Entrepreneurial Activity as a Driver of Economic Sustainability in the Czech Republic: Lessons from Ireland

The main goal of the paper is to reflect on the challenging economic environment currently being experienced in the Czech Republic and to explore if increased entrepreneurship could act as a driver of economic sustainability. Although there were many positive trends that could be identified as a source of sustainability in the Czech Republic over the past decade, there were considerably more challenging forces than in the past due to global crisis. During the same period, Ireland has gone from a position of deep economic to a country which Forbes magazine (2014) recently described as being the "the best country in the world in which to do business". While the strengths and experience that firms have developed will contribute to the success of enterprises in Ireland, the majority of companies must continue to differentiate themselves from their competitors in new ways in order to create sustainable competitive advantage.