Entrepreneurship Policies for Knowledge Economies: Policy Aspects

Entrepreneurship Policies for Knowledge Economies: Policy Aspects

Mukund Deshpande (Independent Researcher, India)
Copyright: © 2017 |Pages: 19
DOI: 10.4018/978-1-5225-1923-2.ch024

Abstract

Excellence in the economy of the firm has, at all times, aroused curiosity and has been a most hunted area of dialogue for entrepreneurs. The diligent fostering of a candid habit of mind even in trifles is a matter of high moment both to character and opinions. This realism speaks of human behaviour that is only accountable for the betterment of the entrepreneurship. Therefore every entrepreneur looks for the available and favourable choices which do not generate adverse effects. Excellence in economy of the enterprise is only attainable in the course of good knowledge management practices. The purpose of this chapter is to understand how the economy of the enterprise could be fruitfully improved through entrepreneurship approach and establish its implementation. The chapter reports that right tools to information gathering, right interpretation to knowledge and appropriate entrepreneurship action are the essential dimensions for building economy of the enterprise.
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Background

Industrial and business firms, in this era of globalization, face challenges (Gatignon et al, n.d.) owing to changes in technology and management in the arena of the manufacturing, marketing, finance and administration and particularly for managing the resources which poses hardships to develop economy of the enterprise. The entrepreneurship approach to knowledge economy is the suggested solution, on account of its ability and strength, to bring in sustainability and economic development of the enterprise.

In view of the aforesaid recommended approach, although four key terms are evolved (entrepreneurship, policy, knowledge, economy), two major questions in this work out need affirmation. The entrepreneurship approach (Cardon et al., 2009) is one which has the capability (Buttner, et al. 1993) to resolve challenges (Novogratz, 2008) of economy development and the other issue is that of knowledge economy which relies on gaining right knowledge, relating to economy development. The chapter, for that reason, makes propositions on the dimensional aspects evolved in these two major issues to bring out policy.

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