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Entrepreneurship as a global coordinator: The Li & Fung Group
Author(s)
Date Issued
2011
Publisher
Switzerland: Inderscience Enterprises Ltd.
ISBN
9780415743235
ISSN
1746-966X
1746-9678
Citation
Journal for Global Business Advancement, 2011, vol. 4(4), pp. 387-400.
Type
Peer Reviewed Journal Article
Abstract
This paper integrates the contributions of L.V. Mises, I.M. Kirzner and F.A. Hayek to entrepreneurship and market process to obtain a theory of global coordination. This theory is then applied to understand Li & Fung?s business dynamics. This paper argues that Li & Fung, one of the largest providers of consumer goods in the world, hardly owns or hires any worker, raw material, machinery or factory for making household products. However, by linking up and coordinating most efficient and cheapest manufacturing processes in different parts of the world, the company is able to gain pure entrepreneurial profit. This paper concludes that Li & Fung is a successful international coordinator who transmits, integrates and creates knowledge around the globe. The efforts of Li & Fung and other international entrepreneurs have transformed Hong Kong into Asia?s most dynamic knowledge hub.
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