Entrepreneurship Case

Q1.) How does an entrepreneur differ from an intrapreneur, compare and contrast the two.

A1.) An entrepreneur is a person who wants freedom to work, is goal oriented, self-reliant and self-motivated, where as an intrapreneur is a person who isseeking freedom as well as the access to corporate resources, he is self-motivated but responds to corporate rewards and recognition. Entrepreneurs are people who like to be involved with the work that they are doing on the other hand intrapreneurs will get involved in work but at the same time know when and how to delegate work to others. The primary focus of an entrepreneur is on technology and the market place, but an intrapreneur is focused not only on the market place but also on key stake holders and customers. Both entrepreneurs and intrapreneurs prefer moderate levels of risk and do not like to avoid to much risk to the projects they are working on.

Q2.) What are some of the corporate hurdles which must be overcome in order to establish an intrapreneurial environment?

Q3.) In your own words state what is meant by innovation.

A3.) innovation is to create a uniqueness of any commodity, service, procedure, techniques, skill or work method. To innovate is to do things in a different manner. Innovation is not necessarily bound to the corporate world but can be in the simplest part of life as well. In today's age and date innovation is a crucial part of what we do to make our selves better and the things around us better. Mostly innovation is done to create new opportunities and explore un discovered possibilities. Innovation can be in may forms such as an extention to an existing commodity, and advanced feature, a new type of commodity, a new version of an existing commodity. Innovation is not necessarily just bound to making money but revolves more around the factors of making life simpler or enhancing lives using new, easier and more efficient way of doing things.

Q4.) what are the major components in the creative process?

A4.) there are few components of the creative process as listed below:

* Recognize- to see an opportunity, challenge or problem and to be able to know what exactly is the situation demanding fromyou. To fully understand all the issues and consciously make an effort to solve the problem

* Imagine- it is to apply thinking skills to develop options which will be efficient for the solution. Here new ideas and possibilities are explored in order to reach a conclusion for the solution. Thinking is beyond bounderies and restraints, it is where creativity, insight and novelity come into play.

* Initiate- it is to take a set path towards the solution, here a commitment to an option is made and there is willingness to perform tasks for the execution of work.

* Collaborate- here all the efforts of various involved individuals comes into play and the many resources are used to develop various outcomes to the solution.

* Assessment- it is to evaluate the best solution which is providing the optimal answers for the problem being faced or the opportunity being explored.

* Evaluate- it is to see the results of all the decisions made and being able to judge the success rate of all the collaborative efforts which have been put in.

Q5.) Do creative people have any common chaerchteristics explain.

A5.) yes there are a few common characteristics of creative thinkers, they are:

* Their vision to enable them to see exactly what they want to create.

* They are opportunity oriented, as they look for differnet