Role of Entrepreneurship In The Economy

entrepreneurship is closely associated with knowledge and flexibility, two factors that have gained new significance as a source of competitiveness in an increasingly globalized world economy. The shift in industry structure towards less concentration and more decentralization that OECD countries experienced between the mid-1970s and the early 1990s is only one indicator of this development.

With technological change and the intensified global competition brought about by globalization and economic liberalization, the assumption that fostering entrepreneurship means fostering a country’s competitiveness today appears more valid than ever.