PRIVATIZATION, ENTREPRENEURSHIP, AND GLOBAL COMPETITIVENESS IN THE 21st CENTURY Available to Purchase

Privatization is a popular strategy for restructuring the national economies of advanced and advancing countries. This strategy centers on promoting the forces of the free market system by transforming state‐owned enterprises into private companies and changing their ownership and management systems. These changes can alter organizational cultures and promote risk‐taking, innovation and entrepreneurship. This article examines the contributions of privatization to entrepreneurship in new ventures and established companies, outlines factors that can limit entreprenurial gains from national privatization programs, and discusses the implications of entrepreneurial changes that occur following privatization for global competitiveness.