ENTREPRENEURSHIP

Detailed explanation-1: -You don’t just have to invent something; for example, introduce it to the market so people can use it. One of the main purposes of innovation is to propose new ideas and technologies to increase productivity and produce good results and value with the same amount of inputs.

Detailed explanation-2: -Innovation plays a key role in introducing novelty to existing product lines or processes, leading to increased market share, revenue, and customer satisfaction. Sometimes innovation is used to upgrade the operating systems of the business or to introduce modern technologies for automation.

Detailed explanation-3: -To invent something is to discover a new thing. Meanwhile, to innovate means “to use a newidea ormethod”. To innovate is to introduce something new to the market, to manipulate existing inventions and turn them into a product or process that is of use in the real world.

Detailed explanation-4: -Inventions improve our lives in many ways. They make our tasks easier, entertain us, improve our knowledge of the world, and even save lives.