Analyzing Innovation and Entrepreneurship Strategies

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INNOVATION AND
ENTREPRENEURSHIP

Table of Contents
• Introduction
• What is Innovation
• Significance of Innovation
• Entrepreneurship
• Innovation and Entrepreneurship
• Current Event
• Linkage of internal and external environment
• Innovation and Entrepreneurship causing problems for
organisations
• Question 1
• Question 2
• Conclusion

Introduction
• This presentation will discuss how the aspects
regarding innovation and entrepreneurship affect
organisations.
• Current news will be seen in respect with innovation
and entrepreneurship to get a better understanding of
the topic.

What is Innovation?
• Recognize unfulfilled needs of
the customers(Demaria, 2013).
• New idea for a product or
service.
• Solutions to the problems that
are need new ways to be
solved (Kayser et. al. 2016).

Significance of Innovation

Entrepreneurship
• Is an process in which a new business is
launched by an individual
• Entrepreneurship allows an individual to
make their dreams come into reality
(Conway, 2013).
• Entrepreneur's are those people who start a
business on a small scale and then take it to
bigger measures (Crumpton, 2012).

Innovation and
Entrepreneurship
• Using innovation increases the
performance of new businesses
(Chaston & Scott, 2012).
• Innovation keeps an balance between
all of the operational factors for an
entrepreneur (Jarrar & Smith, 2014).
• Innovation allows entrepreneurs to
grow and develop quickly.

Continued…
• Entrepreneurs can pitch their ideas by
using innovation as their main key aspect.
• Through innovation improved business
models are created and also help
Entrepreneurs create their vision (Autio
et. al. 2014).

Current Event
• Rebecca Jeffered explained in an interview
about her journey in being a entrepreneur.
• The innovative product that was created
by her was Ultra Violette (Smart Company,
2019).
• Rebbaca had experience in the corporate
field before becoming an entrepreneur.

External and Internal Environment Linkage.
Inventory and
Number of
Customers
Staff and
Number of
Orders
Mass
Production
and Shortage
of Resources
Website and
Feedback

Entrepreneurship and Innovation causing
problems for organisations.
• Too many entrepreneurship start-ups
cause competition.
• New Business can steal the customer base
of the organisation
• New and innovative products may be too
expensive to afford (Becker et. al. 2017).
• Failure of innovative idea causing loss for
business.

Does Innovation effect
Entrepreneurship?
• New business stand out from the crowd.
• Makes entrepreneurship more stable and
helps solve problems (Vargas, 2018).
• Gives Entrepreneurs a start.
• Makes the business run effectively
(Turner, et. al. 2015).