CENTRAL PROBLEMS IN MANAGING CORPORATE INNOVATION AND ENTREPRENEURSHIP

Few issues are characterized by as much agreement as the role of innovation and entrepreneurship for social and economic development. Schumpeter’s (1942) emphasis on the importance of innovation for the business firm and society as a whole is seldom disputed. Although entrepreneurship is widely recognized as a central dynamic in the startup of new small companies (e.g. Vesper, 1980), it is equally crucial to revitalizing and sustaining established companies and renewing their ability to compete in a dynamic and global economy.