Innovation and Entrepreneurship Essay

This essay explores innovation and entrepreneurship in the context of a bakery business. It examines the application of innovation principles for business success, focusing on open innovation strategies to generate new product ideas and improve customer satisfaction. The essay also discusses the challenges of balancing sustaining and disruptive innovation, considering factors like consumer preferences, cost, and competition. It emphasizes the importance of collaboration, risk management, and a supportive organizational culture to foster innovation and achieve sustainable growth. The essay concludes by highlighting the crucial role of entrepreneurs in identifying and exploiting business opportunities for economic success.

Running head: INNOVATION AND ENTREPRENUERSHIP
Innovation and Entrepreneurship
Name of the Student
Name of the University
Author Note

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Introduction
Innovation is referred to as the application that provides for better solutions for meeting
of the new requirements, unstated needs and the existing needs. This requirement is achieved by
the use of efficient products and services that are available in the market. Innovation helps to
develop the business capability of the business organization. Entrepreneurship refers to the
process of the launch, designing and the running of a new business opportunity. It is called as the
willingness to expand, systematize and administer the business and the risks that it will be facing
(Aaltonen & Hytti, 2014). These are the new methods of livelihood of a business organization.
The policy makers in the government in all the nations of the world discuss about the capacity of
innovation for encouraging the implementation of the resources that will provide support to the
central industries. This bakery Company focuses n the innovation to provide better products
related to the health, pleasure and convenience (Crumpton, 2012).
Discussion
Evaluation of the practice and its impact
The entrepreneurs use the innovation as a tool for exploiting the changes as the
opportunity for the business that has different services. The entrepreneurs have to look that the
retail bakery is providing the variety of the baked goods to the customers. The entrepreneurs
have to have the knowledge of the application of the principles for the success of these
innovations (Dimitrova, 2013).
This business opportunity provides the chance to perform different with a better
management of time. The products available are made up of the physical and mental labor,

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capital invested and the raw materials. The innovation combines the use of these notions. The
entrepreneurs are the main innovators who create the products by combining all the factors and
present them at the target market of the organization (Drucker, 2014).. There are three segments
to be considered in the bakery organization that is cake, bread and the related products, frozen
products of the bakery, cookies and crackers. The technical concept helps to asses and describes
the appropriate factor. There is the involvement of getting the products to the market and making
them available to the consumers. The innovation is the motivating factor to shape the
competition and survival of the company n the market. This appropriate factor is the main
business for this bakery company, which includes flexibility, regeneration and revolution. By the
notion of flexibility, the bakery provides new products, which will help it to grow. The new
innovations will help the bakery outline a direct association between the unbalanced diets and the
increase in the issue that are related to health (McLuskie & McLuskie, 2017). There is the
increase in the investment for the research of the products with ingredients that have value and
promote health and wellness. The technique of innovation allows these entrepreneurs not to
confine themselves to a single innovation but the company can experience the achievement from
a mixture of innovations.
Open innovation
By the application of the Open innovation, the bakery can generate their own inspirations
to develop and provide the products manufactured to the target market. With the help of the
advanced model of the innovation, the bakery can commercialize the ideas beyond the internal
business to capitulate the value for the bakery (Mohnen & Hall 2013). The periphery between the
bakery and the entrepreneurship firm has to be transparent to enable the innovation to transfer
from one part to another. The entrepreneurs have to sell the bakery products at prices that are

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affordable to the consumers. The consumers will have an increased interest in the products of the
bakery that will promote and maintain energy and make the consumers feel full after consuming
the products (Onetti et al., 2012). If there is also availability of the products that are gluten and
allergen free, the bakery will not face a challenge for the ingredient and the production side. The
marketers and the entrepreneurs should offer the trends that will apply to the convenience
products in the near future. The replacement of the gluten and allergen free products in the
bakery must also provide a variety of products. The bakery can ask the chefs to recommend
alternative flours for the development of the gluten free products by the reformulation of the
protein content from the original formulation. There can be use of the sensory analysis as a tool
for the development of the new products. The factors that will determine the success of the new
products will be available from the sensory properties of the food from the consumers by the
taste, aroma, texture and flavor of the bakery products (Palmer, Wright & Powers, 2015).
The customer input from the open innovation is the ideas about the development stages of
the innovation of the availability of the new products with improved texture and taste. This
innovation can bring the desired changes to the implementation of the same thing. The bakery
can get hold of a better appreciative of the prerequisites and opinions by the process of the open
innovation. The maintenance of the better public relations will enable the company to garner
profit. The customers and clients of the bakery have to feel satisfied and happy. This provides for
an idea that the bakery company have trust and respect for its customers (Chesbrough, 2012).
The bakery also respects the reviews and feedbacks from its clients and customers. If the chefs
are appreciated, they will invest more ideas and enhance productivity by baking better variety of
the products.

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Solving Problem
The process of innovation allows the developers of the bakery to expand by efficient
ways through collaboration to solve the problems that will generate. The consumers are
concerned about e intake of calories. Hence, there should be the development of the sugar free
products, which will contribute to the low calorie element to convince the consumers to add the
choice for the desserts. This developing of the range of new products will be a challenge as there
has to be the fulfillment of the expectancy of the consumer. The bakery is also influenced by the
increase in the demands of the cuisine restaurants (West et al., 2014). There can be usage of the
different artisan methods for kneading and rounding of the products when they are being
manufactured. The innovative technologies for the traditional baked products allow the
modification of the concept of the customer about the traditional products. The largest suppliers
will allow the essential submission of these new ideas. The developers of the bakery have to
utilize these new ideas to meet the desired production.
Sustaining verses Disruptive Innovation
The target of the innovation is for the high high-end consumers with accomplishment of
the better presentation that can bring improvement to the bakery (Tidd and Bessant, 2015). The
bakery can come across better advertising and marketing strategies for the selling of the profit
margins at an increased rate. The incorporation of the disruptive innovation uses better products
that will establish the consumers in the present market. There should be the introduction of
bakery products that are tasty and also at a cheaper price. To make the position of the bakery the
company may choose sustaining innovation method and not the disruptive innovation due to the
high level of competition that will get the company under limelight. For the betterment of the
bakery, there should be the birth of the new business opportunity, which will be through the

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internal innovation, and implementation of the innovative new ideas for the transformation of the
bakery. The larger corporation should encourage the mix of creativity and innovation of the
important ideas (Vivarelli, 2012). The factors that are affecting the success of these new ventures
are the new practices of the business; the entrepreneurs have to get a better understanding of the
sense of urgency, detailed knowledge of the skills and abilities (Scholz, 2015).
The bakery also has to keep in mind the risks involved in the innovation, the methods of
the alternative teamwork, which is not easily managed by the controlling systems of the
formation of the bakery organization. Thus, the particular structure of the bakery and the
efficient management of the culture of the organization turn critical for the creativity of the
enlistment and also bring the scope of innovation for the bakery. The further focus of the bakery
can be on the idea of the generation, providing a continuous support to the trend of learning and
management of risk taking (Trimi & Berbegal-Mirabent 2012).
Conclusion
Thereby this essay provides a discussion on the innovation and entrepreneurship
techniques that can be used for the growth of the business. To get the innovation be perfect of the
bakery the bakery should focus on to providing support to the changes and the development of
handling the conflict that arises. The entrepreneurs help to identify the opportunities for the
business and derive economic success of the bakery. These opportunities when are identified can
be exploited to determine confidence and speed of the bakery and its employees. The innovation
in the business is termed to be the development process and requires for the critical working
behind the products and innovation of the plan. The entrepreneur is involved in the process of the

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manufacture of the bakery products that involves the obtaining of the raw materials and the
employee related operations for the bakery.

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References
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Crumpton, M. A. (2012). Innovation and entrepreneurship. The Bottom Line, 25(3), 98-101.
Dimitrova, A. (2013) INNOVATION AND ENTREPRENEURSHIP.
Drucker, P. (2014). Innovation and entrepreneurship. Routledge.
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