Entrepreneurship and Innovation

Abstract

Entrepreneurship and innovation are key components in driving corporate growth and fostering economic development, with a strong conceptual interconnection. Both disciplines have garnered significant scholarly interest, leading to a substantial body of literature. The objective of this study is to provide a comprehensive analysis of the interdependent relationship between entrepreneurship and innovation in the last several decades, focusing specifically on emerging research patterns. The present research investigated the impact of innovation on organizational performance in the context of entrepreneurship. Three hypotheses were developed to determine the presence of a significant link between the two intervening variables, namely innovation and entrepreneurship performance inside the business. The study used a survey research approach, in which data were collected using a standardized questionnaire. The collected data were then analyzed using Pearson's product-moment coefficient of correlation. The investigation yielded findings that indicate a significant correlation between innovation and entrepreneurial achievement. Based on the research findings, it has been determined that in order for entrepreneurship to maintain its longevity in the midst of increasing competition in emerging economies, it is crucial to prioritize the establishment and cultivation of an innovative culture. This culture should aim to motivate employees to contribute innovative ideas and strategies, which can lead to the creation of innovative products and services that offer greater value and satisfaction to customers compared to competitors. Ultimately, this approach is expected to enhance overall performance and productivity. The research therefore suggests that it is advisable to develop entrepreneurial policies and programs that effectively handle horizontal issues and provide strong incentives for innovative activities.