Engaging Doctorate Students Through Entrepreneurship Essay

10. Visit the website for a large bank or credit card company, and learn about a type of credit card being offered by the company. Describe at least four features of the card and where you got this information. (3-6 sentences. 2.0 points)

Alongside the entrepreneur spirit, Innovation is the process of taking new ideas and implementing them into the market. Key word being “new”, an innovation can be sometimes viewed as the application to better solutions that meet new demand-requirements, inarticulated needs or existing market needs. Innovative ideas range from: goods, services, products, processes, services, technologies or ideas that create value for which customers will pay for. For an idea to be an innovation, it must be replicable at an economical cost and must satisfy a specific need. This means is that one must be ready and willing put their new idea to the test. On the other hand, there is recognition that “innovation is also critical to cultural, environmental, social, and artistic progress as well” (Bullinger, 2006). With this stated, high-tech innovation is ultimately the reason why we can be thankful for the many new conveniences of the 21st century. Although we might see the forefront of innovation being very prominent in today’s world, innovation is truly nothing new. From the start of modern man times, innovative ideas have paved the way for civilization to advance and develop into what we are today and at the same time, we have barely begin to chip away at the tip of the iceberg of our true human potential. Some scholars believe that innovation is a

I have always been interested in “doing my own thing” or, better known as, entrepreneurship. In high school, I would buy T-shirts, sweatshirts, and hats in bulk. I’d embroider little emblems on them and mark up the price by 100%. People at school would buy $1 shirts and pay $9 for my craftsmanship. However, I wanted bigger and better things. I channeled Andrew Carnegie in my approach to business: why just stop at my little venture when I could vertically integrate and market for myself? I decided to invest all my money in a new cause and thus, my own social media marketing company was born. The skills I’ve learned in starting my company is something that cannot be taught. I would relish the opportunity to grow and learn at an institution like The Stephen M. Ross School of Business that understands the importance of innovation and exploration.

The clip from Silicon Valley showed many entrepreneurs pitching their trivial products under the slogan that the products “will make the world a better place” and is “local, mobile, social”. These pitches essentially strung big words together in hopes that the investors will fund the products. This satirical portrayal of the entrepreneurs contributes to the conversations we had on the current climate of entrepreneurship and the goal of entrepreneurial ideas. As described in Avery Wiscomb’s article “The Entrepreneurship Racket”, many students and faculties are feeling the pressure of being entrepreneurs. Under this pressure, students develop ideas that are as trivial as those portrayed in the video and the contradiction between the slogans and

The arguments and findings of the reports can be cross-linked to a number of important concepts in the theory behind science and technology policy. The main concepts that will be used to analyze the finding of the report are the linearity model versus the innovation space and the push-pull concept between R&D and businesses. The linear model of innovation describes as a chain of supply and demand starting with science and ending with economic growth. The science acts a suppler for the demand of technology, and technology supplies the demand of businesses in order to be innovative. The end result of an innovative business is perceived as a contributor to the increase in productivity and as a result economic growth. On the other hand, the concept of innovation space or the innovation ecosystem as referred to in the report regards innovation as the output of an integrated

Considerable confusion exists between entrepreneurship and intrapreneurship, as well as, innovation, creativity, and invention. First,

Innovation is an important tool in all companies and organizations. It helps them to create new products or change their current products in a way that brings them huge competitive advantage. It changes how the products are created and delivered and the risks that are undertaken to deliver the products. Regular and focused innovation is thus extremely important in the survival of organizations as is evidenced in the history of many of the successful organizations(Shane & Ulrich, 2004). In the IT sector, innovation is extremely important and is even known to be a priority. Various government agencies as well as private sector companies have stated that lack of innovation is a huge risk to the future of the organization and should be avoided at all costs. These sentiments are shared across the governments of Australia, UK, Canada, US, India and South Africa. This is to show that the importance of innovation cuts across all continents and countries(Bessant & Tidd, 2011).

There is a range of both empirical and theoretical evidence to indicate that there is a clear correlation between economic growth and innovation, with the OECD calling the innovative effort “the sine qua non of growth”. This conclusion is the result of the fact that in order to foster economic growth one must either increase inputs or improve the productivity of these inputs. Furthermore, new advances in technology provide consumers with new and cheaper products, act as capital inputs to improve the quality and efficiency of the production process, improve environmental sustainability and facilitate network growth through communications technology. It is clear that the key role of Veblen’s engineers would be to innovate as much as possible to enhance the productive capabilities of the business machine, and that given result of innovation is to improve economic growth and development such actions should be

Technological change is a fundamental driver of economic development and performance, not only at the level of firms and industries but also economies. Innovation is the organizational process through which new

Explain and critically analyze unique traits of an Entrepreneur, discuss these related to personal strengths and weaknesses

The economy is composed of enterprises and businesses. Our economy has survived because the industry leaders had been able to adapt to the changing times and supplied mostly the communities’ needs. Entrepreneurship produces financial gain and keeps the economy afloat, which gives rise to the importance of innovation in entrepreneurship. Entrepreneurs are innovators of the economy. The importance of innovation in entrepreneurship is another key value for the longevity of a business. And, being innovative has helped us become successful in all our endeavors.This leads me to choose my higher education in “Master of Business Administration

At the beginning of the course I had only had basic entrepreneur knowledge, I understood the traits, and the amount of thought put into a business. I understood a entrepreneur needed to be able to set goals and had to establish connections and business partners. I was actually lucky enough to have taken a entrepreneur class in highschool. Which taught me lots on how an entrepreneur business is started. It also taught me the required determination and hard work it takes to be a entrepreneur.

Companies live and breathe innovation; or, at the terribly least, notice it basic to their success. Such companies are those that others ought to emulate for they recognize that to do business, as Peter Drucker prompt in an exceedingly recent Harvard Business review article, “Every firm—not simply businesses—needs one core competence: innovation.”

At the final week of Innovation & Enterprise I EE3031 module, I finally learned the process of conceptualizing and designing a product which involves technology. Leadership, teamwork and communication should be part of education as it not only enhances interpersonal skills but real life skills. In addition, presenting to an audience was key to gaining interest for a new development product.

Innovation has remained a continuously represented functional trait of entrepreneurs in literature (Carland et al 1984; Dyer et al 2008; Schaltegger and Wagner 2011; Nochian and Schott 2012). In Schumpeter’s early work (1934, 1942), he reasoned that innovation was a paramount force of economic development as it acts as a catalyst in the success and expansion of an economic cycle. Becheikh et