Entrepreneurship, Innovation, and Creativity (Essay Sample)
Organizations often try to develop an entrepreneurial culture through a strong orientation toward entrepreneurship.
A. Prepare a brief summary, listing and defining at least four reasons why entrepreneurial organizations seek opportunities for innovation.
B. Acknowledge sources, using APA-formatted in-text citations and references, for content that is quoted, paraphrased, or summarized.
BUSINESS AND MANAGEMENT
Over the past decades, entrepreneurship has become a vital part in the economic development across different regions and nations. Many countries, not only in the USA, but across the world have seen a rise in small, micro and medium enterprises which have largely been attributed to the fast technological changes as well as the need to create and become more innovative.
Reasons why entrepreneurial organizations seek opportunities for innovation
Entrepreneurship has been greatly linked to innovation and creativity. Different authors have defined entrepreneurship in terms of innovation viewing it as a form of innovation. (Baumol, 1993) defines entrepreneurship as the process where innovation is put to action by transforming an idea into a workable activity.” Creativity, on the other hand is the intellectual capability to come up with new ideas while innovation involves the actions, processes and steps taken to execute the new ideas.
Entrepreneurial Innovation could take place through innovation in products/services, processes or management
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