What is innovation and what is entrepreneurship? Who are entrepreneurs? What is the relationship between entrepreneurship and entrepreneurs?

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What is innovation and what is entrepreneurship? Who are entrepreneurs? What is the relationship between entrepreneurship and entrepreneurs?

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What is innovation and what is entrepreneurship? Who are entrepreneurs? What is the relationship between entrepreneurship and entrepreneurs?

Answer & Explanation (1)

Explanation
Innovation is defined as the creation, development, and implementation of a new product, process, or service with aim of effectiveness. However, entrepreneurship is an act of creating a business or business as building it to generate more profit. Moreover, entrepreneurs are defined as persons who create business or businesses, manage, or control, and bears all risks of the enterprises but with the hope of making a profit. Thus, a relationship means that how two or more things are connected. The relationship between entrepreneurship and entrepreneurs is that an entrepreneur of the person who locates the need of society and tries it to meet the same innovative idea. On the other side, an entrepreneur creates entrepreneurship where it is the process of establishing a business entity to make a profit as a reward in the future.

Answer
Innovation is defined as the creation, development, and implementation of a new product, process, or service with aim of effectiveness. However, entrepreneurship is an act of creating a business or business as building it to generate more profit. Moreover, entrepreneurs are defined as persons who create business or businesses, manage, or control, and bears all risks of the enterprises but with the hope of making a profit. Thus, a relationship means that how two or more things are connected. The relationship between entrepreneurship and entrepreneurs is that an entrepreneur of the person who locates the need of society and tries it to meet the same innovative idea. On the other side, an entrepreneur creates entrepreneurship where it is the process of establishing a business entity to make a profit as a reward in the future.

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