Why True Innovators Must Behave Like Entrepreneurs

1029 Words5 Pages
ENTREPRENEURSHIP AND INNOVATION
Analysis of the Relationship between Entrepreneurship and Innovation
According to the author, personal entrepreneurship is the ability of a person to trade in goods and services for the purposes of creating wealth for the individual, while personal innovation is the ability to generate new ideas for the purpose of creating new or improved products or services. The author further argued that organizational entrepreneurship is the knack of the registered business to exchange its goods and services for the purpose of generating profits, while organizational innovation is the knack of a registered company to come up with new products and services for improved delivery of products and services to its customers.
…show more content…
In their study Dyer., Gregersen., & Christensen. (2009) discovered that great innovators of our time Apple’s Steve Jobs, Amazon’s Jeff Bezo and Skype cofounder Niklas Zennström are enthusiastically willing to make a difference from the way things and frequently “take risks” to create change. Further the results under “championing change” was also not good enough meaning that the author has an element of resistance to change which is a recipe for failure in business because an entrepreneur must be ready to embrace and deal with changes on the market due to innovation which brings about new and sophisticated products on the market thereby threatening the existence of the business if the business leader is unable to champion the change.
Reflection of Personal Strength on Relationship between Innovation and Entrepreneurship
Dyer, Gregersen, & Christensen. (2009) argued that “innovators rely on their courage to innovate, an active bias against the status quo and an unflinching willingness to take risks to transform ideas into powerful impact”. It was interesting enough to see the author’s high score in “coaching and developing people” a personal strength which builds relationships and an ingredient which fosters trust and growth in business because when you invest in people, they become engaged in innovation and entrepreneurship as well as identifying

More about Why True Innovators Must Behave Like Entrepreneurs

Get Access