In other words, few people take entrepreneurship during this period. Hart cited in Paton, points out that the goal of sustainability is entirely consistent with the profit motive competitive advantages.
As a result, further economic development in this period promotes entrepreneurship. Want an expert to write a paper for you Talk to an operator now 3.
The continued increase of economic development creates higher output abilities for business that is ultimately fed back into the economy starting from the bottom and working its way to the top.
An economy that is developing is the one that has opportunity entrepreneurship and not entrepreneurs by necessity. They can either bring a new product or business to the market or use skills and knowledge to improve on the products and services that are already in the market.
This act may be taking initiative and creating a business idea from an opportunity that has been seen. According to the theory, it is an individual with innovation and entrepreneurial skills that establishes a firm, and becomes the firm owner.
Furthermore, it is suggested that an entrepreneur should concentrate on innovation and perform sustainably in order to generate competitive advantages and boost economic development.
This fundamental relationship demonstrates the need of positive conductivity between each other, and I think that unless this is not achieved then economic development and market retention will not be held.
NIKE is a suitable example of this. That is sustainability helps entrepreneurship generate competitive advantages and promotes innovation and economic development.
Refer to both theory and examples from the business world to support your discussion. We will write a custom essay sample on The Relationship Between Entrepreneurship, Innovation and Economic Development or any similar topic only for you This essay will elaborate the relationship between entrepreneurship, innovation and economic development respectively with theoretic literature and business cases in section 2, and then in section 3, the role of sustainability in this relationship will be illustrated.