Analysis of Contemporary Issues in Entrepreneurship and Innovation

This report examines the relevance of entrepreneurial thinking in the contemporary business world, highlighting its significance for innovation, competitiveness, and human capital. It discusses the importance of corporate entrepreneurship in driving innovation and the skills entrepreneurs need to foster creativity within organizations. The report explores various paradoxes associated with entrepreneurial thinking, such as uncertainty, opportunity, and risk-taking, and emphasizes the need for tolerance of ambiguity and self-reflectivity. It also covers essential competencies like vision, creativity, planning, and ethical thinking, while referencing key articles and studies to support its arguments. The analysis underscores how entrepreneurial thinking is crucial for navigating the complexities of modern business and fostering innovation.

Contemporary Issues in
Entrepreneurship and
Innovation
Student’s Name:
Student’s ID:

1
Table of Contents
Relevance of entrepreneurial thinking........................................................................................................2
References...................................................................................................................................................3

2
Relevance of entrepreneurial thinking
Corporate entrepreneurship is significant because it directly leads to innovation which allows the
organization to sustain competitiveness in the contemporary world. The article aims to provide
an understanding of the most relevant skills of the personnel in this contemporary business
world. It reflects on entrepreneurial thinking, which is considered as an essential skill in order to
strengthen competitiveness, employability and human capital. Moreover, the article desires to
states that entrepreneurs possess entrepreneurial thinking skills which allows them to be an
innovator and create innovation in the companies. Besides this, the study represents that the
entrepreneurs need not learn innovation from large organizations but learn entrepreneurial
thinking in a more effective way. Corporate entrepreneurship is critical for the entrepreneurship
to study as it allows them to focus on innovation processes, adopt knowledge and competence
(Anthony, 2012). In addition, it is linked to transformative innovation as a shift in the innovation
emerged from the corporate entrepreneurs who use their competence and skills for creativity. For
example, it provided a set of teaching objectives for entrepreneurship and argued that different
practices could be adopted for educating entrepreneurship.
Based on my experiences, entrepreneurial thinking is important in the world of business because
without this skills, the entrepreneurs could not create innovation and it helps in dealing with all
the dilemmas that occur in educating entrepreneurship. However, different paradoxes are
covered in the subject, which includes uncertainty paradox, opportunity paradox, experience
paradox and strategic paradox as well as a risk-taking paradox. I have experienced that these
paradoxes are critical for entrepreneurship to develop innovation and creativity in large
organizations. Besides this, entrepreneurial thinking cannot be taught to the individuals, but
tolerance to ambiguity as well as self0reflectivity can be taught to develop such skill (Spruijt,
2017). I have analyzed that entrepreneurship can or cannot be taught based on different
perspectives. I recognizes that a set of practices should be learning in order to be an effective
entrepreneur and enhance success in entrepreneurship in a complex setting. In addition, various
competencies should be taught for efficient entrepreneurship which involves vision, creativity,
planning, risk-taking, motivation, ethical thinking and self-awareness.

3
References
Anthony, S.D., 2012. The new corporate garage. Harvard Business Review, 90(9), pp.44-53.
Spruijt, J., 2017. Paradoxes of Entrepreneurial Thinking: Why Entrepreneurship Can Hardly Be
Taught. Available at SSRN 2969895.