The Importance of Entrepreneurship in Global Business

Abstract

This chapter reveals the overview of entrepreneurship; entrepreneurship and innovation; the emerging trends of corporate entrepreneurship; sustainable entrepreneurship approach; entrepreneurship and entrepreneurial activity; the perspectives on entrepreneur; and the importance of entrepreneurship in global business. Entrepreneurship is a process of actions of an entrepreneur who is a person in search of something new and exploits such ideas into gainful opportunities by accepting the risk and uncertainty with the enterprise. Entrepreneurship results into the creation of organizations when entrepreneurs assemble the physical, human, and financial resources and direct them toward the achievement of objectives through managerial skills. The importance of entrepreneurship lies in the fact that it helps in identifying and developing the managerial capabilities of entrepreneurs. The chapter argues that fostering entrepreneurship has the potential to enhance organizational performance and reach strategic goals in global business.

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