INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
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Development of a new product
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Take-over of a competitor
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Issuing shares
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Development of an organization
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Detailed explanation-1: -Entrepreneurship: Entrepreneurship is also critical to the process of creative destruction. The entrepreneurs who develop new products and technologies and disrupt existing markets are the agents of creative destruction.
Detailed explanation-2: -What causes creative destruction? Creative destruction is the process by which capitalist enterprise creates a continuously changing economy. The closing of old industries and businesses that are no longer profitable allows the resources to be used for more productive activities.
Detailed explanation-3: -However, high levels of creativity and innovation can be hard to obtain from people. There are several factors influencing this, but four of the most important ones are: motivation, leadership, positivity and personality traits.
Detailed explanation-4: -Step Away from the Screen. Work Backwards. Keep Notes on Everything. Take Occasional Mental Breaks. Go Out for a Drink. Use Some Mood Lighting. Meet with Groups of Creative Thinkers. Day Dream. More items •25-Feb-2015