Invention, Innovation and Entrepreneurship

In this paper I will explore the importance of innovation and creative effort in Asia which leads to entrepreneurship. Also analyze how the entrepreneurial spirit and new ideas, the heir to the ideas, establish new businesses that add value to the Asian society.

If creativity is the seed that inspires entrepreneurship, innovation is the process of entrepreneurship. Enterpreneurers often thought to be “inspired” people, and perhaps are, but more importantly, we recognize that often the changes and opportunities that may arise from a dynamic world. Innovation is an important factor in the ability of each business leader. Is defined as the process of doing new things. Therefore, it is often the active translation of a creative idea into a new product, service or technology. Drukers writes that “… innovation is the means by which the entrepreneur either creates new wealth-producing resources or endows existing resources with the greatest potential for wealth creation.”

It seems worthwhile to explain the difference between innovation and invention. Innovation is the process of doing new things. It is important to recognize that innovation implies action, not just new ideas. When people have gone through the lights and verification stages of creativity, you may have become inventors.

The difference between inventors and innovators is that inventors are not limited to those who create new products. They include those who identify new technological processes, new forms of plant life, and new designs. Each of these indecent, may lead to new patents.

However, to get an idea of value, it must be shown to be useful or commercial, and to either state, the idea should be developed. Innovation is the process of development. Is the translation of an idea into an application. Analytically requires persistence in developing the design details of the product or service, to develop marketing, obtaining finance, the process involves obtaining the materials and skills of manufacturing, staffing operations, and the establishment of an organization.