Entrepreneurship in the network economy

The network economy typically signifies a notion from the information society where new products and services are developed by collaborating individuals and/or businesses organised in virtual networks. The network economy has important characteristics in common with Northern European governance models, which suggests a direction for developing workable governance models for businesses engaging in network economy activities. This resemblance presents a unique perspective on global economic development. Innovation can and should be combined with high ethical, social and environmental standards. This is illustrated by empirical data on Hidden Champions in Europe: middlesized companies that are dominant in their specific market niches. We suggest that the rise of the network economy could have far-reaching consequences for the way businesses should be organised and managed.