TRADITION AND DEVELOPMENT OF MONGOLIAN BUSINESS MINDSET

Chingis khan considered that good economic policy is the basis of the state independence. Economy to sustain itself has been a generational interest of Mongolian government policy. In the ages of Chiggis khan and his successors, Mongols had done somethings for the development of trade to supply their consumptions. For instance, Great Empire of Mongolia had complex structure for domestic and international trade in the middle of 13th century. One of the people influencing to develop a business mindset was Togtokhtur.B (1797~1868), known as To Van, Lord of Ilden vangiin hoshuu, Setsen Khan Province. Realizing nomadic livestock already not sufficient for living, To Van was willing to demonstrate other resources such as handcrafts and agriculture to supply people’s need. According to the guidance of To Van, Indigenous community supplied their consumption and sale surplus grains to other people by using agriculture. During the periods of Autonomous Mongolia, there was not any industry, Mongols used to produce livestock products their selves by using traditional method. Thank to People’s revolution of 1921, pushing foreign firms, Mongols could develop their national commerce. However, lives of people were equally poor and businesses and personal property were prohibited by the socialist ideology. On the other hand, since when Mongolia transferred to market relations, fundament of business was stablished based on basement of previous generations’ gain which had been just start.