Keywords: Pakistan, entrepreneurship, globalisation, SMEs, small and medium-sized enterprises, industrial clusters, networks, innovation, change management
State of entrepreneurship and globalisation in Pakistan
Economists take entrepreneurship as the capabilities of an enterprising person to manage and organise various factors of production, take risk, innovate and imitate new things and meet the unforeseen situations. In Pakistan, non-availability of authentic data on Small and Medium Enterprises (SMEs) and entrepreneurship, overlapping mission statements of agencies working to promote SMEs and entrepreneurs, non-availability of right BDS2 providers (public and private) and non-professional management of interest groups such as chambers and associations in the industrial clusters have hampered the growth and sustainability of SMEs in Pakistan. The paper also talks about the need to understand the holistic approach based on clusters and networks development methodology to initiate the industrial change management in Pakistan.