Entrepreneurship Innovations

The Entrepreneurship innovations benefits were for the moving individuals across the world and in the slightest degree economic levels (even if massive teams of individuals were unable to reap these benefits). The technologies were various and relied on the timely parallel accomplishments of entrepreneurs, significantly organizational theory, venture capital and theory of business administration, together with the outstanding achievements. For fast the processes of style and implementation, it's needed to own additional money resources which can facilitate to boost human and material resources thus to form potential to hold out the project in less time. Innovation has always played a decisive role in economic and social development; it is the main source of economic growth and also the foundation of competitiveness. Innovation ability is one of the most important factors to decide the competitiveness of an enterprise, region, and country. Sidney Winter argued that the difference in competitiveness is because of innovation ability. All the sources of competitive advantage can be explained by innovation, all difference competitiveness can be illustrated by difference of innovation whether history or current. Porter's theory of national competitive advantage focused on technological progress and innovation. The core of national advantage is invention and entrepreneur. Business is the major force to stimulate economic growth is the engine of national innovation. Business has the desire to be engaged in innovation and R&D because of its profit-seeking motive. But compared with businesses other daily operational management, the difference is that corporate innovation has a strong externalities and spillover effect. Invention and innovation or more general knowledge and information have some characteristics of public products, which are knowledge developed for specific purpose would easily overflow to be used for other purposes (Innovation Policy and Corporate R&D - Robert P McGowan and Kai Hu)

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Last date updated on September, 2024