Eureka! Institutional Repository

Nowadays, there are several economies and industries which have slumped to financial crisis and struggle to reflate. Leaders of nations and entrepreneurs strive hard to reach a compromise into"a world of economic chaos."It has never been more imperative the need for innovative ideas and groundbreaking business activity ever before! The first chapter of this book starts with the definition of Entrepreneurship and gives more emphasis in the main three factors which are vital for exercising entrepreneurship. The existence of business opportunities, which include the analysis, the indispensable knowledge and the essential procedure for tracing a business opportunity. The appropriate exploitation of a company’s resources and the necessity for awareness of the grave danger which is closely connected with any business move. Then we will look at the two-way relationship of the entrepreneur with the business, identifying the entrepreneur, capturing his characteristics and activities, and indicating the incentives that attract him towards entrepreneurship. Then we will emphasize the importance of the business plan for the business and the entrepreneur. We will see how business opportunities can emerge through development, and we will close the chapter by demonstrating in a very illustrative figure the pros and cons of the entrepreneurship. In the second chapter, we will deal with Innovation. We will start by defining the term innovation by quoting a number of definitions. We will name the four types of innovation. Next, we will rank the five critical steps for the proper management of innovation, and we will also make special reference to the necessity of innovation for today's business. We will also emphasize the competitive advantage that the entrepreneur enjoys by creating innovations, and we will close both our chapter and our subject with the factors that contribute to the success of innovation. In the end, we study a unique case in which the well-known Apple Company applies a smart innovative idea into its product, and maximizes its annual financial statements while leading on the game of technology.