innovation and entrepreneur

           Creativity is the generation of ideas that result in the improved efficiency and effectiveness. It is the application of person's mental ability and curiosity to discover something new.

              Invention simply means the idea behind things it involves the discovery of new ideas, new products and new method.

            Innovation: creativity leads to innovation, innovation simply means to introduce witjin a company or market place new methods, processes, technologies, product.

Innovation and entrepreneurship is the two side of coin. Both are intimately interrelated and correlated each other. Innovation is one of the underlying dimensions of entrepreneurship. It is the key function in the entrepreneurial process. Without innovation an entrepreneur cannot  survive in the modern competetive business world.

According to Joseph Schumpeter the entrepreneur is the innovator who implements change within  markets through the carrying out of new combination. the carrying out of new combinations can take several forms 

1. introduction on new good or quality 

2. introduction of new production method or technology.

3. opening of a new market

4. the conquest for new supply of raw material or  parts