Entrepreneurship, Enterprise and Innovation: Exploring Key Concepts and Evaluating the Creation of Digital Currency

ENTREPRENEURSHIP,
ENTERPRISE AND
INNOVATION

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Key concepts about entrepreneurship, enterprise and innovation and introducing some theory
fitting for the idea........................................................................................................................3
Potential gaps and ideas of business............................................................................................4
Exploring the behaviours, characteristics, personalities of entrepreneurs and interpreting own
behavioural entrepreneur.............................................................................................................6
Evaluating internal and external factors affecting the development and creation.......................7
Process of a business start up from business to execution...........................................................9
Factors having an impact on the creation..................................................................................10
CONCLUSION..............................................................................................................................10
REFERENCES................................................................................................................................1

INTRODUCTION
Innovative ideas and creation is considered as one of the sole elements of entrepreneurship
and they have a major impact on the popularity of a new venture. The new idea is the
introduction of digital currency which will be useful in enhancing the money transfer and
tracking process of businesses and customers. This idea is unique and can be beneficial in order
to reduce the transaction costs and facilitate efficient transfers and provide a better experience to
the customers. It can seek attention of the investors due to advanced technology which is used in
the digital currency as it ensures safety and security of transactions.
The current report will explain the key concepts of entrepreneurship, innovation and enterprise,
the idea and potential gaps of the business, behaviours, competencies and characteristics of
entrepreneurs, various external and internal factors affecting creation and development, process
of business start-up from conception to execution and factors that have an impact on the creation.
MAIN BODY
Key concepts about entrepreneurship, enterprise and innovation and introducing some theory
fitting for the idea
Entrepreneurship is the extraction or creation of economic value. The process of setting up a
business is called entrepreneurship which helps in addressing that the new business idea helps in
knowing and creating value for the business idea which has been used in appropriate manner.
Innovation is the practical implementation of the ideas which helps in introducing the new
product or service in the market at large scale (Wu, Wu and Sharpe, 2020). There has been
improvement in the products and service which helps improving the services of how effectively
the innovation has been done.
Enterprise is the business or the company which helps in addressing the aspects of how
the business seeks growth and development in and effective manner. The theory which has been
used within the entrepreneurship is described as –
Theory of Social Behaviour – This theory helps in explaining the aspect that individual
performs different activities which are accepted by the society while some are accepted and some
are not which addresses that how effectively and in appropriate manner the rewards are provided
to employees in the organization (Baert, Morgan and Ushiyama, 2022). There has been
consistency between the structures, objectives and actual incidence of entrepreneurs. There are
particular circumstances that are normally not available in the environment.