ENTREPRENEURIAL INITIATIVE AS A SOLUTION FOR ECONOMIC DEVELOPMENT

Abstract

: One of the main features of an entrepreneur may be his ability to understand the economic environment as a whole, in terms of challenges, risks and opportunities that may arise in the future. The entrepreneur has an essential role in identifying innovative solutions, being in the position of accessing the opportunities offered by the economic environment, in its dynamics. Recently, progress has been made in studying and understanding the relationship between entrepreneurship and economic growth. However, a comprehensive understanding of the link between creativity, entrepreneurship and economic development is not enough covered the given the extent of knowledge needs in the field. Therefore, the paper treats entrepreneurship as an essential way for ensuring sustainable economic growth. Also, it pursuits to understand the basics of knowledge creation, the appropriate means of disseminating and communicating innovation and the role of the entrepreneur in this process. The paper is of current interest, given the high interest in entrepreneurship, an approach that can ensure the reduction of economic and social disparities, contributing to long-term economic development.