(Optional) Describe the need for entrepreneurial innovation.

Description should include

  • the definition of innovation
  • the relationship between entrepreneurship and innovation
  • the reasons for the necessity of innovation in society
    • to differentiate a product/service
    • to introduce a new product/service to meet a community demand
    • to enhance a product/service
    • to reach or create new markets. 

Process/Skill Questions:

  • What causes someone to improve an existing product?
  • How is innovation linked to performance and growth in business?
  • How do organizations cultivate an environment that supports innovation?
  • How can innovative goods and services create new markets?