Entrepreneurial Innovation and Economic Development: Historical and Modern Perspectives

Author(s)	Mr. S. Shanthi Kumar, Dr. M. Anjaneyulu IDAS
Country	India
Abstract	Entrepreneurship, a cornerstone of economic development and innovation, involves identifying and exploiting opportunities through new ventures. This paper delves into the evolution of entrepreneurship, its components, processes, and various forms, while also discussing strategies for entrepreneurial success. From historical perspectives provided by Cantillon, Say, and Schumpeter to modern concepts such as social and biosphere entrepreneurship, the paper offers a holistic view. It also highlights the importance of an enabling ecosystem comprising government support, educational institutions, and financial entities, emphasizing the need for effective risk management and strategic planning.
Keywords	Entrepreneurship, Economic Development, Innovation, Business Ventures, Opportunity Identification, Entrepreneurial Ecosystem, Risk Management, Business Planning
Field	Business Administration
Published In	Volume 6, Issue 5, September-October 2024
Published On	2024-10-01
Cite This	Entrepreneurial Innovation and Economic Development: Historical and Modern Perspectives - Mr. S. Shanthi Kumar, Dr. M. Anjaneyulu IDAS - IJFMR Volume 6, Issue 5, September-October 2024. DOI 10.36948/ijfmr.2024.v06i05.28120
DOI	https://doi.org/10.36948/ijfmr.2024.v06i05.28120
Short DOI	https://doi.org/g688t5

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