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INNOVATION
Systematic Entrepreneurship
Who is enterpreneur?
J.B say defined in 1800:
the enterpreneaur shifts economic resouces out of an area of lower and into an area of higher productivity and greater yield But there is confusion over the definition for e.g in USA it is defined as one who starts his own new and small business So, not every new & small business is enterpreneural or represents enterpreneurship:
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E.g-1 opening a HOT n SPICY new Branch at NAWABSHA-Sindh
It is taking risk
new consumer demand So they r not enterpreneurs even though there is a new venture.
management practices n techniques, created new market demand for same old burgerso
Continue.debate
Entrepreneurs create something new, s.th different, they change or transmute values.
An enterprise also does not need to be small
Marks n Spencer.
Modern Hospitals
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Thus the entrepreneur always searches for change, responds to it, and exploit it as an opportunity. Entrepreneurship could be less risky:
E.g- IBM, E.g- Marks & Spencer, E.g- P &G,E.g- 3M
systematic, it needs to be managed irrespective of size, growth and risk level. It needs to be based on purposeful Innovation.
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3. Innovation based on process need
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5. Demographics
Population changes
7. New knowledge
2. See peoples expected response 3. Be simple and clearly focused on a specific need
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4. Start small
5. Aim at market leadership
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