Technology

The role of innovation for entrepreneurial startup and/or firm growth

Okpara (2007), by elaborating various significant aspects, have illustrated the patterns through which an entrepreneur can utilize such a relationship within the business process from where appreciable share of profitability can be attained. The credential facts elaborated by Okpara (2007) also deciphered the necessity for the entrepreneurs towards the implementation of new and innovative technological tools within their respective business process, failure to which might eventually result in deteriorating their business functionality and affect start-up and/or firm growth. In contrary, Ujwary-Gil (2012) elaborated a different dimension of innovation implementation within small or large-scale business process.
According to Ujwary-Gil (2012), innovation should be used as a tactical aspect within the strategic portion of a business process. From a general perspective, one can perceive about the&nbsp. motives of utilizing innovation as a driving factor of economy as well as business processes and thus, major amount of focus should be laid upon the management perspective rather than just remaining confined to&nbsp. technology aspects. If evaluated from a logical sense, the justifications made by Ujwary-Gil (2012) in terms of reinforcing motives and thoughts can be duly considered as quite appreciable. Moreover, certain specific facts presented by Ujwary-Gil (2012) also illustrated about how entrepreneurial business processes implement innovation in order to develop a unique competitive advantage.

Back To Top