ENTREPRENEURSHIP

Detailed explanation-1: -Entrepreneurship is the result of a disciplined, systematic process of applying creativity and innovation to needs and opportunities in the marketplace.

Detailed explanation-2: -Entrepreneurship – the result of a disciplined, systematic process of applying creativity and innovation to the needs and opportunities in the marketplace. Entrepreneurs connect their creative ideas with the purposeful action and structure of an enterprise.

Detailed explanation-3: -Creativity and innovation helps develop new ways of improving an existing product or service to optimize the business. This also allows entrepreneurs to think outside the box and beyond the traditional solutions. Through this opportunity new, interesting, potential yet versatile idea come up.

Detailed explanation-4: -Paul Sloane explains the difference this way: “Creativity is the capability or act of conceiving something original or unusual, ‘’ while “Innovation is the implementation of something new.” Every invention, Sloane argues, is an innovation, because it is an implementation of a novel idea.

Detailed explanation-5: -The creative process is made up of 5 steps: preparation, incubation, illumination, evaluation, and implementation. The preparation stage of the creative process often begins with gathering research and defining objectives.