Understanding Business
Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Question

It is very true that the concepts of innovation and entrepreneurship are interrelated. Innovation is
the process of creating something new. Entrepreneurship identifies the opportunities in great
innovations that creates opportunities, adds value, and keeps the value improving over a period of
time. The innovation process involves a series of key steps that organizations follow to foster and
implement innovation. Discuss the common steps involved in the innovation process in depth with
relevant references and examples. 

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