Drivers to Innovation by Entrepreneurs

Abstract

Innovation & Entrepreneurship has been defined in many ways by the scholars. Similarly the determinants carry a wide spectrum of understanding in the form of theories and explanations (Brock and Evans, 1989; Carree, 1997; Carree, Van Stel, Thurik and Wennekers, 2002; Gavron, Cowling, Holtham and Westall, 1998). Definitely it has a direct impact on the economic development within and outside the boundaries from the centre where it emanates. The level of entrepreneurship varies substantially from one boundary to the other as time passes (Rees and Shah, 1986; Blanchflower, 2000; Blanchflower and Meyer, 1994; De Wit and Van Winden, 1989). Large firms have been subjected to waves of downsizing and restructuring and entrepreneurship has been (re)-discovered (Carree, 1997; Gavron, Cowling, Holtham and Westall, 1998; Thurik, 1999; Wennekers and Thurik, 1999). There has been a shift from the larger to smaller firms or enterprise, which have catapulted the rate of economic development. There are no established indicators that can be generally reached to consensus, in measuring the level of entrepreneurship undertaken and so be the case of the determinants that lead to this phenomenon of being entrepreneurial.