What is Entrepreneurship? Mr. Bitature argues that it is a burning desire, a passion for fixing a gap that you see in society. In the last few days, our class visited an open air market as well as Mr. Bitature, an Entrepreneur of the cellphone and energy industries, to explore the different styles of economic development in Uganda. The open air market shows the majority of the economic situation in Uganda which is a perfectly competitive market with little to no product differentiation. Mr. Bitature's cellphone and energy market can be described as an oligopoly (few businesses in competition for all of the market). His style of business is known for his ability to find a need and be the first to the market and to capitalize on the industry to succeed. He told us about most of the disparities of Uganda and the importance of Entrepreneurs employing more people into the workforce for more economic development, as well as children being nourished correctly for early adolescence to help the economy flourish. The most interesting topic that was brought up in his presentation was the importance of people having a good moral (MQ) and emotional intelligence (EQ) for not only the individual to thrive but for the country to succeed as a whole. To bring things into perspective, he said that Uganda is in the condition that the United States was at 100 years ago and it is their country's job to lead itself in the direction of countries like the United States which all starts with the younger generations.
Considering that corruption is a big problem in Ugandan society, do you think that Patrick ever was involved in corrupt business deals in order to make it by in the culture of business?
Do you agree with the importance MQ and EQ for success in a society?