Entrepreneurial Innovations

Entrepreneurial Innovations

Shanika L Williams

OMM 614

Maja Zelihic

December 9, 2013

ABSTRACT

Customers now days have a better standard of living then ten or more years ago. That improvement is due to technological innovation. Innovation in technology is the solution to growth and riches in the world. It will allow people to use resources the best way possible and lead people into the future. As we are already able to see right now, technology is moving at a ridiculous rate and is already helping us in so many ways. Being that today’s society is so complex, we need new ideas with exciting solutions for changing realities. This just means that a lot of problems cannot be solved with old thinking so this is where creative innovation comes into play. In this research technological innovation will be discussed. This study will also provide information on technical risks and give facts of innovation in technological throughinnovation and organizational change. This study will prove that technological innovation does have technical risks and will affect innovation and organizational changes.

Technological Innovation

The new technology changes that are brought into an organization are identified as technological innovation. Technological innovation is the powerful establishment for a successful new product. By innovation one may achieve significant advantages over current solutions and overcome competition in a well know market. A new idea or a new practice that resolves a well known problem, or achieves a significant advantage, that was not recognized or not possible, without this idea or procedure. The technological innovation solves a well known and "painful" problem.  It should present disclosure of the developer to an important technological risk. In order to handle this change, then technological innovation has to assist from within. Being able to grasp the understanding of innovation is a very important factor and is effect businesses,...