� about leaders being perceived by followers as empathically and exemplary .
Team-oriented leadership : this kind of leadership , as the name suggests , is about team building leaders who focus on common goals and purposes for a group of people and motivate them to use synergy . This leadership style requires “ diplomatic ” and “ collaborative ” traits .
In Panama , most successful companies focus on having leaders with similar qualities and direction . As mentioned before , Panama is all about building relationships and getting work done around those relationships . Therefore , charismatic leadership is necessary . Even if it is not about inspiration and motivation , it has to be about making people feel “ good ,” since Panamanian culture is deeply rooted in emotional values .
ENTREPRENEURSHIP
As defined by New York University ( NYU ), entrepreneurship means “ seizing opportunities ,” which is exactly what people ingrained with business philosophies do . Entrepreneurship is all about getting into ventures that bring innovation , fulfill unmet needs , create jobs , or take advantage of attractive markets . Research from International Entrepreneurship , a website created by two acclaimed entrepreneurs and professors , indicates that Panama enjoys a strong entrepreneurial culture and community ; entrepreneurs are a key piece in the country ' s overall economy . They state that there are a lot of “ opportunities for entrepreneurial activity in the higher-growth sectors of financial services , logistics , telecommunications , retail , and tourism .”
Despite the enormously favorable conditions in the eyes of many , very few Panamanian locals actually got into entrepreneurship , as data from 2009 indicated . Most of the businesses in Panama are 4 | L A T I T U D E 0 4 / 0 1 / 2013 either owned by foreigners , who take maximum advantage of the attractive market , or are passed along as family enterprises , which are usually owned by the wealthy few nationals in the country ( Samuel Taliaferro ). In the Colon Free Zone , for example , most of the biggest companies were established by foreigners or Panamanians that have foreign ancestry .
Given that articles from La Prensa - Nicaragua suggest that 100,000 youngsters in Panama are unemployed after they graduate from university , the highest number in the region ; the lack of entrepreneurial activity by Panamanians is just sad . Most aptly put , the education system in Panama and the culture of the country has created in people an aversion to action . Even if somebody has an idea , they are fearful to implement it or do something about it because risks run high . An article by Mary Triny Zea for La Prensa in 2010 pointed out that “ 68 % of Panamanians want to build a business , but only 14 % said they would dare to take that route in three years . Young people under 25 are the least likely to risk riding the wave .”
However , change is taking place in Panama , slowly , but surely . An article in Revista Summa stated that according to the Global Entrepreneurship Monitor ( GEM ), during 2011-2012 , 20 % of Panamanians started their own businesses or managed one that was recently established . They also pointed out that 1 out of every 5 Panamanians has the willingness to start his / her own venture . These data indicate great results , since , as we all know , one can easily provide tools to people but not the willingness if they do not have it . Fortunately , a lot of effort is being put in for the encouragement of entrepreneurial activity . The City of Knowledge is one of those groups that is trying to create awareness about entrepreneurship in Panama . With a group like Accelerador de Empresas de Panamá ( AEP ) that promotes and aids people who want to start their own business ventures , various educational courses , and sponsors and patners like