In recent years, the globalization of markets combined with the Industry 4.0 revolution has brought increasing competition among enterprises. Nowadays, organizational success is measured by leadership in the market share, revenue growth, level of competitiveness supported by customer satisfaction, and innovation capacity. Therefore, companies need to develop new products and/or services faster and better than their competitors to stay “alive.” In order to respond quickly to market needs, enterprises should operate more efficiently reducing and/or eliminating activities that make up the actual processes that do not add value but also they need to develop a “healthy” cultural environment within the organization that allows the implementation of new ways of work. In this context, the innovation capacity assumes a decisive importance in the level of competitiveness of an organization, and the entrepreneur plays an important role in launching new business. Based on this perspective, the innovation processes within an organization are obtained through entrepreneurial initiatives that have their origin in the existence of an organizational culture that promotes an entrepreneurial behavior.
Part of the book: Globalization
This chapter aims to (i) understand the functioning and importance of incubators in supporting the creation of new business and local economic development, as they help locally engage young entrepreneurs and thus retain expertise, for example, in regions farthest from large urban centers, (ii) realize the importance of incubators and science parks in the development of start-ups, (iii) understand the role of education in promoting entrepreneurship, and (iv) understand the competitive environment as it becomes more complex and dynamic, as there are opportunities to serve customers who are dissatisfied; thus the threats that large companies experience offer small business opportunities.
Part of the book: Intellectual Property Rights - Patent