ENTREPRENEURSHIP

Detailed explanation-1: -Innovation, by definition, is the introduction of something new. Without innovation, there isn’t anything new, and without anything new, there will be no progress. If an organization isn’t making any progress, it simply cannot stay relevant in the competitive market.

Detailed explanation-2: -Creativity is thinking up new things. Innovation is doing new things. In other words, it’s no use sitting around dreaming up fantastic ideas unless you’re prepared to do the hard work of making things happen.

Detailed explanation-3: -Innovation is the process of turning a new concept into commercial success or widespread use. Invention is the creation of a new idea or concept. Creativity is the act of turning new and imaginative ideas into reality.

Detailed explanation-4: -Foster a culture of innovation. This means a culture promoting employee participation and trust, as well as trying new things, adapting and learning. Identify challenges and collect ideas. Validate. Implement and scale. Measure your efforts.