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Entrepreneurship and Innovation

Language: EnglishStudies in English
Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business. The people who create these businesses are called entrepreneurs
Innovation can be defined simply as a "new idea, device or method". However, innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. Such innovation takes place through the provision of more-effective products, processes, services, technologies, or business models that are made available to markets, governments and society. The term "innovation" can be defined as something original and more effective and, as a consequence, new, that "breaks into" the market or society. Innovation is related to, but not the same as, invention, as innovation is more apt to involve the practical implementation of an invention (i.e. new/improved ability) to make a meaningful impact in the market or society, and not all innovations require an invention. Innovation often manifests itself via the engineering process, when the problem being solved is of a technical or scientific nature. The opposite of innovation is exnovation.
Every new thing creates two new questions and two new opportunities.
Jeff Bezos, founder and CEO, Amazon, from 2007 Ted Talk "The electricity metaphor for the web's future", [1].
Our need for innovation has shifted power closer to the source of that power—Us. We are the future.
Max Mckeown. 'Preface', The Truth About Innovation, (2008).
As the births of living creatures at first are ill-shapen, so are all Innovations, which are the births of time.
Francis Bacon, ‘Of Innovations’, Essays, 24.
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