Innovating Start-up Business and Entrepreneurship

Abstract

Innovation and Entrepreneurship are two related words in the business world. Entrepreneurship is an activity of designing, starting and running a new business. Entrepreneurship is doing things that are generally not done in the ordinary course of business. Entrepreneurship is the risk taking by the innovators called entrepreneur in an economy. Innovation may be in introducing a new manufacturing process that has not yet been commercially exploited. Innovation is translating ideas or inventions that creates value. It satisfy the customer needs and preferences. Entrepreneurship is applying innovation to bring ideas and does thing in a new and better way. Innovation involves problem solving and Entrepreneurship is a problem solver. The paper says about the innovation and Entrepreneurship mainly focus on the importance and development of the business where the company earns profit from the customer satisfaction. It shows the current role of the innovation and Entrepreneurship development and how it helps in business survival.