From Successful SMEs to Entrepreneurial Society and the Importance of the Entrepreneurial Mindset

The entrepreneurial activity has been recognized as a major source of jobs and economic development. Most people who start and grow their own businesses around the world are opportunity motivated. Others are motivated by the necessity to earn their living, when leaders of downsizing corporations replace them with technology and lay them off, in their attempt to increase efficiency. On the other hand, the entrepreneurial competence is crucial for corporate competitive advantage. Intrapreneurship is a key factor of innovation. The entrepreneurial society represents the hope of moving economy from stagnation to prosperity. This chapter aims to explain what such a society is, why it is so important to mankind, and how it can be created.