Entrepreneurship and Business

In: Business and Management

Submitted By Newhan
Words 2539
Pages 11
University of Nottingham Ningbo China (Business School)
Finance, Accounting and Management
Academic Year 2012/11

Module Title: Entrepreneurship and Business p11440
Module convenor: Maris Farquharson
Essay title: Discuss the relationship between entrepreneurship, innovation and economic development. What role do creativity and problem solving play in this relationship? Refer to both theory and examples from the business world to support your discussion.

Word Count: 1959
Submitted: 27/11/2012
Student: Pan Yanhao
Student ID: 6508745

Recent years the popularity of entrepreneurship education is growing worldwide (Gormon & Hanlon & King, 1997). In the United Kingdom more students are being taught in classes to accumulate entrepreneurial skills in their own field to make considerable achievement (Department for Culture, Media and Sport (DCMS), 2006). In addition, the government in some countries also give emphasises on the entrepreneurship and build specific plans about the improvement of entrepreneurial skills (Lumsdaine and Binks, 2007). The reason why entrepreneurship becomes more prevalent is that entrepreneurship and its vital part which is innovation are regarded as crucial components in the process of economic development (Baumol, 1968). This essay will demonstrate the relationship between entrepreneurship, innovation and economic development and illustrate the role of creativity and problem solving in this complex relationship. Section one will describe that innovation is the core of entrepreneurship and entrepreneurship will also enhance the development of innovation. Section two of this essay will illustrate innovation makes huge influences on improving the economic growth and economic growth will speed up the progress of innovation. In section three, relationship between entrepreneurship and economic growth will be demonstrated, while the…...

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