Comparative Analysis of Innovation in Micro Entrepreneurship Inspired by Handicrafts

Abstract

An entrepreneurial occupation, which people possess even though they do not have a formal economic education, represents a tendency, a tendency that can be acquired by raising a family or competing in school, which is actually the sum of success or failure, victory or defeat. The development of this type of “entrepreneurial culture” is mostly contributed by the economic situation in the countries. Innovation in all spheres of social development is crucial for the development and progress of each country's economy. Innovation management, in fact, is the management of ideas, that is, how to collect improve and implement an idea. The aim of this paper is to see the situation as well as to perform a comparative analysis of innovations in micro-entrepreneurship inspired by handicrafts in B&H and surrounding countries in relation to some other countries in the world.