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Entrepreneurship in the New Global Economy. The Role of Innovation in Economic Development

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  • Alexandra Veronica Ungureanu

    (“Stefan cel Mare†University of Suceava)

Abstract

21st century entrepreneurship is characterized by a large amount of new knowledge and flexibility, two factors that have gained new significance as a source of competitiveness in a globalized economy. The transition of the classical industry structure to smaller concentration and greater decentralization is only an indicator of this development. With technological changes and increased global competition brought by economic liberalization, the assumption that fostering entrepreneurship means fostering a country's competitiveness seems more valid today than ever. It is relevant for the new economy that the current global debate on the importance of entrepreneurship is primarily aimed at developed countries and that the issue of how to foster entrepreneurship appears to be primarily a concern for global decision-makers. Therefore, the purpose of this article is to highlight the importance of the technology-driven profile of the new global economy, driven by innovation and entrepreneurial initiative which is at the core of innovative business strategies.

Suggested Citation

  • Alexandra Veronica Ungureanu, 2020. "Entrepreneurship in the New Global Economy. The Role of Innovation in Economic Development," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 541-548, August.
    • Handle: RePEc:ovi:oviste:v:xx:y:2020:i:1:p:541-548
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    More about this item

    Keywords

    globalization; knowledge based economy; entrepreneurship; innovation;
    All these keywords.

    JEL classification:

    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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