Modern entrepreneurial practice

Abstract

Modern business conditions require an innovative approach, in order to be different from your competitors and secure a favorable market position. The innovative approach of modern entrepreneurial practice is realized through establishing the vision of business, encouraging employee innovation, taking risks and developing business ideas through a business plan. A survey was conducted on the sample of 147 organizations. It has shown that organizations encourage employees to develop innovation, managers are willing to take risks in business operations, and the vision of business in the future is clearly present. However, the conclusion is that there is not enough practice of using a business plan in the development of ideas, and there is also insufficient incentive for innovative employees. In the observed sample of organizations, it has been found that the characteristics of organizations (size, level of business and length of business) significantly influence the entrepreneurial practice.

Keywords

• entrepreneurship
• innovation
• business plan
• organization