Sign In
Not register? Register Now!
You are here: HomeEssayCreative Writing
3 pages/≈825 words
4 Sources
Creative Writing
English (U.S.)
MS Word
Total cost:
$ 10.8

Companies and Society Need Innovation (Essay Sample)


The essay was to answer questions on innovation, and the difference between innovation and invention. Why is innovation important to society? How does creativity connect to entrepreneurship and innovation? (IT WAS ESSENTIAL FOR THE PAPER TO HAVE CITATIONS THAT PROVOKED THEIR LEARNING). ALSO PROVIDE TWO EXAMPLES OF HOW INNOVATION IS ESSENTIAL TO SOCIETY, COMPANIES, OR ORGANIZATIONS.


Companies and Society need Innovation
What did you learn about innovation that you did not know? (Cite references that provoked your learning)
Something important to understand that it is hard to know is that companies can have a significant investment of money and time management. However, innovation is still a devastating pursuit for many organizations. Innovation initiatives, in most cases, fail, and prosperous innovators have a challenging time maintaining their performance (Pisano, 2015). The primary reason it is difficult to sustain the capacity for innovation is “a failure to execute.” You Need an Innovation Strategy by Gary Pisano is something that has provoked my learning. According to Pisano, the hardship with innovation advancement efforts is caused by a lack of innovation strategy.
How is innovation different from invention?
There is a big difference between invention and innovation. Many individuals use these two terms interchangeably, which is incorrect, and one can misunderstand information during a conversation. The invention is concerned with building something original and new. Conversely, innovation involves changing the novelty into a commercial product. All social and economic development rely on new ideologies which contest the inertia and introspection of the current conditions with an opportunity for development and change (Schumpeter, n.d). Innovation understanding what will happen suppose the company introduces new thinking successfully and values. Innovation requires deliberate preparations, goals, and planned advantages to realize and implement new ideas effectively.
How does creativity connect to entrepreneurship and innovation? (Cite references that provoked your learning)
According to Drucker, an innovative business will arise from strategically analyzing the seven significant areas of opportunity. Some lie within the company, while others are in broader and social demographic trends. Astute leaders willing to venture into entrepreneurship retain a clear focus on the seven opportunities. After identification of an opportunity, there is a need to have an excellent imagination to make an affirmed decision. Peter Drucker, who wrote the discipline of innovation, has massively provoked my learning and understanding. Managers must have a systematic practice regarding innovation (Drucker, 2002). Innovation is a unique function of entrepreneurship, whether one is venturing into a business or the business existing. Creativity, therefore, connects to entrepreneurship and innovation in that it is a way that an entrepreneur builds new resources for wealth production or endows the current resources with advanced potential for developing wealth.

Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:

Other Topics:

  • Junk and Fast Foods should come with Labels
    Description: According to Xazela & Chinyamuridni (2019), Fast food and junk food are ubiquitous in modern society. According to the Centers for Disease Control and Prevention, over one-third of all food eaten in the United States is fast food. It is also a major contributor to obesity, which is connected to the grown...
    3 pages/≈825 words| 4 Sources | APA | Creative Writing | Essay |
  • The Lifelong Benefits of Catholic Education
    Description: Catholicism has defined my life since childhood. Catholic education implies the following to me apart from knowledge acquisition. First, it has given me an incarnational world perception that recognizes that God exists and acts in our lives. I acknowledge that there are no coincidences in life. ...
    2 pages/≈550 words| 2 Sources | APA | Creative Writing | Essay |
  • Plagiarism Penalties if a Student is Caught Cheating
    Description: Plagiarism is becoming an increasingly severe problem in educational institutions. Plagiarism is essentially a type of academic dishonesty that involves the practice of presenting the ideas or words of other scholars as one's own without proper attribution. One of the primary motivators for students to...
    2 pages/≈550 words| 3 Sources | APA | Creative Writing | Essay |
Need a Custom Essay Written?
First time 15% Discount!