THE CHARACTERISTICS AND INNOVATIVE PRACTICES OF ENTREPRENEURIAL FIRMS

Manoj Joshi (), Prince Chukwuneme Enwereji () and Annelien van Rooyen ()
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Manoj Joshi: Amity University Uttar Pradesh, India
Prince Chukwuneme Enwereji: University of South Africa, South Africa
Annelien van Rooyen: University of South Africa, South Africa

Eurasian Journal of Business and Management, 2024, vol. 12, issue 1, 15-31

Abstract: Innovation is defined as an idea, practice, or object perceived as new by individuals or units that adopt it. Innovation can be seen as “something that is new or improved and that which creates value†. For an innovative and entrepreneurial firm, it is defined as one that engages in product and market innovation, undertakes risky ventures, and is the first to come up with proactive innovations, beating competitors to the punch. Innovation is considered integral for its existence. These incumbent firms can be small and medium-sized enterprises (SMEs) also termed as small businesses. This study attempts to explore the characteristics and innovative practices of entrepreneurial and innovative firms in India and South Africa. A qualitative research approach was adopted with a descriptive and exploratory case study method. The study utilized consultative interviews and internet-based searches to collect data from fourteen selected firms, seven from India and seven from South Africa. Findings confirmed that the firms selected from the two continents are also innovative and entrepreneurial which confirms the Ab initio proposition: To survive in today's globally competitive environment, firms must innovate, leading to improved operational performance and achievement of organizational goals."

Keywords: De Novo; De Alia; Innovative Firm; Entrepreneurial Firm; Innovative Practices; SMEs (search for similar items in EconPapers)
Date: 2024
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