IIARD International Institute of Academic Research and Development

WORLD JOURNAL OF ENTREPRENEURIAL DEVELOPMENT STUDIES (WJEDS )

E-ISSN 2579-0544
P-ISSN 2695-2483
VOL. 9 NO. 4 2024
DOI: 10.56201/wjeds.v9.no4.2024.pg141.166

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Strategic Entrepreneurship and National Economic Development: A Theoretical Approach

Nwabuatu, Emmanuel Nnajiubah (Ph.D)

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Abstract

In an era of rapid technological advancements and shifting global landscapes, strategic entrepreneurship has become crucial for national economic development. This paper explores the interplay between strategic entrepreneurship and national economic development, highlighting challenges such as inadequate support systems, limited access to finance, and regulatory barriers that hinder entrepreneurial success and perpetuate regional inequalities. Using frameworks like the Resource-Based View (RBV) and Dynamic Capabilities Theory, the study examines theoretical and empirical evidence, distills best practices, and offers policy recommendations. Findings emphasize the transformative potential of strategic entrepreneurship in driving innovation, job creation, and addressing economic disparities. Recommendations include fostering entrepreneurial ecosystems, promoting innovation, facilitating stakeholder collaboration, ensuring funding access, and streamlining regulations. By implementing these measures, nations can leverage entrepreneurial creativity for sustained growth and global competitiveness.

keywords:

Strategic Entrepreneurship, National Economic Development, Innovation,

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