Innovation and Entrepreneurship: Key Concepts

This assignment delves into the fundamental principles of innovation and entrepreneurship. It examines the interplay between these concepts and their role in driving global competitive advantage. The provided reading list encompasses diverse perspectives on innovation, its drivers, and the entrepreneurial process within both developed and developing economies. Key themes include the importance of creativity, teamwork, and fostering a culture of innovation within organizations.

INNOVATION AND
ENTREPRENEURSHIP IN
HEALTHCARE

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
Evaluating characteristics of Sproxil as an innovation..........................................................1
Task 2 ..............................................................................................................................................4
Discussion of entrepreneurship in relation to delivering Sproxil to a defined UK market.. .4
Task 3 ............................................................................................................................................6
Describing government policy initiatives in delivering Sproxil in UK market...................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Health care in UK has their own policies with regard to public awareness to it. . It
provide facilities in context of nursing facility, medical treatments and avoiding illegal
medications. It relates to maintain proper health of an individual. Different innovations in
managing proper health is done accordingly. Healthcare helps in treatment of physical and
mental illness. Professionals are assigned with providing healthcare facilities to the patients.
Different countries have their own policies based on health of the society. Similarly, company
named Sproxil also provides healthcare facilities to the society. Almost, 50 innovators in world
improve the standard of health of an individual. Sproxil is a company based on verification of
medicines to be provided to patients. It verifies that medical treatment provided to patients is
relevant to itt.
TASK 1
Evaluating characteristics of Sproxil as an innovation
Sproxil includes health care, skin care and food and beverages facilities. Company's main
characteristic is to verify medical products. Its first service provided was Mobile Authentication
Service. It provides label on all the secured products that helps in making people aware that this
medicine is approved. Its chain emphasis to build trust among the customers. Sproxil grows
interest in customers and also earns kindness in work from employees (Carayannis, Samara and
Bakouros, 2015) It reduces theft and irrelevancy in product. This company uses the mobile
based technology improving health care facilities by avoiding duplicate medicines. The main
characteristic is to earn consumer attention. It involves cost effective programmes. It helps in
engaging customers through different loyalty programmes. Mobile technology is used widely to
solve the issues of large organization and protecting their customers. It is characterised through
working with organization to help technology based issues which improve life standard of a
society.
It provides different medical health centres to avoid illness. Company provides different
services and product along with better solutions which help manufacturers to spread product in
the market (Cunha, Benneworth and Oliveira, 2015). While, company also pays attention in
maintaining health of an individual, it focuses on giving different facility to the patient according
to their requirements. It supports the patient by providing nursing facility and efficient
medicines. Sproxil also emphasize to maintain relation with other industries by proving health
1

care products, food, clothing goods etc. which is already verified by company. Every product
which is verified by the Sproxil is labelled initially. When a product is to be opened, the
customer scratches the label and uses pin code. This shows its verification and quality of the
product. The code is received through message at the time of purchase to buyer.
Sproxil provides verification via mobile app and also on web. Company provides
necessary information about any item (Drucker and et.al., 2014). The solution provided is used
by top ten companies in pharmaceutical sector. It advises owner of irm in building product's
reputation in market. Through this survey, the product is highly sold and also helps in increasing
the profit of firm. Moreover, Sproxil is characterised flexible, and a supplement in solving the
communication process. It focuses on increasing consumer’s loyalty by arranging programmes
and engaging customers in innovative functions. Further, it also takes care in maintaining
continual increase in sales. After completion of Year, management show its work and allows
new entrepreneurs to apply in healthcare sector.
Comparing with other organizations, it helps in selecting the best amongst it to join it.
Sproxil, based on mobile technology, helps in maintaining interest of innovators with their
knowledge, different opportunities, which they need to grow in their work. It helps in performing
every step innovatively and verifying the medicines (Grenelland and et.al., 2014). With message
facility, it helps the patient in buying standard and legal medicines from highly reputed
producers. This company helps in avoiding negative health care facility and reduces illegal
medicines to be provided to the customers. It collects the information for clear understanding of
consumer’s habit of purchasing. As per achievements of company it has realised importance and
demand of mobile tracking technology. This firm operates in different areas like US, India,
Pakistan and many more (McLuskie and et.al., 2017). Sproxil develops more in technology
through global availability of the cell phones including phone number, app, etc. and which does
not require physical availability of the consumer.
Sproxil achieved success in many forms as beauty, health, electrical and food products. It
helps in avoiding dangerous illness of patients. Firm made partnership with manufacturers
directly for security of products. It manages to secure consumers and also increases trust in them.
It suggests the best organization from where products must be purchased which avoids time
wastage and involves in activity of not investing in irrelevant products. Firm is concerned about
customers and looks forward that they do not attract towards wrong information. The customers
2

has to provide feedback back to the brand from where they have purchased product. Due to this,
the brand can get idea in which they need to improve and can deliver better quality of products
(Naranjo-Valencia, Calderón-Hernándezand Sanz-Valle, 2018.). This make a huge increase in
sales and earn more profit. It supplies important information to buyers at the time of buying.
Through this, the market value is increased and can gain more profit in future. It provides
customers the better prospective of product data and gives information about cash of the
products. Its ongoing process includes, support in medical and health care programmes.
From these, one can buy product according to their necessity and should give back
feedback to the brands so that they can provide better delivery of goods and services. The brand
can be pushed ahead by arranging different campaigns and satisfying customer demands. They
can also collect data from the consumers about illegal products and about theft of products. In
addition to these, government also helps in saving time by tracking the illegal activities
performed under different acts. Sproxil firm, with help of their employees can connect to
government with people awareness programmes and educating customers. Educating consumers
is also an important part which helps in avoiding illegal activities. Education enables in form of
taking right actions against removing irrelevant products from the market. Customer oriented
programmes are held in regards to make them aware about selection of the products. This leads
in increase of better utilization of the products and could provide better health to society.
3
Illustration 1: Innovation in Health Care
(Source: Innovation, 2018)

TASK 2
Discussion of entrepreneurship in relation to delivering Sproxil to a defined UK market
Sproxil helps in differentiating the good and bad products which helps different firm in
selling products in UK market. Entrepreneurship is a term used for maintaining relation between
buyer and seller. It helps to differentiate between real and fraud goods. Through cell phones, he
can provide facility to store managers in UK. In UK, services are assigned avoiding danger part
of the product (Samli, 2016)
.. Enterprise is capable of maintaining relation and in giving nursing facilities to the patients.
Entrepreneur is the most important person in case of manpower. He is always responsible in
carrying forward the business. He is also responsible for getting better staff in terms of
increasing efficiency of the firm. Entrepreneur also creates different functions in terms of
business structure and in maintaining efficiency of the products which leads to huge profit. He
achieves the centre status in a market. He serves better in performing all the activities which are
economically related to it. Higher economic status of enterprise, is the result of better
entrepreneur in the firm.
Entrepreneur delivers product in regards of positive attitude and is involved in proper
decision making process. As focused to Sproxil, entrepreneur plays a vital role in increasing its
medical growth and improves living standard of society. Its relevant medicines help in building
best health of an individual. In relation to new person entering in business as an entrepreneur
must always consider customers viewpoint. Firm also avoids differences in major part.
Entrepreneur is the new person entering in market who works hard to bring business at top
position (Zhouand and et.al., 2015.). First, he starts with the backward and small areas and then
come to urban areas. In context to these, entrepreneur also deliver Sproxil products in UK. As
entrepreneurship is increasing day by day as a centre part of the business, it refers to health
facilities to be provided in UK market. It also avails in giving approved medicine and labelled
products in UK.
It’s the bright job of entrepreneur in UK by creating highly essential jobs, improving
living standard, development in skills and regional, and increase in exporting products. There are
different effective products delivered by Sproxil in UK (Wang and Wen, 2018). As an
entrepreneur, one should take care that the product is delivered on time in UK market. In relation
to entrepreneurship, it is responsible for getting more customers and gaining more profit. Sproxil
4

also attains entrepreneur in response to make legal availability of the products in UK.
Entrepreneur must expand the business. Its duty of him to get more cash, high demands from
consumers. Entrepreneur must consume less time in delivering goods and services to the market
of UK. It’s not necessary that entrepreneur has to run everywhere in context of goods delivery.
Rather, he should make a proper chain of management from top to bottom, which leads in
exclusiveness of business and in managing delivery of goods and services (Crumpton, 2012).
Before accepting the order, it is responsibility of entrepreneur to check whether the firm is able
to afford products and services of Sproxil. To deliver products in UK, entrepreneur must see to
company's review. Firm can deliver its goods by sending goods to small stores and then raising
to the large stores of UK.
This company has made UK stores secured in terms of providing sealed and labelled
goods in market. The firm also takes help from UK government in relation to maintain mobile
technology in securing goods in UK. Entrepreneur can deliver Sproxil products by describing its
benefit and by selling it on less cost. This products and services sold includes labour services,
health care products, skincare, food and beverages products and many more. The firm
emphasizes to reduce the illness and creates awareness about health security of society.
Entrepreneur must also get connected to different hospitals also in UK which helps in receiving
more demands from patients (Dees, 2017). The hospitals and medical stores must be connected
by an entrepreneur in relation to improve efficiency of current company. Country is very grateful
in valuing the importance of healthcare company which affects consumer in buying more
products of same firm and in response to this consumer are being protected from dangerous and
fake products.
Firm believes in a positive impact that will decrease bad products from the market.
Sproxil focuses more on connecting in different areas of UK, which will increase company's
profit (Cañeque and Hart, eds., 2017.). They are connected with hospitals, dispensaries, nursing
home, in UK. It provides medicines in case of drug, smoking, mental illness and physically
handicapped it’s a brand, which improves the efficiency of organization. The verification is to be
done in sense to select better product which has its great efficiency. Its duty of entrepreneur to
look forward whether products are available at every stores in the market with proper cost. Its
basic element is in health care facility. Patients must get proper medication. In addition to these,
it also works in context to mobile marketing strategy. Customer gets the PIN through message,
5

which shows the product is highly qualified with verification (Matthews and Brueggemann,
2015). In UK, delivery of goods is performed with less cost by providing essential treatments to
patients. Its impact is to reduce fraud products in market. Patients can be at risk if they use such
irrelevant medicines. As per research, 7, 00,000 people die yearly, because of using fraud
medicines in relation with malaria and TB disease.
TASK 3
Describing government policy initiatives in delivering Sproxil in UK market
In UK government has its own policies in context to health impact. It has promised
policies to reduce smoking, drug addiction, which helps in better living of society. The factors
are performed to bring smoking at end. The study has made in addition to perform policies
internationally. For delivering Sproxil products in UK, it has to adapt the government policies.
The study in relation to data collection for providing quality medicines to patients. In UK,
smoking must be stopped in large area (González-Pernía, Jung and Peña, 2015). Maintaining
public health should always be on the top. Treatments like psychological can also be effective.
The combination of psychological and medical support can increase long term availability in
markets. In terms of cash, it is the largest method of medical treatments. Qualified products to be
sold in market. In addition to this, death rates must be reduced. They collect data in accordance
to medical issues faced by an individual.
The government also sets policies at national and international levels. Government
policies are also in context to drugs addicted people. They frame such policies to save life of an
individual by serving Sproxil medications in the hospital. Trade policies, permission from
government affects business. These policies always guide business in in right path. Policies may
refer to minimizing wages. Moreover, this company is always ready to accept changing laws of
government (Carayannis and Bakouros, 2015). Policies also depend upon political views.
Sproxil products are delivered rapidly and easily as per stable rules of government. This makes
business more friendly and environment free. Increasing tax rates affects entrepreneur who takes
risk in investing in business. They aims at increasing recovery of individual and to remove
unlawful medicines from the market. Government has targeted in terms of partnership for
increasing verified medicines to be used in hospitals and sold on every medical stores.
Government has policy to reduce unlawful and harmful medicines. It also follows in
improving health facility given to an individual. It is liable that government adapt new
6

techniques which brings necessary change in company. Framed policy to track the report of
progress in delivering Sproxil products and services in UK (Gilson, Litchfield, and Gilson,
2015). Such policies which are undertaken makes possible for companies to compete with each
other. Economic changes in policies also plays vital role in affecting business. It affects the cost
of firm. Taxes may include value added, wealth, corporate, income and sales tax. The main
approach is to maintain four main keys in delivering goods in UK such as:
1-Reducing demand: The policy framed takes the action against improvement in demand.
Sproxil goods demand must be increased in accordance with use verify medicines, food
products, skincare products, etc. This emphasizes on building the interests of consumers and
confidence amongst them. The risk towards death must be reduced if Sproxil products are widely
used.
2-Supply limitation: This firm has an advantage of verifying best products which helps in
limiting the supply of bad products. It an intelligent process, undertaken to restrict supply of
fraud products. UK adapts this policies which gives them advantage of changing in fraud
activities to highly qualified services. They daily tackle in this type of situations.
3- Structuring to normal state: Company satisfies people in UK according to policy of
government by providing better health care facilities for recovery of patients. This brings them to
normal state of their health. The ambition is to prevent correct and innovative services to patients
(Cunha, Benneworth, and Oliveira, 2015). They support in wide areas which are essential in
supporting every independent by making them drug free.
4- Comprehensive process: In UK, different actions are taken to sell Sproxil goods and services
on international level. They share their best services to promote the verified products to all the
medical stores and hospitals. To prevent from harm to the society is its main aim.
When people talk in a collective manner, company strategy is to focus more on realistic
products which Sproxil already manages to follow it. It improves society's effort which helps in
reducing fraud medicines (Sutherland, Monllor and Correia 2015). Government factors which
are described in four main forms drive it to follow the legal products. It has claimed that new
technology which has undertaken different methods to face illegal products are not to be sold in
the market. In UK, government has framed new articles and provide information about qualified
products to be sold in market. In addition to this, death rates must be reduced. They collect the
data in accordance to the medical issues faced by an individual.
7

CONCLUSION
In conclusion of this report, it analysis different factors about new innovations in
healthcare and relation of entrepreneur is discussed. Sproxil is mobile firm which verifies real
and fraud products. In regards to this it’s shown about characteristics of product which is sold
internationally. Detail discussion about latest technology is mentioned and how firm delivers it
goods and services by following government policies is shown. Later comes policies which is
framed by institution of government in accordance of selling goods. Model of innovation process
is also specified which helps in knowing its ongoing process. Moreover, when this all steps are
followed of innovation model then it’s easy to increase productivity and in achieving higher
profit.
8

REFERENCES
Books and Journals
Cañeque, F.C. and Hart, S.L. eds., 2017. Base of the Pyramid 3.0: Sustainable development
through innovation and entrepreneurship. Routledge.
Carayannis, E.G., Samara, E.T. and Bakouros, Y.L., 2015. Innovation and entrepreneurship:
theory, policy and practice. Springer.
Crumpton, M.A., 2012. Innovation and entrepreneurship. The Bottom Line, 25(3), pp.98-101.
Cunha, J., Benneworth, P. and Oliveira, P., 2015. Social entrepreneurship and social innovation:
A conceptual distinction. In Handbook of research on global competitive advantage
through innovation and entrepreneurship (pp. 616-639). IGI Global.
Dees, J.G., 2017. 1 The Meaning of Social Entrepreneurship. In Case Studies in Social
Entrepreneurship and Sustainability (pp. 34-42). Routledge.
Drucker, P., 2014. Innovation and entrepreneurship. Routledge.
Gilson, L.L and et.al., 2015. 11 Creativity in Teams: A Key Building Block for Innovation and
Entrepreneurship. The Oxford handbook of creativity, innovation, and entrepreneurship.
pp.177.
González-Pernía, J.L., Jung, A. and Peña, I., 2015. Innovation-driven entrepreneurship in
developing economies. Entrepreneurship & Regional Development, 27(9-10), pp.555-
573.
Grenell, K., 2014. INNOVATION AND ENTREPRENEURSHIP. Routledge
Matthews, C.H. and Brueggemann, R., 2015. Innovation and entrepreneurship: A competency
framework. Routledge.
McLuskie, P., 2017. Innovation and Entrepreneurship.International Journal of Entrepreneurial
Behavior & Research, 23(1), pp.159-162.
Naranjo-Valencia, J.C., Calderón-Hernández, G. and Sanz-Valle, R., 2018. Entrepreneurship and
Innovation: Evidence in Colombian SMEs. In Handbook of Research on
Intrapreneurship and Organizational Sustainability in SMEs (pp. 294-316). IGI Global.
9

Samli, A.C., 2016. Empowering the market economy through innovation and entrepreneurship.
Springer.
Sutherland, L.A., Monllor, N. and Correia, T.P., 2015. EIP-Agri Focus Group. New Entrants into
Farming: Lessons to Foster Innovation and Entrepreneurship. Minipaper: Gender issues
among new entrants, EU. pp.5.
Wang, D. and Wen, X., 2018. Research on the Curriculum of College Students' Innovation and
Entrepreneurship Education based on Large Data Analysis. JOURNAL OF ADVANCED
OXIDATION TECHNOLOGIES, 21(2).
Zhou, J., 2015. The Oxford handbook of creativity, innovation, and entrepreneurship. Oxford
University Press.
Online
Innovation. 2018. [Online]. Available through: <http://www.innovation-portal.info/online-
resources-for-innovation-entrepreneurship/>.
10