Exam (elaborations)
Project Development And Entrepreneurship part 2
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These Notes will help you in preparation for exams as well as will provide deep knowledge for project management and entrepreneurship
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PROJECT MANAGEMENT&
ENTREPRENEURSHIP
KHU-702
UNIT-II
, CONTENT
Entrepreneurial Idea and Innovation:
Introduction to Innovation,
Entrepreneurial Idea Generation and Identifying
Business Opportunities,
Management skills for Entrepreneurs and managing
for Value Creation,
Creating and Sustaining Enterprising Model &
Organizational Effectiveness
, What is innovation?
The term innovation refers to a “new way of doing
something”.
It may refer to incremental and emergent or radical
and revolutionary changes in thinking, products,
processes, or organizations.
Innovation recipes = Creativity + Failure + Iteration
, What is innovation?
Schumpeter argued that innovation comes about
through new combinations made by an
entrepreneur, resulting in
a new product,
a new process,
opening of new market,
new way of organizing the business,
new sources of supply
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