Innovation and Entrepreneurship

Innovation is a discipline, with its own, fairly simple rules. And so is entrepreneurship. The term innovation means a new way of doing something. It may refer to incremental, radical, and revolutionary changes in thinking, products, processes, or organizations. A distinction is typically made between invention, an idea made manifest, and innovation, ideas applied successfully.

The spirit of enterprise makes man an entrepreneur. Such a spirit transformed him from a nomad to a cattle rearer, to a settled agriculturist, to a trader and to an industrialist. Thus, entrepreneurs are persons who initiate, organise, manage and control the affairs of a business unit which combines the factors of production to supply goods and services, whether the business pertains to agriculture, industry, trade or profession.

This book is designed to support and enhance both learning and teaching. An important aspect of the style adopted for this book is the use of exhibits, presenting a vast gamut of information regarding special theoretical matter.