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.