Innovation and Entrepreneur

The word entrepreneur is derived from the French word 'entrepredre'. An entrepreneur is very helpful for the economic development of the country. So, it is very necessary for every entrepreneur is leadership quality, better communication skill, innovative, decision maker, and risk taker, hardworking, creative. Innovation means something new creativity. Without innovation no one can survive in the market. He must have the good innovator.

Forms of innovation:

·        Regarding new product

·        Regarding new methodology

·        New source of supply to more creativity

                         

What entrepreneur does?

He is always goes for more and more innovation and creativity and proper exploit to all the opportunity.

                                

Condition of entrepreneur:

•      He must have proper knowledge and genuity.
•      To become more and more successful innovator always focus on strength rather  than weakness. 
•        He has to be close to the market when he wants to become a successful.

                             

Source of innovation:

·        As like innovator, to achieve the aim of the business then invest something new but you are not successful in innovation then:

                    

·     Imagine something different in mind and create something different.

When entrepreneur fails at the time of innovation but after failure when hi is survive then he becomes more popular as before. It is the main quality of every entrepreneur. When he is not surviving to any difficulty then he is not successful entrepreneur in the world.

•  Industry is the price maker. So, it can do any experiment because loss easily observed by the industry. The entire products which are available in the market are decided by the industry.

E.E. Hagen,” an economic man who tries to maximum profit by innovation. Innovation involves problem solving; the entrepreneur gets satisfaction from using his capabilities in attacking forms. More creativity more value in the market.”

Acc. to peter drucker,” entrepreneur are those person who are always searches for changes respond to it and exploits it as an opportunity. Every entrepreneur has full knowledge about concept and makes in such a way that every person can easily understand. No difficulty creates at the time of understanding. He is very able to arrange the available or mobilized the resources. Entrepreneur is very perfect to find alternative in that resources.