Tma B322

1695 Words Dec 6th, 2012 7 Pages
Question 1
Innovation is about finding new or better method of making something, a product or a service. Innovations are born due to several reasons .Peter Drucker has outlined seven sources of innovative chances or opportunities .I am going to identify them below.

1. Unexpected happenings, as a sudden event that can be a indication of a distinctive chance for innovating or entrepreneurship.
2. Incongruity, as the divergence between what everyone think of a thing and the reality of it , this difference can create an innovation.
3. Innovation born when a new process is needed is a chance to fill the gap and create something new.
4. Changes happened to the industry structure can be a possibility for an innovative product to pop
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Having the mental ability to think in an intelligent and creative way for doing all kinds of business while keeping his eyes on the objective and not losing the energy however remaining persistent to take risks and new challenges by introducing high number of innovative products to the market without fear of failure are the reason behind the enormous success of this inspirational entrepreneur.
Word count: 276

An entrepreneur is a person who has the potential to do something different. Being an entrepreneur is about having the right skills and the right idea along with the right experience and in the end being able to generate a totally unique innovation
Gary as an entrepreneur is a risk taking individual who enjoys taking the chances and entering uncertain situations to do business.

Many characteristics that he owned helped him be the entrepreneur he is now. The many experiences he has from his childhood, in hi father grocery’s store and the experience he gained in the army and combining them all together taught him that being risky can be quite fun

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