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Entrepreneurship in Sustainable Development: SMEs Innovativeness in Lithuania

Keywords: entrepreneurship , modernity of entrepreneurship , responsible entrepreneurship , small and medium-sized enterprise (SME) , social responsibility , knowledge , knowledge-based economy (KBE) , economic sustainability

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Abstract:

Purpose of the article – Different economic developmentin the European Union (EU) countries, especiallyevaluating knowledge-based economy (KBE), conditionsmigration of knowledge workers. Usually for that reasonthe less developed countries are suffering. So the inducementof innovation processes, good conditions ofentrepreneurship are important factors, capable stronglyinfluence accumulation of intellect instead of its lost.KBE is based on knowledge generation and utilisation,innovation, technology transfer, and, of course, entrepreneurialactivity (Krisciunas, Rinkevicius, 2002). Thesecomponents help to successfully guarantee sustainableeconomic development.The actuality of entrepreneurship in KBE reveals thescientific problem showing interplay between economicsustainability and modernization of entrepreneurship,which could even influence migration flows. The aim ofresearch is to reveal why entrepreneurship is so importantin sustainable economic development, especially looking atinnovative SMEs as an entrepreneurial enterprises.Design/methodology/approach – Theoretical researchand analysis of scientific articles and statisticaldata on small and medium-sized enterprises (SMEs) inthe EU are used in this study.Findings – The development of entrepreneurship researchwas revealed; the features of modernity of entrepreneurshipin economic sustainability as sociability, competitiveness,progressiveness, knowledge generation andusage, innovativeness, dynamism were disclosed. The resultof the interplay of modernity of entrepreneurship andmigration flows was detected and proves that the entrepreneurshipcould stop migration flows from native countries,creating job places and generating income. LithuanianSMEs innovativeness was shortly analysed and evaluated.In the country they are less innovative than large enterprises,but the results show about the average in the EU.Research limitations/implications – Theoretical conceptionsand relevant indicators crystallised in the articlewould allow to expand the research in the future and includepurposive and broader empirical analysis.Originality/value – Research revealed that the valuationof entrepreneurship seeing form Schumpeter’s researchworks is changing and developing. It is importantto embody these new conceptions in the EU countriesessential documents, related with economic development.New conception of modern responsible entrepreneurshipin sustainable economic development should be used inpractical activity of knowledge-based SMEs, embedding development and penetration of KBE economy and sustainableeconomic development.A

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