The Relationship among Entrepreneurship, Innovation, and Marketing

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Executive Summary

Small firms are now recognized as a vital and significant part of the economy in the world, and also small business is difference from big business, these difference lead to difficulty to understand the term of entrepreneurship, innovation and marketing concept in the small business new venture. This report aim to investigate the relationship among entrepreneurship, innovation and marketing. And will focus on especially in SME new venture.

The finding show that, entrepreneurship is anyone whose takes the final say and puts words into action which include some characteristic, such as decisive decision makers, enjoy taking charge and risk taker. This report also analysis the factors influence the entrepreneur motivation to create business, which include both internal and external motivation and also discuss the difference between entrepreneurship and small business, and shows the reader Why is entrepreneurship important? Moreover, innovation is essential part of small business venture, which help to get ahead of competitors. Innovation involve creation to application of a new or improved idea, good, service, process or practice that is useful. There are many from of innovation, such as product innovation, process innovation. And we can put innovation into 2 catalogues; 'Incremental innovation and Radical innovation. Future more, marketing part is very importance tool available to small business; firstly, it connects the business with its target market, it provides the major link between the business and its customers. Secondly, as marketing focuses on the needs and wants of customers, it gives a business direction and helps manage in a changing environment. Thirdly, it provides the information the business needs in order to change direction or adjust its tactics by providing new products or changing existing products. Fourthly, marketing helps to coordinate how a business can best use its resources to satisfy customers and achieve profit targets, yet the marketing plan can actually be seen as the 'blueprint' for a business's future success.

Table of contents iii

Page

Title pageÌ

Executive summaryÌÌ

Table of contentsÌÌÌ

1.0 Introduction1
1.1 Background1

1.2 Aim1

1.3 Scope1

2.0 Entrepreneurship2

3.0 Innovation8

4.0 Marketing11

5.0 Relationship to SMEs14

5.1 Entrepreneurship14
5.2 Innovation17
5.3 Marketing19

6.0 Conclusion20

7.0 References list22

1.0introduction

1.1 Background

Small firms are now recognized as a vital and significant part of the economy in the world, and as one of the keys to national goals such as wealth creation and employment growth. However, small business do not equal to entrepreneurship, the phenomenon of entrepreneurship is intertwined with a complex set of overlapping concept such as innovation, small business management, and marketing management (Schaper and Valery, 2004). Moreover, from the fact that small business is difference from big business, these difference lead to difficulty in understand the term of entrepreneurship, innovation and marketing concept in the small business new venture. Therefore, it is importance to understand the actual impact entrepreneurship, innovation and marketing concept in the small business new venture. These knowledge will help in better management of the small firm in this highly competitive business world.

1.2 Aim

The object of this report is to investigate the relationship among entrepreneurship, innovation and marketing in the SME new venture context. The report will include both academic theory and up to date research support, and also the examples of successes as well as failures from business are include.

1.3 Scope

The scope of this report includes.
Discusses and analysis entrepreneurship concept,...
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