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Entrepreneurship and Innovation: The Essence of Sustainable, Smart, and Inclusive Economies
Abstract
The main objective of this chapter focuses on the relationship between entrepreneurship, innovation, and its effects on business sustainability. The authors reflect on the personality traits that are essential for an entrepreneur. Entrepreneurship is a mindset focused on identifying opportunities of economic value and translates into the pursuit of business opportunities through innovation. This perspective underlines the need to develop an individual for the globalized world; this development is the strategic key for economic and social development. The objective of this study is to explore how social capital, which is established between the entrepreneur and other economic role players, both inside and outside the organization, is a determinant for developing the entrepreneurial capacity. However, this depends on the organizational culture to focus on innovation. In this context, entrepreneurship is regarded as “entrepreneurial capital” affording the organization to enhance those skills needed to accomplish organizational sustainability.
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