Global Entrepreneurship and Innovation 1

GLOBAL ENTREPRENEURSHIP AND INNOVATION

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 Global Entrepreneurship and Innovation 2

Table of Contents
Executive summary.........................................................................................................................3
Part 1: Global Entrepreneurship, Innovation and Sustainability: Theory and practice...................4
Introduction..................................................................................................................................4
Fundamental Ideas Discussion.....................................................................................................5
Real-World Examples Discussions..............................................................................................7
Making the Culture..........................................................................................................................8
Deploying culture............................................................................................................................9
Cultural Making.............................................................................................................................10
Part 3: My Global World: Critical Reflection of Entrepreneurial Theories, Concepts, and
Techniques.....................................................................................................................................11
Entrepreneurial Theories Reflections.........................................................................................12
Reflection on the Concepts........................................................................................................13
Reflection on the techniques......................................................................................................13
Conclusion.....................................................................................................................................14
References......................................................................................................................................16
 Global Entrepreneurship and Innovation 3

Executive summary

There is a growing reaction that change is directed towards reducing the adverse effects

societal and environment that are formed by unjust practices of business. Similarly,

entrepreneurship is endorsed as the practice that is most operational towards making growth

sustainable. Cultural entrepreneurship and popular culture are recognized to be the most

compelling cause that are behind cultural and creative dynamics in industries. It occurs mostly

on industries that have reached or attained high levels on innovation and creativity particularly in

countries that are more developed like. Though, some notable challenges and issues are

associated with cultural entrepreneurship and popular culture. For instance, there is a challenge

on distorting the existing boundary between cultural entrepreneurship and entrepreneurship.

Moreover, the problem is focused with the probability of creating the goods to the people in the

community. However, the underlying increase in interest in cultural entrepreneurship and popular

culture is essential in making one realize that sustainability is a want to grow and nature

innovations. The growth on maturing innovations should be done within the limits of knowledge

and traditions. The primary idea behind this is that education, heritage, and traditions offer states

with cultural acquaintance through which innovation emanates from, it defines recognition of

potential markets and to use the available market opportunities appropriately.

 Global Entrepreneurship and Innovation 4

Part 1: Global Entrepreneurship, Innovation and Sustainability: Theory and practice

Introduction

Organizational managers are finding it hard get a balance between the needs of survival

and the long term demands as well as finding new sources of growth. The organizational

managers are struggling this hard because this is a moment when the entire industries and

economics are suffering from the financial crisis. Cultural entrepreneurship and popular culture

are the subject matter selected for this case. The topic being focused here is linked to the

international entrepreneurship, sustainability, and innovation theme as far as the global arena is

concerned. Entrepreneurship is referred to as the ability of a person to turn ideas into actions.

The ideas and actions include creativity, innovation, risks taking, and the ability to plan and

manage a firm. However, in today's contemporary world, entrepreneurship is recognized as a

basic skill that is acquired through lifelong learning. There are three aims of this paper. One of

the aims is to analyze the fundamental challenges and issues associated with entrepreneurship

towards making global society and environmental growth sustainable. Secondly, this paper aims

at analyzing and evaluating the academic premises, importance of global entrepreneurship

theories, and results achieved from peer-reviewed journal articles. Thirdly this paper aims at

examining, evaluating and explaining concerns and conclusions of the findings using examples

from the real-world that are associated to global entrepreneurship.

Through the intension of creating well-versed effect entrepreneurship, the word

entrepreneurship, entrepreneurship practices and theories were used along popular culture and

cultural practices. The practices were used as examined algorithms based on various search

engines like Taylor and Francis, Google, Ebscohost, and WorldCat d Discovery service.
 Global Entrepreneurship and Innovation 5

Additionally, Facebook is another example that has been innovative in creating new relationships

and connections on a global scale. The algorithms were examined using various kinds of

literature reviewed journals, articles, books, and reports for a comprehensive literature that was a

target in this research. The kinds of writings used came from various contributions starting from

the year 2016 till 2020.

Fundamental Ideas Discussion

There is a growing reaction that change is directed towards reducing the adverse effects

societal and environment that are formed by unjust practices of business. Additionally,

entrepreneurship is endorsed as the practice that is most operational towards making growth

sustainable (Piva and Rossi 2018, p.669-681).

Though, following Drover, Busenitz, Matusik, Townsend, Anglin and Dushnitsky (2017,

p.1825-132), irrespective of the prospective entrepreneurship, it is important to embrace and

direct innovation and sustainability goals towards addressing societal and environmental

concerns appropriately. There is still noticeable uncertainty regarding nature and role of

entrepreneurship. Besides, the works on sustainability and innovation within the research

surrounding general entrepreneurship has been negatively affected.

Entrepreneurship is acknowledged in the world as the most likely answer for promoting

changes in the direction of a justified economy. However, there are some few challenges as well

as issues when it comes to the understanding of how and when such changes can occur,

particularly in developing nations. Following Schwienbacher (2018, p.50), millions of people in

the world have been deprived of honorable life and are left to struggle surviving in poverty. Over

time, people have experienced increasing massive power, inequalities, opportunity disparities

and wealth among and within nations. Additionally, the majority of the literature associated with
 Global Entrepreneurship and Innovation 6

levels of sustainability and innovation do not consider cultural entrepreneurship and popular

culture as the fundamental dimension towards solving societal and environmental negative

impacts developed by unjust practices of business.

Popular culture together with cultural entrepreneurship is determined as the driving cause

behind the creation and dynamics of cultural impacts that have shown the importance on

innovation and creativity on nations that are developed. Consequently, there is the challenge on

cultural entrepreneurship concealing the border between cultural entrepreneurship and

entrepreneurship. Cultural entrepreneurship produce, generate, and market cultural products and

services as well as adding cultural value for buyers and creating economic, cultural, and social

prospects for inventors. They comprise of small, micro, and macro enterprises and organizations

in sectors like the multimedia, architecture, music, performing arts and publishing houses

(Amuna, Abu, Mazen, Samy and Suliman, 2017, n.p). It makes it a trial to explain where classic

entrepreneurship ends, and cultural entrepreneurship begins appropriately.

In this case, Pura is a multimedia video production service enterprise that is located in

Portland, Oregon. The mandate of the firm is to help the poor people living in both rural and

urban areas in developing nations through educating them about using media to learn about

cultural entrepreneurship. Pura Company will take care of the challenges affecting the people on

production and manufacturing by making the entire process to be cheap compared to other firms.

All the consumers will be adequately taken care of, and the company service will be excellent. It

will be done by employing new ideas, inventions, and techniques to help retain customers.

Secondly are the challenges regarding the absence of clear boundaries among culture

managers and culture entrepreneurs. The role of an entrepreneur is to pursue chances that

concern resources that are currently under control. Additionally, they have to do this, at the same
 Global Entrepreneurship and Innovation 7

time taking risks that are well calculated to identify results that are beneficial to the targeted

audience widely. However, organizational managers have to practice stand practices that will

lead towards sustaining functional corporate systems. Thirdly it involves combining together of

collaborative working challenges that involves individual values. The individualistic value or the

independence of the individual is considered as an important part that facilitates innovation of

entrepreneurial and creativity that promotes cultural entrepreneurs to perform more for society

unlike classic entrepreneur.

Looking at Blaug and Towse (2020, np), cultural entrepreneurship and popular culture

experience high successful capabilities that pushes them towards tracking the ventures they have

selected which is important if it is embraced and taught effectively to entrepreneurs. However,

such essential skills are not yet taught traditionally to entrepreneurs that are innovative. It leaves

entrepreneurs not prepared to solve the important challenges and issues adequately in order to

have a more successful economy. Cultural entrepreneurship contains a high predisposition to

train business skills that are basic. It teaches in a way that is significant to overwhelm the

challenges and issues of operating small scale businesses and sustainably marketing products that

are innovative.

Real-World Examples Discussions

Looking at the increase in attentiveness in cultural entrepreneurship and popular culture,

it is therefore crucial to know than to realize sustainability. It is because there is a necessity to

grow and nurture innovations alongside cultural knowledge and traditions. It is because

education, heritage, and traditions offer countries with cultural acquaintance. It is through

cultural acquaintance where change that defines how to realize markets that are potential and

making use of the available market opportunities originates. Figure 1 illustrates how cultural
 Global Entrepreneurship and Innovation 8

entrepreneurship has a high tendency of making economics become a critical tool that helps to

achieve and realize cultural values (Bingde, Shihui and Ling 2017, p.2).

figure1: Popular Culture Entrepreneurship and Economic Development

Source: Blaug and Towse (2020)

Making the Culture

Making the culture refers to an area that is responsible in developing and forming and

organizational foundation that is useful in high culture development in the world. The two ideas

used in this paper are essential to the conceptualization of the factors on cultural

entrepreneurship. It is important to understand what is comprised of a culture that is high because

this matter is appreciated in the factors happening in the theaters. It also takes place in the

museums, the opera houses, and the symphony halls. There is an understanding about the culture

as to whether they are intended for their commercial abilities or for folk purposes when viewed

from the aspect of popular culture. Many studies and researchers argue that distinct cultural

models in the world began between the years 1850 and the year the 1900s (Sauer and Wilson,

2016, p 79). The studies show how distinct cultural models started by uplifting of their private

and semiprivate noncultural institutions in the big commercial industries.

 Global Entrepreneurship and Innovation 9

Secondly, there is an existing procedure on how public institutions are forged in the

society by the leaders. This gesture has brought out about three different processes involved in

the study. One of the methods includes entrepreneurship that handles the process of creating

measures and governing the leaders to create the organizational form in the organization system.

The second process is under the classification that is responsible with the development of the

boundaries in the company between art and entertainment. The third and last distinct process is

the framing of culture to handle the development of the new etiquette to the amount that suits

both audience and art. Emphasizing on a culture that is high is usually attached to the problems

that are linked to popular culture in the community. Therefore, much focus is placed upon the

production of culture, which is referred to as the non-materials products meant for the loyal

buyers. The majority of the instructions are produced in appealing values as it differs with the

clarity and practical function of the whole process (Lock and Smith, 2016, np). Most of the

researchers have been framed in the same issue based on cultural entrepreneurship. Such kind of

a structure is mainly created on the many trials of the firms to adapt with the uncertain and

unstable environments of market. Therefore entrepreneurship is considered as the innovative

combination of the fundamentals that are in existence. The subject matter of challenges stresses

on the statistic that the combination art encompasses to the social, moral, and cultural sphere of a

company.

Deploying culture

Deploying culture is focused on the understanding on how culture changes in the

organization and management sector. Deploying learning is built on important ideas that

illustrates and explains why culture is actively and strategically created to be flexible. It is then
 Global Entrepreneurship and Innovation 10

used when the players are struggling to make a more pronounced meaning into the world in a

better way. Entrepreneurs are viewed as skilled operators that are potential of culture that is

always concerned with shaping the target consumers in community. Additionally, the

entrepreneurs are also seen as people responsible for interpreting the ideas and ventures used in

the procedure of entrepreneurship. Entrepreneurs are seeking to contribute to culture by

delivering something that is of value beyond their products and services in order to remain

relevant in the market industry. It is because many brands are overlooking something that is right

within their efforts that can inspire their brands to mean more to the consumers. The primary

consideration in the deploying culture process depends upon the legitimacy acquisition of

irrespective levels in the approach of the organizational (Bingde, Shihui and Ling, 2017, p.2).

Cultural efforts emphasize on new roles of employees within the new space where multiple

activities take place in order to transform the staffing function.

Cultural Making

Cultural making described at least two selections related to cultural entrepreneurship as

created in a perspective that is parallel; however, they rarely meet or cross ways. Cultural making

always depends on the boundaries that exist in the other two mentioned traits. This latest style of

cultural making is based on the new methods in that controls of the system affecting the events

different ways (Lounsbury, Cornelissen, Granqvist and Grodal, 2019, p.10). Cultural making is

created or developed on the level that views culture as both the medium and outcome used in the

entrepreneurial action. In economic development, culture-making is not easy to handle because

the aim of identifying causal relationships mostly dictates it. Cultural making is the product of

learning habits that are shared by members of society. Currently, cultural making has come about
 Global Entrepreneurship and Innovation 11

with the revived intention of responsiveness to the different stages of culture in the community.

However, it is also possible that culture disguises other forces at work that are closer to change.

Consequently, cultural making adheres to some aspects of culture making that cuts across the

values, frames, groups, and toolkits of an explicit culture. Therefore culture explains and extends

the key foundations and integrating the theoretical insights and empirical interest from the

previous varieties at the same time (Schwienbacher, 2018, p.856).

Part 3: My Global World: Critical Reflection of Entrepreneurial Theories, Concepts, and

Techniques

My global world works on the establishment of the consideration concerning the

methods, theories, and concepts used in entrepreneurial readings. The main intention of this part

is to establish whether entrepreneurial theories provide guidelines using clear definitions of the

realms used by the whole system worldwide. This part aims to show how the concepts of

creativity and innovation can be acknowledged in the respective fields. Additionally, it is to show

how creativity and innovation can be and linked to domains and constructs at the same time with

the same system of events. The models could then be regarded as the exceptional facilitators to

the entrepreneurial domain (Castaldi, 2018, p.611). However, cultural entrepreneurial and

popular cultures have three perspectives that they can focus and solve.
 Global Entrepreneurship and Innovation 12

Entrepreneurial Theories Reflections

During establishments of the boundaries in the domain, there is a need to have an

understanding that the investigations conducted in the theories are relevant. The entrepreneurship

process starts with taking action. In this stage of the making of the action, there is needed to

develop a new organization. The new organization will include evaluating of the feasibility of

new emerging markets and antecedents to the process of creation, among other things. The

creation of the organization will involve describing the behaviors resource attributes such as

integrating and acquiring resources and attributes that described creating a business that adds

value. The second stage or dimension depends on venture performance. In entrepreneurship,

growth is the main characteristic of the venture. It is because entrepreneurship involves

integration and resource acquisition in creating new venture activities that articulate the idea of

value creation. Looking at this matter, it is essential to have a meaningful understanding growth.

There is also quantitative growth, which is characterized as the expansion in the firm size that

encompasses the questions interrelated to turnover, value, and volume. Quantitative growth also

pins its application on the shareholders values in the organization. Quantitative growth can also

be said to be the focus of economic analysis (Gehman and Soublière, 2017, p.69). It is because it

has a qualitative characteristic with increasing quality that is more of a long term economic

development.

On the other hand, there is an existence of qualitative growth that is connected to the

organization quantitative objectives. The quantitative goals are just not mere aims. They are also

the features that are connected to the strategic means of the realization in the whole growth of the

business. Some of the examples used in this case include product quality, competitive position,

and customer service (Özsomer, 2019, np). The systematic development theory is determined by
 Global Entrepreneurship and Innovation 13

the unanimity surrounding some of the conventional concerns concerning entrepreneur's training.

The movement towards the complicated statistical techniques and research methods are mainly

focused or directed on the applications of the larger samples and their use. Nevertheless, the

division and attention to intrepreneurship and entrepreneurship make the important part of the

development theory. There are very few mathematical models that are readily available as much

as there are several theories of development.

Reflection on the Concepts

There has been an increase in the negative impacts on the social and environmental

aspects due to the increasing growth in population and the rising of materials privileged

circumstances in the world. Entrepreneurship, sustainability, and innovation that is appropriate

can facilitate and promote the transition that is much-needed towards more sustainable

production and consumption arrays as a consequence. It takes account of radical, in addition to

increase sustainable innovation that has not been exploited. It shapes the millions of people in

the world that are denied of a distinguished life and move on to succeed in untiring poverty.

Additionally, it shapes the support within among and within countries towards reducing the

inequalities that have been increasing, massive power, addition to disparities in opportunities and

wealth (Cornelissen, Granqvist, Grodal and Lounsbury, 2017, np). Developing countries use

multinational organizations and developing agencies to eliminate poverty by not compromising

with respect to community development in order to reduce the persistent poverty levels.

Reflection on the techniques

Effective entrepreneurship application theories have a very high tendency towards

orienting individual persons to obtain a culture that is able to create thoughts and engage in

innovative developments. It also allows entrepreneurs to focus on finding new ways and provide
 Global Entrepreneurship and Innovation 14

efforts to better use of resources that the objectives of the organization (Malecki and Spigel,

2017, n.p). Apart from being innovative, developments can generate high productivity,

sustainability, and profitability. For example, it is encouraging females to be more active and

participate in various ventures that are innovative in parts of the developing nations. It is an

essential instrument for the realization of potentials among the deprived and marginalized

societies that have been isolated from the mainstream economy (Gehman and Soublière, 2017,

p.72). However, they can make minority individuals and marginalized individuals start a venture

that is innovative from an undesired state of affairs.

Conclusion

Innovation is among the top fundamental associations of entrepreneurship. Innovation

states that majority of entrepreneurs are created on the basis of culture and cultural community.

The cultural practitioner's like publishers, writers and all other remaining ones are very unique.

They are unique in making something innovative out of nothing before releasing it in the market

or community. The ability to manufacture goods and services that will satisfy every consumer in

the market is among the problems that concern the cultural entrepreneurship and popular culture.

Characteristically cultural entrepreneurship is mainly concerned with creating products that are

popular culture and for a specific targeted market. Cultural entrepreneurship and popular culture

are believed to be the main reasons or cause behind the cultural dynamics and creation impacts.

Cultural entrepreneurship and popular culture have both increased the emphasis on innovation

and creativity on countries that are already developed. Moreover entrepreneurship is recognized

in the world as the most preferred solution that promotes changes towards achieving a just

economy in developing and developed nations. Unfortunately, there are still few challenges and
 Global Entrepreneurship and Innovation 15

issues when it comes to understanding of how a transition can occur, particularly in developing

nations. Additionally, it is more concerned with its language and culture that has made it difficult

to transfer the products and services to market. It is because they will understand the products

and services in a different way or manner. Therefore understanding the increase in interest

regarding popular cultural entrepreneurship and popular culture, it is crucial to understand than

to realize sustainability. it is because there is need to grow and nurture innovation within cultural

knowledge and traditions.

 Global Entrepreneurship and Innovation 16

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