ENTREPRENEURSHIP

Detailed explanation-1: -Based on Schumpeterian views of economic transformation, innovative opportunities refer to a set of different elements within the processes whereby actors identify, act upon and realize new combinations of resources and market needs to try to benefit from their future economic potential.

Detailed explanation-2: -For something to be truly innovative, it must disrupt or increment on existing models to create a measurable increase in value for an individual or group of people.

Detailed explanation-3: -Sources of Innovation Four such areas of opportunity exist within an organziation or industry: unexpected successes and failures, incongruities, process needs, and industry and market changes.

Detailed explanation-4: -The main difference between innovation and entrepreneurship is that innovation involves introducing something new. This can be a new business model, product, idea, or service. On the other hand, entrepreneurship involves turning a great idea into a business opportunity.