Importance of Innovation and Entrepreneurship in Business

ESSAY

TABLE OF CONTENT
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Heading 1.....................................................................................................................................3
Heading 2.....................................................................................................................................3
Heading 3.....................................................................................................................................3
CONCLUSION ...............................................................................................................................3
REFERENCES................................................................................................................................4

TASK
1. “A pile of rocks ceases to be a rock pile when somebody contemplates it with the idea of a
cathedral in mind.” —Antoine de Saint-Exupéry.
The above statement says that When any organization base their idea on a solid
foundation and develop it accordingly, innovation follows. In this business environment people
who considered creative and innovative thinkers stretch their imagination, ideas, critical thinking
skills and creativity. In this world where everything is growing through technology and
innovation, this type of people are rethinking practices to find new ways which is beneficial to
solve things on continuous basis. Organization are focusing on developing new ideas in their
mind so that they can serve in a better way. For example- companies are using new training
methods and finding out new ways to communicate with each other to enhance working
(Malloch, and Porter-O’Grady, 2017).
2. “If you have always done it that way, it is probably wrong.” —Charles Kettering
The above statement says that people nowadays tend to focus on things they already
know, they fail to take into consideration what they don't know which is probably wrong and
create issues. So, it is necessary for organization to encourage more efforts in solving the
challenges. People need to concentrate on creativity and must create connections between
visions, ideas challenges. Therefore, one should concentrate on things they don't know to making
it happen (Mounir Abou-Assaad and Steven Holmes, 2020).
3. “The creation of something new is not accomplished by the intellect, but by the play
instinct arising from inner necessity. The creative mind plays with the object it loves.” —
Carl Jung
The above statement by carl Jung says that it is very important to be creative because the
creative mind plays with its object it loves, that is opens it up to different possibilities. Play is
both being open to the possibility of different outcomes and investment in an outcome. It is clear
that there is probability at work and element of game theory. So, one should make investment
and commitment before the result can be proven. Also, an element of faith before the fact should
be taken into consideration. The reason behind that is this act of faith in an environment that is