Innovation Entrepreneurship and the Market

Innovation
Entrepreneurship and
the Market

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Entrepreneurship is all about opportunity recognition and exploitation.....................................3
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Innovation is the development of some new idea and thought into reality which is
different from the others and also symbolising uniqueness. But the entrepreneurs are the one who
always tries to manage the things including the innovation. Innovation and entrepreneurs are
related with one another and every entrepreneur wants to make the innovation so that the
business achieves success in great way (Milosevic, 2018). It is a known fact that entrepreneurs
are the one who have the ability something which is different from the other that is why they
start the business with some new and unique idea. Innovation requires the capability of the
individual to make something which is praised in the market and this can be done by the
entrepreneurs. In this report essay has been covered which is about “Innovation entrepreneurship
and the market”.
MAIN BODY
Entrepreneurship is about opportunity recognition and exploitation. Evaluate how innovation
needs entrepreneurship to flourish and enter markets. Explain how environmental and
contextual factors promote or constrain entrepreneurial practice with reference to
appropriate examples
Entrepreneurs are the one who have the capability to take all the challenges and risks
which are present in establishing any business. While innovation means to develop those things
which are new in the environment and is comprised of unique and new features. The
entrepreneurs have the capability to identify the opportunity which is present in the market so
that the new business can be established (Pashchenko, 2019). But for this they conduct a proper
research so that no mistakes can be made in the future term. In the beginning of the time
entrepreneurs have to conduct the research so that they could be able to launch and deliver the
new product and they conduct the research so that they can identify that whether the product will
suit the market demands or not. There are many entrepreneurs who have developed the business
with the great method and unique features in the products which are liked by the people in the
market. The entrepreneurs have to face two things which includes the risk and the opportunities
and from the opportunities they have to identify the best option which will be suitable in the
market and which will also work the best for the business. They conduct the research which is