USV Annals of Economics and Public Administration (Dec 2022)
THE ENTREPRENEURSHIP OSMOSIS IN RELATION TO ECONOMIC GROWTH'S CONCEPTUAL FRAMEWORK
Abstract
Inducing the variables that drive economic growth and development is one of the most critical task of the modern economy. All three of these components of any economy rely heavily on entrepreneurship as a catalyst for economic growth, as well as a motivation for a transition toward a market economy. Entrepreneurs leverage the power of economic opportunities, reshaping the basic economy into a resourceful one in the process by laying a stable platform for economic activities with the ability to generate development opportunities, displaying the nexus between entrepreneurship and economic development. The purpose of this paper is to determine that there are two main pillars upon which a comprehensive strategy for encouraging entrepreneurship is built: improving criteria for the entrepreneurial framework and building entrepreneurial skills, both of which are based on two distinct conceptual frameworks that connect individual actions in the macroeconomics field. Using a methodology that conducts a critical analysis of key policy priorities to improve the entrepreneurial environment through a suite of entrepreneurial concept methods outlined by the Global Entrepreneurship Monitor, the key conclusions of this paper are interconnected. We need two distinct pillars as a consistent set. Considered by the policy for the following reasons: First of all, entrepreneurs do not respond to the demands of the current framework and adapt to the approach, regardless of whether they use their knowledge and motivating elements to turn their business ideas into lucrative chances. Second, entrepreneurial conduct may always be measured by individuals and their entrepreneurial spirit, knowledge, and objectives.
