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Essay by   •  December 19, 2010  •  643 Words (3 Pages)  •  1,010 Views

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Q 1. Is Max an Entrepreneur? Is he a capitalist why or why not?

Since the collapse of the Soviet Union in 1991-1992 and the end of the centrally controlled "command economy"(ihr.org) a new class of wealthy private capitalist with close government connections have emerged in Russia. Max is a part of the many entrepreneurs of that era. According to answers.com an Entrepreneur is An individual who, rather than working as an employee, runs a small business and assumes all the risk and reward of a given business venture, idea, or good or service offered for sale. Entrepreneurs also have technical knowledge with which to produce a saleable product or to design a needed new service and that is what Max did when he established his business and first started his venture by taking all the risks into account and translated American accounting principles to the Russian language. (BA Gold 311) As an entrepreneur this was an innovative idea for Max to come up with. Not only did he start of with enthusiasm but went on to accomplish many other tasks with tact such as the set up of the accounting and auditing ventures and finally the establishment of Miarillion Accounting Firm. (BA gold 311).

Max can also be termed a Capitalist which is defined as a person who practices capitalism i.e. economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, esp. as contrasted to cooperatively or state-owned means of wealth.(www.dictionary.com) This can be later on seen as after successfully establishing his business the system of Marillion was approved and implemented. (BA Gold 312). It was the first accounting system of Russia and became a model for other insurance firms which were later printed by the government. In may 1993 Marillion moved to a larger office at this time attracted large client: a holding company that managed trading companies, a bank, and an insurance company. (BA Gold 312) This tells us that Max started out in an entrepreneurial fashion but later on went on to be a capitalist by regulating economy with the right to compete for economic gain.

Q2 What facilitated the growth of the firm? What was the major obstacle to growth?

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