A successful economy,it is claimed,requires entrepreneurial activity because:

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Entrepreneurial activity drives innovation and enables organizations to search for new opportunities to improve products, services, and processes. This is crucial in a highly competitive economy where organizations need to constantly revise their strategies and adapt to changing markets in order to remain successful. Opportunities will not simply present themselves without entrepreneurial initiative and constant effort to stay ahead of the curve. Cooperation between companies is also important, but it is not the main driver of economic success. Hyper-competition and the need for new business models are outcomes of entrepreneurial activity, rather than reasons for it.

A Successful Economy,it Is Claimed,requires Entrepreneurial Activity Because