In today's world of business...to thrive in it you must be a fast and vast thinker.you must be an innovator to access new markets and territories.
In this post I'll be talking about innovation and Entrepreneurship.
•INNOVATION
Innovation In Entrepreneurship
We can see Innovation as a process that provides extra value and novelty to an existing product,service or manufacturing processes,an organization at large and as well as new methods of obtaining Profit.
Any kind of Innovation must address market needs and requires Entrepreneurship if it is to achieve commercial success.
Innovation ia a tool every Entrepreneur that seeks to birth a change in the society and nation at large must have.
An Entrepreneur is one who takes risks for profit,one who provides opportunity for the establishment of new companies through their Innovations and also job opportunities for people.
In BUSINESS, Innovation is a must have tool if you don't want to be placed in the sidelines.
In the mobile sector,"DRIVERLESS CARS ARE THE NEXT FRONTIER"
This innovation like I said earlier would lead the the creation of new companies and also job opportunities for the creation of DRIVERLESS CARS....this is the future of cars in mobility....what do you think about "FLYING CARS" .....you can leave your answers in the reply section
Every entrepreneur must be able to think long-term and innovative news ways to access the market and serve.
Guess what, it's not so easy because it's RISKY.... INNOVATION IS RISKY..
HOW?
This is because you might innovate something new in a market and whilst everyone is still trying to gulp and swallow what innovated,you'll then come and innovate something new again...guess what.. it's needed but it's not yet time to be looked into. . that is also why you have to time when to release something new to the market.
For instance,we all know about TESLA CAR (ELECTRIC CAR)...... It's going to be risky for the inventors to invent another car ...a car that needs your fingerprint to open or a car that uses something like a voice scanner to operate....all these can be innovated but there's a right timing for it..for the mean time.... people would be given enough time to buy and enjoy The current model of tesla car.
INNOVATION INVOLVES A VARIETY OF DIFFERENT PHASES WHICH INCLUDES.
1.A great deal of knowledge and understanding of what you want to do
2.Idea generation.
3.Research,design and development of your idea
4.Prototype production
5.Manufacturing, marketing and sales.
The end result of every Innovation includes:
1.creation of new businesses and companies.
2.Creation of job opportunities..etc.
The similarity between innovation and Entrepreneurship is entrepreneur exploit Innovations to create opportunities for people and companies..... innovation on it's hand requires entrepreneurship to achieve it's commercial success.
THE WORLD NEEDS #INNOVATIVE ENTREPRENEURS
CHEERS