Essay On The Difference Between Entrepreneurship And Innovation

Introduction

The aim of this assessment is to focus on the difference and similarities between Entrepreneurship and innovation. In the past decade, an increasingly dynamic, complex and unexpected business climate has emerged. Fierce competition in the global market forces organizations to use their competitiveness and capabilities to differentiate themselves in the market and improve their competitive advantage and performance. Some organizations create a sustainable competitive advantage (CA) through a continuous process of technological innovation and the ability to leverage other capabilities of the company.

This assessment understands how small businesses (SMEs) perform and are more important to researchers than the ones that bring better performance to their competitors. Although SMEs are still largely ignored, by understanding how the key capabilities such as entrepreneurship and innovation affect SME performance is very limited. Entrepreneurship and innovation are the company 's ability to pursue excellence. It is ironic how entrepreneurship

Based on the research of (Schumpeter & Backhaus 2003), the research proposed five types of entrepreneurial behavior: the introduction of new products, the introduction of new production methods, the development of new markets, the development of new resources and industry organizations. An entrepreneurship strategy that can be identified on startups. Venture to create business opportunities for adventure. Entrepreneurship is a good idea to innovate and understand business opportunities and to provide value for innovation. Entrepreneurs are always looking for innovative resources that will not limit themselves to some kind of innovation. An entrepreneur starts a business at a particular opportunity and transforms it into revenue. They need skills such as planning, decision making, management, mentoring, motivation, and