Creative Business Practices: Entrepreneurship Innovation and the Relevance to the Modern Organization

The work entitled "Globalization of Social Entrepreneurship Opportunities" reports that entrepreneurship "...by new and established companies is a major source of wealth and job creation, economic and technological growth and social transformation. This transformation is made possible by the powerful forces entrepreneurship unleashes, where ordinary people conceive innovative ideas, organize production, assume risk, and engage customers to accumulate wealth or address pressing social causes, often across national borders." (Zahra, 2006)

The work of Donald F. Karatko entitled "Entrepreneurship: Theory, Process and Practice" states that many of today's companies are acknowledging the need for corporate entrepreneurship. (Karatko, 2008, paraphrased) It is stated by Kuratko that this need "has arisen in response to a number of pressing problems which are reported to include such as:

(1) Rapid growth in the number of new and sophisticated competitors;

(2) A sense of...
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