ENTREPRENEURSHIP

Detailed explanation-1: -Innovation is the process by which entrepreneurs convert opportunities into marketable ideas. The innovation process involves only the development of a good idea. The four basic types of innovation are invention, extension, duplication, and synthesis.

Detailed explanation-2: -This moment is traditionally referred to as the “insight” stage of the creative process, or what some have playfully dubbed the “Eureka!” moment.

Detailed explanation-3: -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.