Entrepreneurship and Innovation Essay Example | Topics and Well Written Essays - 3250 words

Entrepreneurship and Innovation - Essay Example Bibliography†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.12 8. Appendix I Reflective Commentary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.13 Entrepreneurship and innovation Introduction Human activity has reached its height in XXI century. Therefore, there is a need to develop and facilitate spheres of human activities. Business is a sphere of human activity, which requires constant development and dynamic change. Under conditions of overall globalization processes, business activities have to adopt constant changes in order to satisfy diverse needs of customers and producers. Thus, innovation in the business field is required. Entrepreneurship is an integral part of the modern business world. A need for innovation in this field is a sign of constant development of the bus iness world and reflects a dynamic nature of all participants of the business world (Bessant & Tidd, 2009). This research paper discusses intrapreneurship as an innovative type of entrepreneurship. Intrapreneurship implies entrepreneurship activity of employees within a certain organization. This phenomenon has been often studied from theoretical and practical perspective, but there is a need to study positive and negative effects of intrapreneurship. ... An intrapreneur propagates and supports his ideas thus creating a gap between organizational goals and his own goals. The best scenario for an intrapreneur is to gain support from the organization where he works. In other cases, he has to quit from his job and set up his own business. A well-known example of intrapreneurship is separation and propagation of the ideas developed by the developers of Adobe, John Warnock and Charles Geschke (Literature Review, 1990). These engineers were hired by Xerox and their innovative ideas were not supported within the organization. Finally, they established their own business and currently annual turnover of Adobe rises up to $3 billion. Literature review on intrapreneurship and entrepreneurship At first glance it may seem that intrapreneurship is rather easy and uncomplicated process of business doing. Very often, one attempts to reveal characteristics of entrepreneurship in intrapreneurship: the former business doing implies innovation and creat ive thinking and things are considered from an innovative perspective. Enterpreneurship is able to take a risk and accept failure. An intrapreneur is focused on the search for new opportunities that will result in profits increase. Intrapreneurship is a perfect way for organizations to increase their profits and develop creative thinking of their employees. Intrapreneurship is a way for innovation, reinvention and improvement (Carrier, 1996). A creative potential of employees is the core rod of company’s innovative and successful development. Currently, studies on entrepreneurship and intrapreneurship are focused on comparative-contrasting analysis of these activities. More educated employees with a richer experience were not involved in intrapreneurship