The Relationship among Entrepreneurship, Innovation, and Marketing
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
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
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