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Entrepreneurship And Innovation

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Najmus-Saquib Khan
Najmus-Saquib Khan

The document discusses innovation and its importance for entrepreneurship. It defines innovation as creating new combinations of nature, labor, and capital to exploit opportunities through new or improved products, services, processes, techniques, or ideas. Successful innovation requires purposefully searching for sources of change and applying principles to develop, produce, and promote innovations to customers. Entrepreneurs can innovate in many ways within an organization or through new ventures.

BusinessEducation
1 of 20
ENTREPRENEURSHIP AND INNOVATION: 3.
[object Object],[object Object]
3.1 THE INNOVATION CONCEPT: (Continued) ,[object Object]
NEW PRODUCTS: ,[object Object]
NEW PRODUCTS: (Continued) ,[object Object]
NEW SERVICES: ,[object Object],[object Object]
NEW PRODUCTION TECHNIQUES: ,[object Object],[object Object]
NEW MEANS OF INFORMING THE CUSTOMER ABOUT THE PRODUCT: ,[object Object]
MULTIPLE INNOVATION: ,[object Object]
IMPORTANCE OF INNOVATION FOR ENTREPRENEURSHIP: 3.2
ORGANIZATION FOR INNOVATION: CORPORATE ENTREPRENEURSHIP ,[object Object]
[object Object],[object Object],[object Object],ORGANIZATION FOR INNOVATION: CORPORATE ENTREPRENEURSHIP (Continued)
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],ORGANIZATION FOR INNOVATION: CORPORATE ENTREPRENEURSHIP (Continued)
3.3 SOURCES OF INNOVATION FOR OPPORTUNITIES
SOURCES OF INNOVATION ,[object Object]
The first four exist within the industry itself, and the last three in the social environment. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Factors affecting a new venture’s success ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
3.4 THE INNOVATION PROCESS
Invention versus Innovation: Analytical planning Organizing resources Implementation Commercial application To identify: Product design market strategy financial need To obtain: Materials technology human resources capital To accomplish: Organization product design manufacturing services To provide: Value to costumers rewards for employees revenues foe investors satisfaction for founders ,[object Object]
[object Object]

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