How Entrepreneurial Management and Continuous Learning Affect the Innovation and Competitiveness of Companies?

Abstract

Entrepreneurial management and continuous learning can significantly impact the innovation and competitiveness of companies and improve the performance of a business. Today business faces numerous and complex challenges. Companies require new skills and methods to gain and sustain a competitive advantage. The goal of the research is to understand how entrepreneurial management and continuous learning affect the innovation and competitiveness of companies. We conducted desk research, narrative research to retrieve necessary information and responses to the questions. The study followed a methodology of a narrative review of the literature, articles, and the other sources related to the task by synthesizing concepts. The research findings confirmed our hypothesis – entrepreneurial management and continuous learning are the key determinants for a company’s success in today’s global marketplace. As organizations, industries, and consumers become more dynamic, effective entrepreneurial management becomes more important. Staying competitive means that organizations need to be innovative, adaptive, and everchanging. An organization’s ability to learn is a key strategic capability to compete in modern markets. Driven by disruptive changes, challenges, and technological growth, rapid advances in the field of artificial intelligence are creating a massive shift in terms of proficiencies, the expertise expected in employees. To innovate, to try a new process, or to do something new all requires learning. Lifelong learning plays a key role in helping employees to develop the necessary skills and expertise. Creating a learning culture within the organization is an effective way to improve performance and innovation. The research findings will be applicable for a broad auditorium interested in the topic and herewith the study results will contribute to future field research in this domain.