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The Harsh Reality of Pursuing Innovations: Emerging Market Perspectives

Quan Hoang Vuong

No 14-028, Working Papers CEB from ULB -- Universite Libre de Bruxelles

Abstract: This short conference paper serves as a distillation of a keynote address delivered at the the Second National Conference on Management and Higher Education Trends & Strategies for Management & Administration hosted by Bangkok-based Stamford International University (Thailand) on November 1, 2014.Innovation is discussed as the heart of entrepreneurial processes occurring in today's capitalist economic systems, including transition economies like China and Vietnam, which underscores economic competitiveness of firms and economies. But the innovation effort and process also face dilemma of "entrepreneurial curse of innovation". Advantages and disadvantages are weighed for a more balanced view, especially in the context of outnumbering SMEs and given existence of pitfalls and traps along the innovation path of development. Toward the end, the value of the market is once again stressed amid the concern of subjective assumption and illusion about availability of market opportunities in the mind of innovators, which may contrast totally with the dismal outcome the actual market realities may show ex post.

Keywords: innovation; emerging markets; capitalist economic system; entrepreneurial process (search for similar items in EconPapers)
JEL-codes: L26 O32 P17 P23 (search for similar items in EconPapers)
Pages: 10 p.
Date: 2014-11-05
New Economics Papers: this item is included in nep-cse, nep-ent, nep-sea and nep-tra
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