Globalization in the 21st Century and Its Effects on Entrepreneurism and Innovation Ecosystems: A Call to Action for Africa

Authors

  • Van R. Wood, Ph.D. Professor of Marketing, Philip Morris Endowed Chair in International Business and Director-Center for International Business Advancement (CIBA – www.ciba.vcu.edu) School of Business, Virginia Commonwealth University, Richmond, VA USA
  • Brandon J. Price, Ph.D. International Professor of Entrepreneurship, Colleges of Business and Engineering, Universidad Panamericana, Guadalajara, Jalisco, México, and President and Co-Founder, Biogenin, S.A.P.I. de C.V., Guadalajara, Jalisco, México
  • Hans Martens, M.A Political Science. Senior Advisor with the European Policy Centre, Brussels, Belgium.

DOI:

https://doi.org/10.14738/abr.113.14274

Keywords:

Globalization, Innovation, Entrepreneurship, Economic Development

Abstract

In this paper, we briefly discuss how globalization has, over the last thirty years, influenced virtually every aspect of world political, economic, social and environmental development.  This discussion will set the stage for our overview of innovation and entrepreneurism and economic development, gleaning insight from a report from Ernst & Young (see The Power of Three 2013) and from another report focusing data from 49 African countries (see - “Global Entrepreneurship Monitor – 2018/2019 Annual Report”).  This is then followed by insights representing a “European perspective” on developing entrepreneurship in Africa.  Finally, we focus on what needs to be done to further grow entrepreneurism and innovation in Africa and then provide a “call to action” to achieve this growth.

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Published

2023-03-22

How to Cite

Wood, V. R., Price, B. J., & Martens, H. (2023). Globalization in the 21st Century and Its Effects on Entrepreneurism and Innovation Ecosystems: A Call to Action for Africa. Archives of Business Research, 11(3), 75–89. https://doi.org/10.14738/abr.113.14274