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ENTREPRENEURSHIP AS INNOVATION AND PROBLEM SOLVING - Coggle Diagram
ENTREPRENEURSHIP AS INNOVATION AND PROBLEM SOLVING
Social Entrepreneurship
Need:- to overcome economic crisis.
to cater changing market demands.
CHARACTERISTICS:-
social catalysts
opportunity seeking
innovative
resourceful
accountable
Examples:- Vinoba Bhave, Anshu Gupta
Business Risk
Risk :- 1] possibility of having a loss
2] can be insurable or non-insurable
TYPES:
External :
1] economic factors
2]natural factors
3]political factors
Internal:
1]Human factors
2] technological factorS
3]physical factorS
Role of Technology;-
1[ information collection
2] Business intelligence.
3]Smart mobility
4] cloud computing
Entrepreneurship as a Problem Solver ;
.
1] entrepreneurial actions are efforts to solve problems for other.
2] entrepreneur creates value by solving market problem and this create a profitable enterprise.
Innovation which became entrepreneurial ventures:
1] penicilin (Sir Alexander Fleming)
2] potato chips (George Crum).
3] pacemaker (John Hoops)
4]microwave ovens(Percy Spencer)