innovation report

Topics: Entrepreneurship, Innovation, Management Pages: 6 (1525 words) Published: November 28, 2014

Executive summary
The entrepreneurship and innovation contains the strong relationship that the innovation can be captured and used by the entrepreneurs in the organisation. The innovation means the new and better product or service development, and the delivery that product into market successfully. If the organisation is the innovative, the sustainability presents high as they gain the competitive advantage in long term. To support between entrepreneurship and innovation, the special characteristics should be considered. The entrepreneur can influence of recognition of innovation product and services. In the end of report, the case study of my family business was chosen and evaluated in terms of innovative dimension. The recommendation as the innovation plan was proposed that can turn the business into innovative and sustainable organisation.

1. Introduction
Becoming the innovative and sustainable business becomes the key to success of today business. There are the relationship between entrepreneurship and innovation that drive the organisation to be innovative and sustainable. In this report, the concept and engagement of entrepreneurship and innovation process was presented. In addition, the personal case study, my family business, was evaluated using the innovation diagnostic diamond tool and was generated the innovation plan to the company. Most of the current business focus on short-term business, however, the long-term business opportunity should be applied the innovative process into different departments in the company. This will gain the competitive advantage in long term and the company becomes sustainability. 2. Concepts and engagement of entrepreneurship and innovation 2.1 Concepts and engagement

Innovation is the specific tool of entrepreneurs that can be used to take advantage the business changes, new opportunity, generate the new products or services. Entrepreneurs need to seek for the innovation sources, and then implement into reality. Thus, the business opportunity can be linked to the innovation that generates something new or better. Entrepreneurs as the innovators are able to create new products or process to gain the competitor advantage (Kanungo, 1999). Innovation is not only creating the new product or services, the distribution to end-use is but also included into innovation concept. Entrepreneurship can involve the new idea capture and transforms them into the new products or services, then take that products into market (Johnson,2001). Entrepreneurship can represent the organisational or individual behaviour and culture. Innovation was suggested as the key element of entrepreneurship (Miller,1983). 2.2 Characteristics

An entrepreneur is naturally born as the leader with specific characteristics. There are three main character of entrepreneurship; including willingness to learn, engaging personality, and strong moral compass (Miriyam, 2013). Entrepreneurs are willing to learn the new things, getting out from their comfort zone, and do their experiment to test their research or idea. In addition, they are engaging other people in their team and drive entire team to achieve the goals. This can be said entrepreneurs show the engaging personality, motivating colleague with their idea, and be realistic. With above characteristics, normally they will gain the reputation. The networking, teamwork, and relationship are much important for entrepreneurship. The team-oriented process is a key to success in the project or business. Innovation is required the new idea and its expansion. Innovators are recognised as the key person to solves the exist problems, finding solution economically. There are two main innovation characteristics; strong sense of integrity and goal-oriented productivity (Miryam,2013). The innovation relies on idea, development, and productivity. Innovator normally transforms the idea into object used in reality. Thus, with the matched key characteristic between...
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