The relationship between entrepreneurship and innovation

The essence of entrepreneurship is to grasp the opportunity, creative resources integration, innovation and quick action. So the essence of entrepreneurship is innovation. Innovation is the soul of business. There is a close inner link between these two.

Narrow sense of entrepreneurship is a economics category, which is refers to the subject in order to create value and employment opportunities for the purpose. By forming a set of enterprise organization form to provide products and services for society economic activity. The business requirement for innovation is not high. More emphasis on economic activity is organized.

Innovation is the new thinking, new inventions and new described as a conceptual process characteristic. Latin origin, meaning it has three meanings. First, the update. Second, creating something new. Third, change. As long as it is business, there is a process from scratch. So innovation is the foundation of entrepreneurship. Entrepreneurial drive the innovation.

Done by Yue Yang