Entrepreneurship, Innovation and Growth of Venture Businesses in Japan

摘要

This paper explores the factors influencing entrepreneurs’ attitudes toward risk and the extent to which emphasize innovation has had on the growth of venture enterprises. Conclusions are drawn from the findings gathered through a questionnaire distributed to entrepreneurs heading venture businesses in Japan.First, in Japanese venture enterprises the innovative strategies are not affected by entrepreneurs’ attitudes to risk. However, compared with other enterprises, entrepreneurs who engage in risky undertakings and market-in innovation tend to realize a surplus soon after the company was founded.Second, although venture enterprises that adopt low-risk and low-return innovation activities have a high potential to maintainable growth, this strategy alone is inadequate; entrepreneurship that involves a riskier style of management is required. Third, innovation alone carried out by venture enterprises in Japan can not contribute directly to employment creation. Rather, by combining innovation activities with market-in characteristics, enterprises are more likely to realize a surplus quickly, then achieve maintainable growth, thus indirectly contributing to employment creation.