ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -In the words of Nathaniel H Left, entrepreneurship is the capacity of innovation, investment, and expansion in new markets, products, and techniques.

Detailed explanation-2: -ENTREPRENEURSHIP, according to Professor Nathaniel Left, is the capacity for innovation, investment and expansion in new markets, products and techniques. Development is a process while growth is a product.

Detailed explanation-3: -Innovation capacity has been defined as continually improving the capabilities and resources of firms for discovering opportunities in order to engage in new product development (Szeto, 2000). Meanwhile, there is a huge attention to meeting the customers’ needs by developing new products.

Detailed explanation-4: -Innovation in entrepreneurship means the practice of creating new business ideas and plans with the intention of generating profits, helping the community, and accompanying company goals.