Relationship Between Entrepreneurship and Innovation Essay

Relationship Between Entrepreneurship and Innovation - Essay Example The present research has identified that entrepreneurship is the act of taking a risk to offer at a fee for a product or a service to the market in order to make an income. The process of entrepreneurship involves identification of a problem and formulation of a workable solution to counter the problem. Innovation is the means by which something is conducted in a unique manner or differently. The two concepts are much related to entrepreneurs rely on innovation as a tool to help him provide a product or a service in the market. Innovation might employ the use of technology that entrepreneurs exploit to offer what they have to sell to the community. In the process of conducting a business as an entrepreneur challenges arise in each step of the way. Innovation helps entrepreneurs solve such challenges in a clever way that helps them stay afloat. Entrepreneurs calculate a risk and minimize it using innovations. The tool is applied in adapting to new market trends where the most innovati ve entrepreneur always remains relevant in the business even after the introduction of new products into the market. There is a more direct relationship between innovation and the performance of an individual or an organization considering them in an entrepreneurial context. The quality of service delivery and products are directly linked to the two subjects under discussion. When there is innovation, the individual or organization experiences a competitive advantage over his peers in the industry. It is easier for an organization to take informed steps and well-calculated risks with the application of innovation as a tool in delivering a product or a service. When the two relationships are good on an organizational or individual basis there are increased benefits from an increased market share, ROI (return on investment), new products, fast-mover advantage on products and the overall firm success.

Description Essay Example | Topics and Well Written Essays - 750 words - 1

Description - Essay Example However, bees are the most prevalent or common because these can be breed (raised and propagated in artificial hives) and perform the pollination function much more efficiently compared to other insects, animals, or so-called carriers of pollen or termed as vectors. Bees are very important to human survival, because without them, pollination cannot take place and many products in agriculture, such as fruits and vegetables, will not be available if not for the bees. However, it is also alarming that bees themselves are under serious environmental threats. It is estimated some $40 billion to $50 billion worth of agricultural products are due to the pollination activities of these bees (Abrol 762). Bees are very crucial for survival of the human species. Discussion Besides pollination, bees are also well known for their honey. I remember when I was still a young kid, my mom used to make me eat honey at breakfast. I can still very vividly recall its sweet taste in my mouth; among the sug ars available from Mother Nature, it is honey that has most health (anti-bacterial) beneficial effects. People today are more health conscious as compared to earlier generations; honey as a natural sweetener is much better to the artificial sweeteners in the supermarkets today (Chepulis 37); whenever I see honey, I remember bees. Since ancient times, honey has been considered to have medicinal properties, but it is only now, with the use of modern science, that its chemical composition has been analyzed to know what makes honey a powerful tonic, and even as an aphrodisiac. Science has confirmed the firm belief of the people in antiquity that honey contains many of the elements essential for good health, among them anti-oxidants amino acids, vitamins, and minerals (Sharma 14). One can eat plenty of honey without getting the ailments associated with sugars or sweets such as diabetes, heart diseases, hypertension, atherosclerosis, and vascular diseases. I was walking home one day when I heard a persistent buzzing sound. At first, I did not know immediately what it was; I had originally thought I just imagined hearing the sound, a buzzing sound in my ears, because there is something wrong with my hearing. Only later on did I realize a big bee was buzzing and flitting from flower to flower in our home garden. This garden has been planted with a variety of flowers, and the bee made great use of the spring. It flew among the red flowers, sipping the nectar of each bud and seemed tremendously happy. What a sight it was! A bee is very graceful when flying; its wings beat at 190-250 times per second! (Micucci 28). This frequency can be compared with the wing beats of a butterfly (4-20 times per second, while the fly beats its wings at 1,000 times a second). A honey bee actually has two pairs of wings, and its wings are so small compared to its body weight, it is defying both the laws of gravity and aerodynamics because of so much energy from honey! Honey bees are one of the most useful insects in the world, and it is difficult to have a good harvest without them pollinating all the flowers of the fruits and vegetables. The apple is an example, without bees pollinating their blossoms, no apple can be produced. Further, a lot of people may not know it, but bees also make beeswax used for making candles (during earlier times when electricity was not yet harnessed to produce lighting); candles made from beeswax have a higher