MODERN ENTREPRENEURIAL PRACTICE

Abstract

Modern business conditions require an innovative approach, in order
to be different fromyour competitors and secure a favorable market position. The
innovative approach of modern entrepreneurial practice is realized through establishing the vision of business, encouraging employee innovation, taking risks
and developing business ideas through a business plan. A survey was conducted
on the sample of 147 organizations. It has shown that organizations encourage
employees to develop innovation, managers are willing to take risks in business
operations, and the vision of business in the future is clearly present. However,
the conclusion is that there is not enough practice of using a business plan in
the development of ideas, and there is also insufficient incentive for innovative
employees. In the observed sample of organizations, it has been found that the
characteristics of organizations (size, level of business and length of business)
significantly influence the entrepreneurial practice.