What Are the Challenges in Promoting Innovation and Entrepreneurship?
Despite its importance, promoting innovation and entrepreneurship is fraught with challenges. Resistance to change, lack of resources, and fear of failure can stifle creative efforts. Leaders must address these barriers through effective change management strategies, ensuring that the transition towards an innovative culture is smooth and sustainable. They must also secure adequate funding and resources, and cultivate a mindset that views setbacks as integral to the innovation process.