Reflection on 100 Years of Research into Innovation and Entrepreneurship

REFLECTION ON 100
YEARS OF RESEARCH
INTO INNOVATION AND
ENTREPRENEURSHIP

Table of Contents
INTRODUCTION...........................................................................................................................3
LITRRATURE REVIEW................................................................................................................3
Introduction of organization............................................................................................................4
Changes with respect to digital technology.....................................................................................5
Recommendations............................................................................................................................6
REFERENCES................................................................................................................................1

INTRODUCTION
Innovation can be defined as search for new technology which is based on new knowledge
(Lopez-Vega, Tell, and Vanhaverbeke, 2016). Innovation can also be defined as something new
or the practice that lead to the development of something new idea or project. Innovation process
can be termed as a process which start with search that continue with strategic selection (Lopez-
Vega, Tell and Vanhaverbeke, 2016). The later step is agile implementation and end with
capturing of value (Rigby, Elk, and Berez, 2020). This report will discuss the concept of
innovation along with a literature on relevant theme in relation with innovation aspects which
will be linked with MASTERCARD. The concept of digital transformation and recommendation
is also included in report.
LITRRATURE REVIEW
Agile implementation
As per the views of Hogan and Coote, (2014) innovation can be defined as a process that
will lead to the development of something new which may a product or the process. This is an
important concept that will lead to raise efficiency of the existing process. innovation can also be
defined as a key with respect to the success of organizational survival that lead to assist it in
terms of attainment of success and growth. In accordance with the Brown, (2020) view agile
implementation can be termed as an ongoing process under which the changes can be adopted
with a period of time. Agile can also be defined as interactive and incremental approach which is
performed in highly collaborative and self-organised manner that will lead to the production of
high quality of output with a consideration to the cost effective and timely manner that will also
meet the need of all the stakeholders.
McGrath, (2012) also elucidates that the element of agility that is focused during its
journey is related with the areas of technology under which creation of flexible system and
rethinking towards the process of delivering fast services are concerned. In the same way the
concept of process i.e. placing of delivery of agile with a context of lean principle (McGrath, and
McManus, 2020). This may also include encouragement to people who are thinking to reinforce
agile behaviour along with moving towards the empowering of people towards the
implementation of agile.