Development of a Tool to Evaluate Innovation Practices and Entrepreneurship in an International ContextDevelopment of a Tool to Evaluate Innovation Practices and Entrepreneurship in an International Context Development of a Tool to Evaluate Innovation Practices and Entrepreneurship in an International Context
Entrepreneurship is considered as important value adding tool for the entire economy. In fact, entrepreneurs are frequently thought of as national assets to be cultivated and motivated to the greatest possible extent.In today’s global economy, exciting opportunities for cross border trade exist like never before. As a result of this, international entrepreneurship and innovation have come to the forefront of discussions in recent times. International entrepreneurship can be defined as “...the process of an entrepreneur conducting business activities across national boundaries.” Alternatively, it can also be defined as, “...a combination of innovative, proactive and risk seeking behavior that crosses national borders and is intended to create value within organizations.” For international entrepreneurship, there are a slew of factors that have to be taken into consideration such as economics, type of economic system, political-legal environment, culture, acceptance to risk etc. In addition to understanding entrepreneurship in other countries, it is important for local entrepreneurs to understand the kinds of practices that lead to innovations in other countries.In this paper, the co-authors will develop a tool to evaluate the innovation practices and entrepreneurship efforts being done in the US as well as in other countries. The countries that will be evaluated using this tool will be The United States, Canada, Germany, Austria, India, Finland, Poland, Bulgaria, China and Japan. The tool developed will be a survey to capture practices and qualities of entrepreneurs in those countries at various stages of the entrepreneurial lifecycle.