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Entrepreneurship is an abstraction and entrepreneurs are tangible persons well designed and controlled research studies on entrepreneurship are very few. If we view entrepreneurship as opposed to management, it becomes still more difficult to define entrepreneurship.
Business enterprises need to be innovative for their survival and better performance. It is believed that smaller firms have relatively higher necessity and capability to innovate. The smaller firms do not face the constraints imposed by large investment in existing technology; thus they are both free and compelled to innovate. The national science foundation, an organization in USA found that small companies produce four times more innovation per research dollar than do bigger companies. Entrepreneur ship development programmers are aimed at accelerating the pace of small firm’s growth in India. Increased number of small firms is expected to result in more innovations and make the Indian industry compete in international market.
Entrepreneurship is a role played by or the task performed by the entrepreneur. The central task of the entrepreneur is to take moderate risk and invest money to earn profits by exploiting an opportunity for this he must possess farsightedness to perceive an opportunity. So that he can exploit it well in time. Although an entrepreneur has to perform diverse functions yet he must manifest many qualities in himself to be a good entrepreneur.
Keywords:
INNOVATION CONCEPT, FORMS OF INNOVATION, IMPORTANCE OF INNOVATION
Cite Article:
"ENTREPRENEURSHIP AND INNOVATION : EMERGING ISSUES", International Journal for Research Trends and Innovation (www.ijrti.org), ISSN:2455-2631, Vol.8, Issue 5, page no.2186 - 2187, May-2023, Available :http://www.ijrti.org/papers/IJRTI2305213.pdf
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ISSN:
2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator