Contemporary Entrepreneurial Essay Example | Topics and Well Written Essays - 2000 words

Contemporary Entrepreneurial - Essay ExampleInformation was withal sourced from reliable online sources such as newspaper articles of major media houses such as CNN, and writings posted on websites of international financial and frugal organizations such as the International Monetary Fund and the Organization for Economic Cooperation-operation and Development. These online reports were used because they obtain their study from official government sources and thus this information is valid. In addition, online articles of peer-reviewed economic and business journals were used because in some, cases securely copies were not available.The Greek small and medium enterprise (SME) sector plays a very crucial map in the countrys economic development. The SME sector employs the majority of Greeces labor force and accounts for both thirds of the non-primary sector sales volume. The SME sector has particularly been important in the wake of the debt and economic crises that have been c ladding Greece for a couple of years now. As numerous companies went bankrupt and retrenched thousands of workers, the SME sector proved to be a valuable source of employment as it absorbed many of the employees who lost their jobs (Markatou, 2012, 56 65). Although many SMEs also went bankrupt because of the crisis, majority of them survived, and many start-ups are still coming up as a closure of entrepreneurship driven by innovation. The general decrease in demand for goods due to falling income levels led to uncivilized competition among SMEs forcing businesses to initiate value-driven innovations in a bid to obtain an edge over competitors. Through the tender analysis, this report evaluated the competitiveness of Greek SMEs by analyzing the factors that affect the ability of businesses to become or remain competitive. Factors that this report analyzes are the PESTLE factors which include political, economic, social, technological, legal, and environmental factors.The politica l factors that affect the ability of