Why do underdeveloped countries need imitative than innovative entrepreneurs?
Once we pay our attention to the given statement, in many cases in order to innovate new product or service it is subject to series of activities.
Conducting Research & Development Exercises
Testing of the Product
Acquire expertise Knowledge
Incurring Initial Capital
Since developing countries have number of constraints over above factors, it is prudent to adhere to the Imitative entrepreneurship.
How ever there might be a situation where we can create innovative product with out such cost involvements.
Hence in such a situation, one can address the innovative entrepreneurship.
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