Innovation and Entrepreneurship: A Comprehensive Overview

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Innovation and
Entrepreneurship

Introduction
• Innovations means new idea or new methods.
• Developing existing idea into new methods is also mark as innovation.
• Innovation is key for the successful business model.
• This helps in providing better solutions.
• Entrepreneurship is the activing of developing business.
• Entrepreneurs also called as business men, tycoons and magnates.
• As, entrepreneurship is also associated with taking the financial risk.

Innovation
• Process which includes developing of new ideology or
technique.
• Innovation can be applied in any area of business.
• Innovation is market as trouble shooters when it
succors in solving problems.
• Innovation is linked with creativity, these two are
responsible for quality improvement in the company.

Types of innovation
Administrative
innovation is
the creation of
a new
organization
design which
better supports
the creation,
production and
delivery of
services or
products
ADMINISTATIO
N
Process
innovation
means making
new methods of
selling or
advertising
goods and
services in the
market
PROCESS
Involves
creation of new
goods and
services
TECHNICAL

Why is innovation important?
• Helps in developing new solutions
• Minimises the looses and maximises the profits ratio because of
new innovative way of conducting work.
• Bring new opportunities in the market.
• Enhances the reputation of an organisation as people started
talking about the company who brings innovative ideas

Entrepreneurship
• Process of running and developing the business.
• It is the important engine responsible for economic growth.
• People who create business are known as entrepreneurs.
• Starting a new business is the example of entrepreneurship.
• Monetary risk tasking is the essential quality of
Entrepreneurship

Characteristics of
Entrepreneurship.
Developi
ng values
Risk
taking
capacity
Strong
networki
ng
Complete
knowledg
e in the
required
field

Types of entrepreneurship
Scalable
startup
entrepreneu
rship
Social
entrepreneu
rship
Large
company
entrepreneu
rship

Linked among innovation and
entrepreneurship
• Innovative ideas in entrepreneurship helps
in advancement of the sales.
• Innovations helps in solving the business
problems also.
• For the business growth it is essential for
entrepreneur to develop innovative ideas.

Conclusion
• Innovation is the key to success in the business.
• Risk taking and optimum utilisation are the
essential quality of an entrepreneur.
• Innovation helps in providing ultimate solution for
the problems.
• People are always ready for welcoming innovations

References
• Masulis, R.W. and Simsir, S.A., 2018. Deal initiation in mergers and acquisitions. Journal of Financial and Quantitative Analysis,
53(6), pp.2389-2430.
• Pelov, S. and Nguyen, H.H., 2018. Distressed Mergers and Acquisitions.
• Cloodt, M., Hagedoorn, J. and Van Kranenburg, H., 2006. Mergers and acquisitions: Their effect on the innovative performance of
companies in high-tech industries. Research policy, 35(5), pp.642-654.
• Benitez, J., Ray, G. and Henseler, J., 2018. Impact of information technology infrastructure flexibility on mergers and acquisitions.
MIS Quarterly, 42(1), pp.25-43.
• Fich, E.M., Nguyen, T. and Officer, M., 2018. Large wealth creation in mergers and acquisitions. Financial Management, 47(4),
pp.953-991.
• Masulis, R.W. and Simsir, S.A., 2018. Deal initiation in mergers and acquisitions. Journal of Financial and Quantitative Analysis,
53(6), pp.2389-2430.
• Han, J., Jo, G.S. and Kang, J., 2018. Is high-quality knowledge always beneficial? Knowledge overlap and innovation
performance in technological mergers and acquisitions. Journal of Management & Organization, 24(2), pp.258-278.