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

Contemporary Entrepreneurial - Essay ExampleInformation was also sourced from reliable online sources much(prenominal) as newspaper articles of major media houses such as CNN, and reports posted on websites of international financial and economic organizations such as the International Monetary Fund and the Organization for Economic Cooperation-operation and Development. These online reports were used because they suffer their information 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 hard copies were not available.The Greek small and mass medium enterprise (SME) sector plays a very crucial role in the countrys economic development. The SME sector employs the majority of Greeces labor get out and accounts for two thirds of the non-primary sector sales volume. The SME sector has particularly been important in the wake of the debt and economic crises t hat have been facing 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 umpteen 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 result of entrepreneurship driven by innovation. The general reduce in demand for goods due to falling income levels led to fierce competition among SMEs forcing businesses to initiate value-driven innovations in a bid to obtain an edge over competitors. through and through the PESTLE 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 f actors.The political factors that affect the ability of