Innovative vs. Traditional Business Approaches: A Choice Analysis

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Business as usual or innovative/creative Business, which one would you prefer?

The better we can communicate as human beings, the better we can know and the better we can explore our self and learn different culture, behaviors, way of life and with this helps us to grow a good relationship with other people anywhere in the world. The process of being a better businessman means starting on a journey to learn about how to present ideas or innovative work through your performances and your creative work. (Eleri Sampson 2004)
I don’t like to do jobs. So, I want to be an Entrepreneur and for that I like to do business. My business would be a sole proprietorship business and I like to choose innovative/ creative way. First, for creating that business I have to find out some issues like what is sole proprietorship? What is mean by …show more content…

Innovation is revealed by its Latin root, nova, or new. It is called as the introduction of a new thing or method. (Managing creativity and innovation 2003) MIT professor ED Roberts once defined innovation as invention plus exploitation. Here is a more elaborate definition: “innovation is the embodiment, combination, or synthesis of knowledge in original, relevant, valued new products, process or services.” (Managing creativity and innovation 2003) there are two types of innovation one is incremental and the other is Radical. Incremental innovation is generally exploited existing from or technology to serve some other purposes for example, Intel’s Pentium IV computer chip represents an incremental innovation over its immediate predecessor. On the other hand, radical innovation is something new to the world and a departure from existing technology or methods. Break through innovation and discontinuous innovations are often used as synonyms for radical innovation. (Managing creativity and innovation

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