INNOVATION & ENTREPRENEURSHIP

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Entrepreneurship is an idea that provides a capacity to develop a business initiative by resolving every possible risk factor. The concept is based on an idea of venturing a business with each potential risks of market. An entrepreneur needs to be eligible to take risks and needs to make innovation in business field. Risk taking is an important part to perform in order to make a profit. The Ecostore has also brought innovation in its business strategy by making eco-friendly products.Scott and Venkataraman’s (2000) framework can be applied in business entrepreneurship to launch innovative ideas.  The Ecostore has also applied the framework to bring profit in entrepreneurship. According to Scott and Venkataraman’s (2000) framework, one needs to discover innovation that can serve the customer and bring success to any entrepreneurship. The Ecostore has discoveredrecycling plastic and has introduced Fairground Foundation for healthy living.

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