Entrepreneurship and Innovation

Innovation refers to introducing novelty in a product, service, strategy, or business model. Moreover, innovation also increases growth in the current business environment. Sometimes, it is an idea, and sometimes, it is a concept that helps stay ahead of the competition and induces creativity and efficiency in businesses. Central to innovation are entrepreneurs: innovative and risk-taking individuals who seek to bring about change and new opportunities, both for themselves and the business communities in which they operate. Entrepreneurship refers to the process of developing new business ventures or growing existing ones. In the second part of this chapter, the importance of entrepreneurs to economic activity, their role in our organizations as intraentrepreneurs, and the development of the concept of entrepreneur attitude will be discussed in detail.