The Role of Entrepreneurship in Facing Global Economic Challenges

Raditya Santoso; Iskandar Budiono; Cristiano Joshua

Authors

Raditya Santoso University of Singaperbangsa Karawang
Iskandar Budiono De La Salle University
Cristiano Joshua Philippine Normal University

Keywords:

Entrepreneurship, Challenges, Global Economy, Role

Abstract

This research confirms that entrepreneurship plays an important role in overcoming global economic challenges and driving economic growth in Indonesia. Findings from in-depth interviews, quantitative data analysis, case studies of entrepreneurship programs, and literature reviews show that entrepreneurship not only adapts to market changes and geopolitical uncertainty, but is also a major motor of sustainable economic growth. Innovative entrepreneurs have the ability to turn challenges into opportunities, with important support from the government and related sectors. Although data shows a positive relationship between entrepreneurship and reduced unemployment, efforts are still needed to increase the number of entrepreneurs and ensure the sustainability of entrepreneurship programs. Evidence-based policy recommendations, such as increasing access to funding and providing specific training, as well as synergy between stakeholders, are key to strengthening the role of entrepreneurship in overcoming global economic challenges and advancing inclusive economic growth in Indonesia.

References

Abdullah, Boedi Prof, DR., MAg dan Drs. Beni Ahmad Saebani, MSi, (2014), Metode Penelitian Ekonomi Islam, Muamalah, Bandung: CV Pustaka Setia.

Al Mamun, A., & Mahbub, M. U. (2017). The role of entrepreneurship in economic development of Bangladesh. International Journal of Entrepreneurship, 21(2), 1-17.

Ali, Yassin Sheikh Ali dan Jama Abdullahi Anshur (2012), Entrepreneurship Contribution to Economic Growth: An Empirical Study on Benadir Region, International Journal of Business and Management Tomorrow Vol. 2 No. 9, 1-8

Alvarez, S. A., & Barney, J. B. (2015). Discovery and creation: Alternative theories of entrepreneurial action. Strategic Entrepreneurship Journal, 9(4), 319-334.

Audretsch, D. B., & Keilbach, M. (Eds.). (2017). Entrepreneurship and regional development: Local processes and global patterns. Routledge.

Baumol, W. J. (2015). Entrepreneurship: Productive, unproductive, and destructive. Journal of Business Venturing, 19(2), 231-234.

Baumol, W. J., Litan, R. E., & Schramm, C. J. (2017). Good capitalism, bad capitalism, and the economics of growth and prosperity. Yale University Press.

Carree, M. A., van Stel, A. J., Thurik, A. R., & Wennekers, S. (2017). Economic development and business ownership: An analysis using data of 23 OECD countries in the period 1976–1996. Small Business Economics, 19(3), 271-290.

Darwanto, (2012), Peran Entrepreneurship Dalam Mendorong Pertumbuhan Ekonomi Dan Peningkatan Kesejahteraan Masyarakat, Diseminasi Riset Terapan Bidang Manajemen & Bisnis Tingkat Nasional Jurusan Administrasi Bisnis Politeknik Negeri Semarang.

Drucker, P. F. (2017). Innovation and entrepreneurship: Practice and principles. Routledge.

Gries, T., & Naudé, W. (2016). Entrepreneurship and structural economic transformation. Small Business Economics, 47(2), 1-24.

Hill, B. (2017). The role of entrepreneurship in economic growth. Journal of Economic Growth, 22(3), 303-328.

Kirzner, I. M. (2015). Competition and entrepreneurship. University of Chicago Press.

Kuratko, D. F., Morris, M. H., & Covin, J. G. (2019). Corporate innovation & entrepreneurship: Entrepreneurial development within organizations. Cengage Learning.

Latumaerisa, Julius R. (2015), Perekonomian Indonesia dan Dinamika Ekonomi Global, Mitra Wacana Media.

Prasetyani, Dwi (2020), Kewirausahaan Islami, Surakarta: CV. Djiwa Amarta Press.

Shane, S. (2017). A general theory of entrepreneurship: The individual-opportunity nexus. Edward Elgar Publishing.

Shane, S., & Venkataraman, S. (2018). The promise of entrepreneurship as a field of research. Academy of Management Review, 43(2), 460-463.

Shepherd, D. A., & Patzelt, H. (2017). The new field of sustainable entrepreneurship: Studying entrepreneurial action linking “what is to be sustained” with “what is to be developed”. Entrepreneurship Theory and Practice, 41(1), 1-9.

Van Praag, C. M. (2017). The more business owners, the merrier? The role of tertiary education. Small Business Economics, 48(3), 503-523.

Wennekers, S., & Thurik, R. (Eds.). (2016). Handbook of entrepreneurship and sustainable development research. Edward Elgar Publishing.