BEST ISO Pakistan

BEST ISO Pakistan ISO Certification body

25/07/2021

Creative Entrepreneurship in Asia

CONCLUSION
Overall, the study meeting met its intended objectives. There was lively discussion
of the issues faced by member countries seeking to develop creative entrepreneurship. The
mix of policy makers, entrepreneurs, and representatives from trade and professional
associations facilitated the discussions. The country papers and case studies revealed the
myriad forms that creative entrepreneurship can take in an economy. Positive feedback
was obtained from the participants, and some of the entrepreneurs found common interest
in business ventures and may pursue collaborative alliances.

25/07/2021

Creative Entrepreneurship in Asia

APO Entrepreneur of the Year Award
To encourage innovation and to measure the success of entrepreneurship, the
participants suggested the introduction of the APO Entrepreneur of the Year Award (EYA).
The award could provide a consistent platform to measure successful entrepreneurship.
One main criterion for the APO EYA should be the ways entrepreneurs encourage the use
of technology and the promotion of innovation retain enterprises. This may be the
hallmark of a successful entrepreneur.

25/07/2021

Creative Entrepreneurship in Asia

Business plan competitions, which incorporate technology adoption and innovation,
are a good opportunity to start young budding entrepreneurs thinking about innovation at
an early age. In some countries, business plan competitions have already been established.

25/07/2021

Creative Entrepreneurship in Asia

Education
Educational institutions could provide the technical know-how and the innovation
process management skills to senior managers in corporations. Studies have also shown
that general education can enhance innovation. The adoption of technologies is more rapid
in countries with higher literacy rates. Thus education and academic institutions can play a
significant role in the adoption of technology and innovation creation in an economy.

25/07/2021

Creative Entrepreneurship in Asia

” Access to R&D facilities is the main advantage for
promising SMEs to be based in incubators. Mentors can lend their experience to the
incubating enterprises and guide them through the potentially disruptive innovation
process

25/07/2021

Creative Entrepreneurship in Asia

Incubators and Mentors
Incubators run by universities and research groups could assist businesses,
especially SMEs, to grow in a conducive environment. Researchers, specialists, and
consultants should be available to the enterprises being incubated. The credibility of the
“host” incubator could lend weight to the tenants, thus attracting better funding from the
government or business “angels.

25/07/2021

Creative Entrepreneurship in Asia

Communication
Organizations should be encouraged to promote open channels of communication
among all levels of management so that no ideas are brushed aside. Stakeholders could
play a significant role in the provision of information and intelligence to enterprises. For
example, industrial associations could provide regular updates on changes in government
policies and new incentive schemes to enterprises. This would make it easier for enterprise
decision makers to utilize government incentive schemes

25/07/2021

Creative Entrepreneurship in Asia

Government Policies
Governments could assist in providing conducive environments for the creation of
innovation and the adoption of technology. In many countries, governments could provide
technology upgrading incentive schemes and financing schemes to ease cash flows or
increase capital for R&D activities within enterprises. Governments may pass laws or
guidelines to protect SMEs from intellectual property rights abuses. This will encourage
small businesses to innovate and reinvent. The main objective of government policies on
these issues is a substantial net increase in the level of high-quality R&D in enterprises
and to ensure an integrated and unified approach to research-related activities. These
should cover industrial R&D, process development and innovation, and technology
acquisition.

25/07/2021

Creative Entrepreneurship in Asia

Networking
Networks should be encouraged as they are means for the exchange of ideas.
Alumni networks, trade associations, industrial bodies, and informal business contacts
could provide a good platform for like-minded and complementary business people to
interact, exchange best practices, and possibly ignite technology transfers among
enterprises. Networks can facilitate the rapid dissemination of knowledge and know-how.
In addition, trade or industrial bodies and societies can be screening agents for promising
business matchmaking opportunities, thus enhancing the ability of businesses to
collaborate.

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Creative Entrepreneurship in Asia

Pertinent to creative entrepreneurship is the role of these stakeholders in the
promotion of innovation and technology adoption. The participants recommended the
following:

25/07/2021

Creative Entrepreneurship in Asia

They can provide platforms for entrepreneurs to move forward in the right
environment to create, innovate, and adopt technologies to succeed or to survive. There are
six elements in successful and positive environments for creative entrepreneurship: market
support, intelligence support, financial support, legislative support, technology support,
and infrastructure support. These elements of the environment should be freely accessible
to entrepreneurs. They should work hand-in-hand to promote the efficiency and
productivity of enterprises leading to a synergistic outcome

25/07/2021

Creative Entrepreneurship in Asia

The Role of Governments, Trade Associations, and Other Stakeholders
It is important for governments, trade associations, and other stakeholders to assist
entrepreneurs in sharpening their skills in management and leadership qualities and to
provide the necessary tools to identify opportunities. They often provide the external
impetus and staff experience that lead to productive changes in management processes
facilitating the creation of new products and services. Their suggested main roles are:

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