Activation of entrepreneurship and innovation is essential for effective socio-economic development of the national economy.
Failure in entrepreneurship in the context of entire markets, sectors, the whole society, the entire economy is a negative effect of taking risks in the situation of starting a business and running a business.
This is the price of few, spectacular business successes. Therefore, it should not be reduced due to the existence of investment risk. Investment risk should be examined, analyzed, measured and hedged, for example, in the form of maintaining established, estimated financial provisions for the situation of potential loss of financial liquidity. An entrepreneur should take risks, accept a certain level of investment risk, measured and hedged risk.
Entrepreneurship should be supported by both public sector institutions and through private investment funds that finance the development of innovative startups. In modern knowledge-based economies, the state through central and through local government public institutions should support the development of entrepreneurship and innovation.
In view of the above, the current question is: Should the state support the development of entrepreneurship and innovation?
Please, answer, comments. I invite you to the discussion.
The above question inspired me to the following considerations:
The role of creativity and innovation in human life and development of civilization?
Creativity is linked to innovation and is essential for the development of knowledge-based economies. Creativity can also be a source of rationalizing improvements in production processes, but also, for example, it can be a source of artistry in art. It is a necessary condition for the creation of both works of art and various types of innovations, including innovations that build new categories of added value in technological processes and products. Currently, due to the progressive global warming, the importance of ecological innovations increases, so the development of innovation and creativity is still needed, eg in the field of creating new technological solutions in the field of renewable energy, improving waste segregation, creating biodegradable substitutes for plastic materials and degraded reclamation environment.
In addition, creativity to a certain extent, smaller or larger, may apply to all of us. Of course, discoverers, artists, inventors, etc. are usually characterized by a high level of creativity and the ability to generate innovative solutions. However, in everyday life every person tries to be creative, it is one of human characteristics. Thanks to creativity, civilization progress is realized, various inventions are created, new types of products and services, spectacular works of art, new concepts, new trends in art, culture and science. Creativity is a necessary condition for progress and has a long history.
In view of the above, I would like to ask you: The role of kreartwności in human life and development of civilization?
Please, answer, comments. I invite you to the discussion
How to support and activate innovation and entrepreneurship?
Locally operating business entities should be promoted by chambers of commerce.
Entrepreneurship and innovation should be supported by central and local government units of public administration.
In addition, investment funds should co-finance innovative investment projects characterized by a high level of innovation.
However, in the education system, the issue of promoting local entrepreneurship of innovation may be taken into account, indicating the high level of significance of this issue for the economic development of the local self-government economy as well as in the context of the national economy.
In view of the above, the current question is: How to support and activate innovation and entrepreneurship?
Please, answer, comments. I invite you to the discussion.
Should Entrepreneurship appear in curricula?
Yes, entrepreneurship can and must be taught. Of course, you can teach skills, knowledge, etc. On the other hand, not every citizen is educated, because personality traits are also important: management, decision making, acceptance of investment risks, etc. In knowledge-based economies, one of the important factors of economic growth is the activation of innovation and entrepreneurship. As part of this activation, entrepreneurship should be taught in schools and at universities. In many schools and many fields of study, the subject of Entrepreneurship should appear in the curriculum in addition to the Foundations of Economics. In order to teach entrepreneurship effectively, it is necessary to improve and implement innovative teaching techniques and instruments. New online information media, social media portals, data processing in Big Data database systems, etc. should be used in the teaching process. During the course students should set up companies and participating in the didactic game, these companies should be conducted in simulations of different scenarios of the characterized, analyzed market environment , competitive, institutional, etc.
In view of the above, the current question is: Should Entrepreneurship appear in curricula?
Please, answer, comments. I invite you to the discussion.
What instruments of state intervention in your countries is entrepreneurship and innovation in enterprises in the SME sector stimulated?
The enterprise sector of SMEs generates the majority of output of entire economies. To a large extent, therefore, the economic situation in the entire national economy depends on the economic and financial condition of economic entities in this sector.The aim of activating economic processes is necessary to create and develop instruments of state intervention, thanks to which it is possible to effectively stimulate entrepreneurship and innovation of economic entities of the SME sector.In view of the above, I would like to ask you: What are the instruments of state intervention in your countries to stimulate entrepreneurship and innovation in enterprises in the SME sector?Please, answer, comments. I invite you to the discussion.
Do you develop territorial cooperation programs with enterprises to stimulate entrepreneurship and innovation in your countries?
Are there research and development programs in your countries for cooperation between territorial self-governments and enterprises to activate entrepreneurship and innovation of business entities?In recent years, cooperation programs of territorial self-governments with enterprises have been developed in some countries to activate entrepreneurship and innovativeness of business entities.Because in developed countries information, innovations, new technologies and entrepreneurship are considered as one of the most important factors of the country's economic development and, as a consequence, also economic growth measured, for example, by the Gross Domestic Product in subsequent years.In addition, research and research and implementation works are conducted in these themes, which further underline the high level of significance of innovation, new technologies and entrepreneurship in contemporary national economies.In connection with the above, I would like to ask you the following question: Are there research and development programs in your countries for cooperation between territorial self-governments and enterprises to activate entrepreneurship and innovation of business entities?Please, answer, comments. I invite you to the discussion.
The issues of the importance of innovativeness and entrepreneurship in economic development are described in the publication:
https://www.researchgate.net/publication/327201714_The_Importance_of_Innovation_in_Polands_Business_and_Financial_Sectors_in_The_Context_of_the_Countrys_Economic_Development
I invite you to discussion and cooperation. Greetings
В нашем стране есть Фонды государственной поддержки предпринимательства , а также Торгово-промышленная палата и ее региональные отделения, в территориях действуют технопарки, созданы территории опережающего развития как точки инвестиционного роста!
For sure the government support is extremely important specially for the developing countries.
Type of supports needed:
-Reviewing the regulations and policies for entrepreneurship
-Financial support
-Educational support
-Entrepreneurial Culture Support
-Mentorship support , etc.
For more information, you may refer back to my thesis:
https://bura.brunel.ac.uk/handle/2438/13538
Dariusz Prokopowicz It depends on the kind of support we are talking about. Government can surely provide institutional support by simplifying business-creation laws, making taxation simple and bearable, reducing bureaucracy to a minimum, and integrating pro-business material in primary and secondary education.
However, if we are talking about active interventionism like subsidized credits, specific tax breaks, entrepreneurship programs and the like, government efficiency is doubtful. First, for logical reasons. If government could be that efficient, then it could simply direct the whole economy. We all know quite well, government is totally incompetent for this. Second, because of the moral hazard generated. Active interventionism implies dealing with government agents, targeting markets, sectors, companies, etc. The possibility of corruption, active or passive, is simply enormous.
A good read on the subject is Scott Shane's "The Illusions of Entrepreneurship".
Cheers!
Государство должно формировать и развивать инфраструктуру, необходимую для диффузии инноваций
Definitely yes. A good example of research institutes in the Netherlands and Israel. Strategic areas should be identified and the government should provide support.
Energy, agriculture, health and education strategic sectors. Their forward and backward connections are very high.
Given the risks and uncertainities associated with innovation among small enterprises, government should provide well targeted support especially to the newly established enterprises. There is also quasi public good argument for new innovations arising through knowledge flow among enterprises that justifies government support.
Innovation is a conduit of Knowledge, applied skills on the canvas of 'Failure'.
The Canvas Failure ,is where risk taking comes to play.
An innovator is domain expert failure from singularity to solution creation based on experience. Failure teaches more than success.
Government cash backup make the canvas multi-disciplinary for sustainable outcomes.
The political ideology of a state will determine whether it will support entrepreneurship development and innovation or not. it also depends whether the state political economic model is neoclassical or market friendly or development state model mercantilism model or the governed market model. All these recent ideological models have political economic implications and will go a long way to determine the extent of state support for entrepreneurship development and innovation .
Governments should continuously support research and development because of the special spillover attributes of knowledge. R&D can contribute to innovations, firm growth etc. Most people limit these support to finance but I believe other supports such as legislative, educational, policies for industrial support among others should be considered by governments.
Yes, the state should support entrepreneurship and encourage innovation. This can come in form of ensuring that entrepreneurs have access to the right information and also by creating an enabling environment for entrepreneurs to function. This has to be done strategically.
Peter Drucker said:
“Innovation is the specific instrument of entrepreneurship...the act that endows resources with a new capacity to create wealth''. There is a need for a platform powered by government. But individuals should jump start the process. This is a capitalist systems of economic.
Business has only two functions — marketing and innovation., both are function of investments with a long view. Public fund is need.
Dear Friends and Colleagues of RG Do you agree with my opinion that in the context of the forecasted slowdown in the economic growth of many countries in 2019, policies for activating entrepreneurship and innovation should be developed within the framework of active, pro-development, anti-crisis, Keynesian, national socio-economic policies?
Please reply
I invite you to the discussion
Best wishes
Dear Colleagues and Friends from RG, The above discussion shows that the state should support and activate the development of entrepreneurship and innovation. Supporting and activating the development of entrepreneurship and innovation is particularly important in developing countries and in a situation of weakening economic growth. In addition, in the context of increasingly intensifying climate change, increasingly faster global warming processes, the importance of supporting the development of entrepreneurship and innovation by the state from public funds in the field of creating and implementing ecological innovations, e.g. in the field of renewable energy sources, electromobility, automation of segregation processes is also growing waste, improving recycling logistics, developing ecological agriculture, improving wastewater treatment techniques and reclamation of the natural environment, etc., and activating entrepreneurship in these areas of pro-ecological economic activity. By supporting and activating the development of entrepreneurship and innovation in enterprises and creating, implementing ecological innovations, the state can accelerate the processes of implementing the principles of pro-ecological economic development conducted in accordance with the green economy philosophy and financing pro-ecological programs from public green finance funds. Through this activation, a significant part of the economy should be transformed into sustainable eco-friendly economic development, which will result in the development of cooperating enterprises, subcontractors, suppliers of prefabricated, semi-finished and ecological raw materials in commercially functioning sectors of the economy.
What do you think about this topic?
What is your opinion on this topic?
Do you agree with me on the above matter?
I invite you to discussion
Thank you very much
Best wishes
Dariusz Prokopowicz
Dear Dariusz , I think it can. By increasing the yield of creative bond by subsidy. A state or a government increases the private opportunity cost of money by this kind of financing and increase the demand for this bond. This is a part of one of my work in a Dynamic stochastic Equilibrium Model .
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