Innovation and Entrepreneurship: An Introductory Essay

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Innovation and entrepreneurship

Introduction
Innovation and invention are two different terms.
Entrepreneurship is more than carrying the business process.
Action oriented is the top most quality of an entrepreneur.
Time and resource management succor in process of entrepreneurship and innovation.

Entrepreneurship
Way to identifies opportunities when other sees distractions.
Process where an individual is having the solution oriented mind set.
Process of positive and innovative thinking.
Process of challenging the unknown and creates the better future.

Entrepreneurship – Characteristics
Time management
Resource management
Innovative thinker
Willingness' to take risk

Classification in entrepreneurship
Private
Public
Opportunity seekers
Incubative entrepreneurship

What is mean by innovation?
Brand new + great idea
Successful step
Profit making idea
Ultimate solution for the problems

Types of innovation
I NCR EM E NTAL I N NOVATI ON
VS
DI S R UP T IV E I NNO VATI O N

Types of innovation
ARC HI T EC T UR AL I NNO VATI O N
VS
COM P ON EN T I N NOVAT I ON

Quotes on entrepreneurship
“Where others see challenges, an entrepreneur see opportunities.”
“Everyone can describe about risk but an entrepreneur can describes more about rewards.”
“Successful entrepreneur knows how to use failures as the milestone towards success.”

Conclusion
Entrepreneurship requires creativity in their model.
It is way different from just carrying business models.
Innovation is not only means findings something different but adding more benefits in existing
technology is also a innovative idea.

References
Jacobovitz, S. (2015). Innovation: Building the Best Possible Tools for
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396-397.
Jacobovitz, S. (2015). Innovation. Journal of the American College of
Cardiology, 65(4), 396-397.
Warren Lathe. (2016). Innovation inspiration. Science, 351(6275), 821.
Anonymous. (2017). ENTREPRENEURSHIP. Review - Institute of Public
Affairs, 69(4), 9.
Hvide, & Panos. (2014). Risk tolerance and entrepreneurship. Journal of
Financial Economics, 111(1), 200-223.
Chang, S., & Zhang, X. (2015). Mating competition and entrepreneurship.
Journal of Economic Behavior & Organization, 116, 292.