Innovation Management

Running head: INNOVATION MANAGEMENT
INNOVATION MANAGEMENT
Name of the student:
Name of the University:
Author's Note:

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Section A:
Answer to question 1.
I agree with the fact that an entrepreneur should never afraid of taking risk. The
successful entrepreneurs are the most innovative one and they do not care about the failure or
success but always strive to achieve their destinations.
Answer to question 2.
I did not start my career as an entrepreneur but had a working experience in the world’s
business companies like Apple Inc, IBM Ansett and KPMG in corporate marketing departments.
In 2011, I started my own business with only 46 workers.
Answer to question 3.
My study with marketing management helped me immensely to build this company. In
addition to this my vision and thinking out of the box process had supported me to leave the
global companies and risk my saving to start a new business.
Answer to question 4
I am motivated with the word success but this does not only mean how profitable the
business is growing. To me the journey to success and pursuing what one wants is the thought
that motivated me. No business is set or ever forget but what the entrepreneurs learn from the
failure is their road to success.
Answer to question 5.

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To state the naturel strength the entrepreneur, I will refer to my willingness to bring
changes in the thought process regarding gift retailing. I wanted to do something that nobody
ever thought of or tried to start. I had been very inquisitive about everything from my very
childhood which had helped me to innovate this business and give this business a shape of global
face. My simplicity of thought and ability to align things so that the vision remains clear to both
myself as well as my followers. It is my characteristics to retain people into my plan and serve
them honestly. To refer to my strengths, the risk-taking mentality is always present in me as an
entrepreneur which guided me to listen to all and respect all the new ideas. I then analyse those
as if they are my north stars and steer my business to the new ways. The entrepreneurs who do
not have the risk-taking mentality, can never excel in life as half of the business remain unknown
to them.
Answer to question 6.
I have learnt a lot of qualities of leadership from different leaders. First of all, I shall refer
to my introvert nature of the childhood. I had gradually learnt to open up as well as express my
thought before others. Now I am a blogger and my thoughts are followed by huge number of
people around the world. To be a good entrepreneur, I built a network of such relationship that
can support me. I started to hire the most fitted and ambitious people in my organization so that I
can utilize their zeal to improve the business. I believe in teamwork hence my organization
provides all types of facilities to entertain the diversity in the teams so that the current of positive
ideas can flow always in the organization.
Answer to question 7.

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In spite of being interested in art, she had taken commerce according to the suggestion of
my mother. It was my mother whom I see my role model as she had a great influence on me. In
my childhood I used to see my mother working with computers and realized her hard works both
in her workplace as well as in household. My mother taught me the importance of working and
often kept me busy with casual works for this I used to get extra pocket money as reward. This is
how I started to consider work to be my motto of life based on which I will be developing
myself. Beside my mother I follow many global leaders who have shared their knowledge in the
business world and solved issues of human kind through their innovative ideas.
I am aware of the popularity of the programs like Shark tank and supports the idea of
investing in the businesses of the moist innovative entrepreneurs around the world. I take this
program as both information and inspiration.
Answer to question 8.
I advise the innovators to have faith on them and grab all the chances that life gives so
that they do not repent for a good chance to miss.
Answer to question 9.
I follow the incremental model for supporting innovation or new ideas.
Answer to question 10.
Yes I have network to consider critical to my entrepreneur success.
Answer to question 11.

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In case any business is not working according to the plan I immediately stop investing on
it and understand this in a very limited span of time. I allow ideas and suggestion from the
departments before making any decisions.
Answer to question 12.
Being a woman I myself faced many issues but finally able to change the perspectives of
the world that women can be successful entrepreneurs too.
Answer to question 13.
The world needs more ideas and innovation instead of focusing on the business
profitability only.
Section B
Reflection:
From the data from the external sources and assessments, the importance of innovation
capabilities has been clearly understood to me. The innovation process to me is the combination
of individuals, their insights, ideas and their ability to act. Innovation capabilities to me is the
ability to approach new challenges to face in working out any job with an open mind and with
positive and creative attitude (Galor and Michalopoulos 2012). I see innovation capabilities in
me to seek new and unconventional solution to my problems. In such case I think no one can
learn new things and new ways to face the problems. In doing a task I always seek to find the
most appropriate way to complete it efficiently and with reduced time as well as efforts. it is the
process of using my own strength to figuring out that in which aspect I can do better in a less
time. In the context of business also, the customers expect their brands to work faster with less

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motions and offer them the best product or service. In this way the firms achieve customer
satisfactions and add value to their external as well as internal customers.
From my own point of view, instead of approaching one single task with the attitude of
satisfaction and confidence does not give the scope to innovate as these are under our comfort
zone but the true innovator approaches every single task with this similar attitude as they have
the confidence that they will apply their creativity and innovation to think out of the box and
achieve the desired result effectively (Kirzner 2015). From the past experience I have realized
that innovation is the method of thinking differently to an ordinary job then taking actions to
accomplish them better than others. As the studies of innovation have pointed out that there are
three capabilities of innovation which are dependent upon one another. These three capabilities
of innovation are creative abrasion, creative agility and creative resolutions. Creative abrasion
refers to the ability to generate different ideas and thoughts through debate and discourse (Bridge
and O'Neill 2012). Creative agility is the ability to experiment and tests through quicker
reflection, pursuit and adjustment. Finally, the creative resolution is the ability to make the
integrative decides which combine the opposing ideas. In such case I think no one can learn new
things and new ways to face the problems. In doing a task I always seek to find the most
appropriate way to complete it efficiently and with reduced time as well as efforts. it is the
process of using my own strength to figuring out that in which aspect I can do better in a less
time.
My innovation capabilities are purely based on the cognitive skills which helps me to
think creatively and critically and the behavioral skills helps me to solve problems and to
manage risks. Innovation capabilities in me mainly focuses on the changing the way of doing a
critical task in as easy and acceptable manner so that the task is completed more efficiently than