Small and large companies have different advantages and drawbacks with innovation, but small businesses provide the most conducive environment for entrepreneurship and innovation that are not necessarily sustained by the know-how and resources characteristic of large-scale production, but require commitment and close cooperation between company members. From Schumpeter to the present, a stream of literature unites the concept of entrepreneurship with its ability to make new combinations of factors and corresponding innovations in processes and products similarly, in a broad stream of literature, the most characteristic dimension of entrepreneurship is closely linked to small businesses. These, along with case studies, clearly defined chapter objectives, reflections, role-play activities and experiential exercises, allow you to both think actively about themes, concepts and issues and then apply them to a number of suggested scenarios.The purpose of this special issue is to examine small businesses, innovation, and entrepreneurship, and show that, although these three concepts have their own specific literature and can be dealt with independently, they are closely related. Ideal for students at any level, the chapters of this book invite you to ponder upon your reading through a series of ‘reflective practice’ activities. The number of entrepreneurs has dramatically and uniformly increased globally over the last ten years.ĭivided into four sections, Entrepreneurship and Small Business Management in the Hospitality Industry takes an intuitive step-bystep progression through each stage of the entrepreneurial process: context, theoretical perspectives and definitions Concept to reality The business plan Growth and the future.

Small businesses are the backbone of the tourism and hospitality industry and, depending on which statistics one uses, represent somewhere between 75 to 95 percent of all firms globally in this sector.

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