Report On Entrepreneurship - Importance Of Innovation & Creativity
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Added on 2020-02-03
Report On Entrepreneurship - Importance Of Innovation & Creativity
Added on 2020-02-03
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ENTREPRENEURSHIP,CREATIVITY ANDMARKETING PLANNING
Table of ContentsINTRODUCTION...........................................................................................................................1PART 2............................................................................................................................................1CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................1
INTRODUCTIONWith the help of globalization, it is the greatest opportunity for the latest technologytowards new techniques of the business (Im, Montoya & Workman, (2013)). It assists for adoptnew product and service within the market. Further, innovation take place for dealing withdifferent people and serving products to them. In the present report includes understanding ofinnovation to create entrepreneurship within the market. PART 2Importance of innovation and creativity in entrepreneurial SME termsAccording to (Kell, Benbow & Steiger, (2013)), innovation can be determines astechnical, design, manufacturing and commercial activities which involves marketing of newproducts. It can be stated that creating something new ion existing products and servicesdetermines to develop market ad effective results. On the other hand, creativity is considers asprocess which develop ideas and imagination to develop effective results and maintain effectivefunctions at workplace. Creativity and innovation possess wide gap to develop market andprofitability for ascertain results and generate high revenue (Kell, Benbow & Steiger, (2013).Creating new ideas and things can be developed to maintain business results and developingprofitability. Further, creativity also take place for vast imagination of things with new ideas andmethods for development of innovation. It can be analysis for determining impact from newproducts within the market. Creativity is not take place with money term but innovation createmore cost for developing results at workplace. To maintain innovation, creativity is required sothat the business can achieve their goals and target for new products and services. Hence, itdevelops effective results within the market.As per the view of (Govindarajan & Trimble, (2013)), in modern era globalization anddevelopment programs assist to produce goods and services within domestic country and anothernation as well. Thus, international market gives opportunities to increase economy of countrywith developing profitability within the enterprise. In respect to this, impact of market can beassess easily with developing marketing plan (Govindarajan & Trimble, (2013). However,(Barrett, Davidson & Vargo, (2015)), stated that within the time frame creativity take place fordeveloping effective results and manage profitability easily. Hence, innovation can be take placefor major effective results and outcomes within the environment. In respect to this, new features1
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