The entire floors of office building are emptying, whole layers of management are going out the window, full echelons of support staff are being told to support themselves'. The world of work is therefore changing and the power behind this move is heightened competition in the global market place where government and companies strive for the implementation of the 'best business practice'. Competition is forcing organisations to slim down their employment numbers to hard core of operatives whose function serve the customer satisfaction and this results in the extrusion of personnel. Little doubt remains that job permanency, job security and general employment have become a custom and not a legal right. The governments and organisations are embedded in the broader community and have responsibility to stabilise the broader society. It is important for the government and the private sector to prepare employees for the post employment career path. The lesson learnt in the world's economic giants is to stimulate job creation by means of well-planned entrepreneurial culture founded in thriving for small business development.
Entrepreneurial culture is the fundamental base for the economic development which encourages people to be more independent and responsible than to be beggars. The stimulation of the job creation by means of a well-planned entrepreneurial economy is founded in economically sustainable small and medium size enterprise. According to the Global Entrepreneurship Monitor (GEM), Executive Report (2004:38), the relationship between the entrepreneurship and economic growth are joined by the virtuous circle. This means that entrepreneurship contributes to economic growth and the level of a nation's wealth that create employment opportunities. In the Latin America the Report found that the many institutions which should have been supporting entrepreneurship are under-developed, and the government policies tend not to be supportive or they are inefficient in its promotions. The Report also found that labour legislation and taxations place high burden on entrepreneurs and the protection of the intellectual property rights is inadequate. The commercial and professional infrastructures are also poor and need development. The organisations and government worldwide are striving for the best practice operations that would sustain the economy and job creation. According to the Report the traditional analyses of economic growth tend to focus on large corporations and neglect the innovations and competition that small start-ups contribute to the overall economy. The GEM considered that activities associated with established firms and those related directly to the entrepreneurial process as the two parallel sets of interrelated activities for the national economic growth. The large corporations influence the economic growth primarily through the construction of new establishment which in turn create job opportunities.