Developing countries do not have the competitive advantage in the market place with their cheap products/services and cheap labour force. They cannot compete with the mass production from China, India and other fast developing countries. These competitors are coming from the other side of the world and offer to the European and USA markets goods and services below the local production costs. Therefore, the developing countries have to adapt new pillars in order to establish their products and to gain recognition on a global scale and, even, to survive the pressure from globalization. One of them is the entrepreneurship, process of identifying opportunities and putting useful ideas into practice. It is believed that the impact of entrepreneurship in the 21st century will be equal or greater then what the industrial revolution had in the 19th and 20th century.
Entrepreneurship is the practice of starting new organizations or revitalizing mature organizations, particularly new......
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Approximate Word Count: 882
Approximate Pages: 4 (260 words per double-spaced page) |