Sustainability in Entrepreneurship, Innovation, and Economic Development

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

Mankind has thrived off of the dependability of ideas and the application of them for centuries. Moreover, humans have sustained healthy lives through developments and inventions that have improved the world around them. From the earliest Mesopotamian creation of the wheel to Apple’s recent release of the iPhone 7, groundbreaking revelations have perpetuated and molded human survival in some aspect. Anyone can generate an idea, but rather, it is the ability to transform that idea into a development that is valued by many--which is what makes being an entrepreneur remarkable. Entrepreneurs are some of the keenest, most creative, and passionate people that walk the earth.

2. What role does entrepreneurship play in the economy? Who stands to gain from the success of individual entrepreneurs? How do other parties benefit?

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

What role does entrepreneurship play in the economy? Who stands to gain from the success of individual entrepreneurs? How do other parties benefit?

Harvard business essentials : managing creativity and innovation, 2003, Harvard Business School Press, Boston, Mass.

1) Which country was used as a subject to test the potential benefits from entrepreneurship and innovation in developing countries?

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.”

Throughout this paper I will begin to look at the sustainability that has been put in place for Garmin International and how it affects the current and future leadership of the business. In addition to contributing to sustainable innovation to keep the company relevant and successful in a competitive technology race around the globe. This paper will focus on the keys for success that the company instills into its manufacturing, employees and areas where the company is lacking focus. By holding executive management accountable in regards to resources. Tracking the success of initiatives that have been up in place for sustainability.

In today’s knowledge-based economy, innovation has become the principal source of competitive advantages in global business; the success of firms now depends more on their intelligence capability – such as employee creativity – than traditional material assets (Amabile et al., as cited in Zhou, Zhang & Montoro-Sa ́nchez, 2011). The creative capability of individual and collective knowledge workers is the fuel that powers innovation in firms. While creativity leads to the production of new and useful ideas in any domain, innovation is the successful implementation of those creative ideas within an organisation (McLean, as cited in Zhou, Zhang & Montoro-Sa ́nchez 2011). In highly dynamic business environments innovation and creativity have become crucial for creating competitive advantages for the

In order to be an integral part in saving the Earth’s environment and ensuring resources for future generations, the way individuals live needs to change. Being fortunate enough to reside in one of the nation’s most developed countries, I wanted to make sure the way I have been living has been meeting the standards set by sustainable living. Using the overall environmental footprint provided by Global Footprint Network, I was able to pinpoint the areas in my life that needed to improve in order for me to be more sustainable. I chose to use this Footprint calculator because it gives you a breakdown on how many resources from the planet are needed in order to provide for your living standards. Once you have input the information, the calculator provides a general ecological footprint explanation and gives real case scenarios in which you can do to reduce it. The results for my footprint were as follows: If everyone were to live the way I do, we would need 5.3 planet earths to provide enough resources. It would take 23.6 global acres of land for energy production, which would emit 23.6 tons of carbon dioxide, and the biggest impacts on my personal footprint included 36 percent of services, 21 percent food and 19 percent mobility.

Sustainable development is defined as “Development that meets the needs of the present generations without compromising the ability of future generations to meet their own needs” (IISD, par. 1 ).

AN ESSAY ON THE ROLE OF ECO-ENTREPRENEURSHIP EDUCATION IN FORMING A MORE SUSTAINABLE BUSINESS AND FUTURE LOCAL ECONOMIC GROWTH

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

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