Intellectual entrepreneurship and future success of Pakistani SMEs

Abstract

In contemporary business environment, the small and medium enterprises (SMEs) are facing complex and multifaceted challenges to sustain and achieve competitive edge in the ever-increasing knowledge-based economy. In the beginning of the 21st century, the paradigm of the national and international business has entered into the age of distrust, discontinuity and uncertainty because of globalisation, technological advancement, innovation and internet. In this economy, the most vital component of the success for SMEs is intellectual entrepreneurship. Intellectual entrepreneurship is considered as the silver bullet to address the long-standing challenges, survival and success of SMEs. The objective of this study is to address the conceptual theme and define the term intellectual entrepreneurship in business perspective. To the best of our knowledge, this is the first study that addresses the importance of intellectual entrepreneurship and purposes its definition. Moreover, this paper wishes to highlight the practical challenges of Pakistani high-tech SMEs.