Entrepreneurship & Innovation

Essay by greentree September 2006

download word file, 8 pages 4.2 1 reviews

1.0 Introduction:

The Global Entrepreneurship Monitor 1999 defined entrepreneurship as "any attempt at new business or new venture creation, such as self-employment, a new business organization, or the

expansion of an existing business, by an individual, a team of individuals, or an established business."

Entrepreneurship is a major contributing factor to the economic well-being of a country both in terms of economic growth and job creation. Traditionally, entrepreneurial ability tended to focus on the following four attributes

Initiative - the entrepreneur takes the initiative to bring together the economic resources of land, labor and capital to produce a commodity (whether a good or a service) with the hope that such production will create a profitable business venture.

Decision-making - the entrepreneur makes the basic business policy decisions for the business, thereby setting the course of the enterprise.

Innovation - the entrepreneur is an innovator, attempting to introduce new products and new ways of doing things.

Risk-taker - the entrepreneur risks his or her time, effort, business reputation and invested funds in the entrepreneurial venture.

So the main idea is that entrepreneur focus on is innovation,

At this paper I will concentrate on what's is the entrepreneur organization then I will talk about Saudi Aramco Medical organization (SAMSO) as a case study and evaluate their innovation culture and what recommendations that can be used to remover barriers..

2.0 What is the Entrepreneur and Innovative Organization?

The Entrepreneur organization is the organization that support innovation

' Enterprenship is a process that takes places in different environment and setting which causes changes in the economic system through innovation brought about by individuals who generate or respond to economic opportunities that create value for both those individuals and society' Muzyka (1995)

So it's the organization that from beginning strategy designed to open the door...