Different Types of Entrepreneurship: IDE versus SME
Job multiplier effect
Creates five jobs for each direct job in an IDE.
Innovation-driven Enterprise (IED)
Pursue global opportunities based on bringing to customers new innovations that have a clear competitive advantage and high growth potential.
Small and medium enterprises (SME)
Serves local markets with traditional, well-understood business ideas and limited competitive advantage.
Business acumen
An entrepreneur's ability to execute their project.
Joseph Schumpeter
Coined the term "new combinations".
Innovations
New-to-the-world in the technical, market, or business model domain.
Small business entrepreneurship
The creation of SME's.
Auxiliary employement
The employment of staff to support or suppliment
New Combinations
The entrepreneur's awareness of the need to build competitive advantage by taking today's resources and doing something distinctive with them.
