Entrepreneurship and Innovation

Entrepreneurship and innovationEntrepreneurship and innovation

Entrepreneurship and innovationEntrepreneurship and innovation
 Innovation is a specific tool for the entrepreneurs, Innovation includes the new ideas,
new methods, new product, new processes, new market and new business model.
 Entrepreneurship and innovation plays a major role in economic growth.
 The main role of innovation is to develop relevant employability and professional
skill. That type of organizations creates new jobs in economy whereas many large and
established organizations cutting and consolidates jobs

Evaluation of classical and corporate approaches toEvaluation of classical and corporate approaches to
entrepreneurshipentrepreneurship
 Entrepreneurial main function is to discovery, assessment and exploitation of opportunities
in form of new product, services, production processes, new strategies and new market for
products and use of inputs that didn't previously used.
 Justpark company are based on the classical entrepreneurship strategy where company
develop new technology in order to solve the parking problems.

Evaluation of classical and corporate approaches toEvaluation of classical and corporate approaches to
entrepreneurshipentrepreneurship
There are uncertainty it will be define into three categories;
 Risk which is statistically measurable.
 Ambiguity which is hard to measure statistically.
 True uncertainty which is impossible to estimate or predict statistically.