Exploring the synergy between entrepreneurship and innovation

Abstract

Purpose To contribute to an understanding of the complementary nature of entrepreneurship and innovation through an empirical study of various organisations; and to develop an integrative framework of the interaction between entrepreneurship and innovation. Design/methodology/approach The study takes a qualitative approach in exploring the synergies between entrepreneurship and innovation and in analysing the factors that foster an interaction between the two. Case studies of six entrepreneurial and innovative organisations and in‐depth interviews with senior managers were conducted to complement a comprehensive literature review of entrepreneurship and innovation. Findings The study has found that: entrepreneurship and innovation are positively related to each other and interact to help an organisation to flourish; entrepreneurship and innovation are complementary, and a combination of the two is vital to organisational success and sustainability in today's dynamic and changing environment; entrepreneurship and innovation are not confined to the initial stages of a new venture; rather, they are dynamic and holistic processes in entrepreneurial and innovative organisations; and organisational culture and management style are crucial factors affecting the development of entrepreneurial and innovation behaviour in organisations. Originality/value Entrepreneurship and innovation should be regarded as ongoing, everyday practice in organisations, and this paper has contributed to the development of such an attitude.This empirical study contributes to an understanding of the existing theories and practices of entrepreneurship and innovation in organisations.

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