The Necessity of Innovation for the Sustainable Development of Romanian Entrepreneurship

• Author: Dovleac, L.
• Position: Centre of Economic Research, ICDT, Transilvania University of Brasov
• Pages: 117-124

Bulletin of the Transilvania University of Braşov

Series V: Economic Sciences • Vol. 7 (56) No. 2 - 2014

THE NECESSITY OF INNOVATION FOR

THE SUSTAINABLE DEVELOPMENT OF

ROMANIAN ENTREPRENEURSHIP

Lavinia DOVLEAC1

Abstract: Entrepreneurship is an important pillar for the economic growth,

generating businesses and jobs. Above that, entrepreneurship is a necessity

in our society, due to the higher rate of unemployment among young people

all over European Union. In Romania, there is a po sitive attitude towards

entrepreneurship and many people have the courage to start a business. This

paper aims to find how these new businesses can be strengthened, in order to

become sustainable and what the importance of innovation in this process is.

Key words: entrepreneurship, innovation, sustainable deve lopment,

business environment.

1 Centre of Economic Research, ICDT, Transilvania University of Braşov.

1. Introduction

In recent decades, innovation has become

the focus of economic research as a key

long-term factor of economic development.

Improvements in the quality of life require

new products and services. Innovative

entrepreneurs are essential to the economy

because they create the companies that form

new industries and generate economic

growth.

In the context of the innovation process,

the roles of small and large firms often

differ. Small firms have to be innovative

because that is the only way they can

penetrate the market or stay thereon.

Although the names of many large firms are

often associated with new products and

processes, research has shown that even in

global industries, small and medium-sized

companies are often the source of new ideas

that are integrated into other products or

brought to the market in their own right by

large firms [15].

This paper has the following goals:

- to identify the evolution of new

businesses started in the last years

- to determine the proportion of real

innovative businesses in Romania at this

moment.

- to find the main sectors where new

businesses and innovative businesses were

started in the last 2 years.

- to determine which are the obstacles in

the entrepreneurship phenomenon

development.

The paper is structured on two parts. The

first part includes the theoretical aspects

regarding the relationship between entre-

preneurship, innovation and sustainable

development. The second part includes the

state-of-art of entrepreneurship and

innovative businesses in Romania. In the

end, there are dropped some conclusions

based on the approached issues.