Analysis of Entrepreneurial Thinking in Contemporary Issues

This assignment analyzes three contemporary issues in entrepreneurship and innovation, focusing on the key messages of entrepreneurial thinking as a crucial skill for the 21st-century workforce. It explores the role of entrepreneurship in stabilizing market conditions and highlights the importance of corporate entrepreneurship and entrepreneurial competence. The assignment also discusses the paradoxes inherent in entrepreneurial thinking, such as uncertainty and risk-taking. The author shares personal experiences regarding the relevance of entrepreneurial thinking, emphasizing the combination of effectuation and causation and the role of creativity and experimentation in fostering entrepreneurial success. The paper references key articles on the subject to support the analysis and conclusions.

Contemporary Issues in
Entrepreneurship and
Innovation
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Table of Contents
Key message of the article...........................................................................................................................2
Experience regarding the relevance of entrepreneurial thinking..................................................................2
References...................................................................................................................................................3

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Key message of the article
The article provides the key message regarding entrepreneurial thinking which is regarded as the
skills and competencies necessary for the workforce in the 21st century. It determines the role of
entrepreneurship as more equilibrated that helps in stabilizing market conditions. As per the
author, corporate entrepreneurship is determined to be the direct effects of entrepreneurial
thinking that can be applied within organizations as well as organizational culture. Moreover,
entrepreneurship competence deals with paradoxical situations which includes attitude, skills and
knowledge of entrepreneurs (Spruijt, 2017). The article also demonstrates personality traits that
are viewed as conditions for entrepreneurship rather than learnable. There comprises of five
major competences for entrepreneurship and innovation such as networking, teamwork,
initiative, critical thinking along with creativity. The article determines the significant paradoxes
of entrepreneurial thinking like uncertainty, strategic, opportunity, experience, momentum,
generalization, decision-making, impact, risk-takin, knowledge and trust. All these paradoxes
propose a set of teaching goals that helps in dealing with various aspects of entrepreneurship.
Moreover, it also provides valuable overturned solutions to unsolved problems.
Experience regarding the relevance of entrepreneurial thinking
As per my experience, entrepreneurial thinking is all about searching the adequate combination
among effectuation and causation. It has been analyzed that a successful entrepreneur very well
knows when to act as effectuative and when to act as causational. It helps in bringing
entrepreneurial expert mindset, which is all about beliefs and attitude. Whereas entrepreneurship
is associated with intentions and actions. Moreover, it is seen that corporate entrepreneurs result
in a creation that helps organizations to sustain competitiveness without any regeneration and
renewal (Prashantham, Eranova and Couper, 2018). It can be said that teaching entrepreneurship
helps in gaining entrepreneurial success in an ambiguous and complex setting which needs a set
of practices. Based on my experience, it can also be said that practices of creativity can be taught
with the help of creative methods and techniques like design thinking. While the practice of
experimentation helps in learning new things that can be applied in the future. Therefore,
entrepreneurship cannot be taught, which requires self-reflectivity to auto-direct entrepreneurial
thinking.

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References
Prashantham, S., Eranova, M. and Couper, C., 2018. Globalization, entrepreneurship and
paradox thinking. Asia Pacific Journal of Management, 35(1), pp.1-9.
Spruijt, J., 2017. Paradoxes of Entrepreneurial Thinking: Why Entrepreneurship Can Hardly Be
Taught. Available at SSRN 2969895.