Entrepreneurship & Innovation
By: Brent Stackhouse, MBA
Consultancy Firm Manager
AB, International Relations, William & Mary
MBA, Management, Troy University
The Stackhouse Agency, LLC
April 22, 2016
Entrepreneurship has been readily accepted by many individuals as a worthy means of utilizing talent, making connections, and fulfilling a vision. Others are highly risk-averse, finding entrepreneurship incompatible with higher feelings of personal security even at the expense of potentially greater financial gains. Many individuals attend graduate programs to increase personal levels of entrepreneurial success. Other individuals find very large existing businesses to be attractive for certain career goals. Motivation and awareness drive innovation.
Innovation arises with certain people possessing particular passions or desiring to meet particular objectives. Innovation often occurs within entrepreneurship. Innovation also occurs due to the needs or objectives of certain larger existing businesses. Venture and existing firms are able to provide goods within the market without necessarily abiding in perpetual conflict. Venture and existing firms are often highly compatible. Specialization, regional variables, organizational culture, exchange, knowledge, inputs, and financial considerations impact innovation within firms. The vision of leaders and their implemented actions have provided levels of innovation highly beneficial for society – beyond just a return of value for the innovating firms.
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