ICTACT Journal on Management Studies

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Role of Innovation and Technology in Entrepreneurship Development


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1 School of Management Sciences, Nalla Narasimha Reddy Education Society’s Group of Institutions, India
     

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The Indian economy is composed of enterprises and businesses. Our economy has survived because of the industry leaders had been able to adapt to the changing times and supplied mostly the market needs. Any small business is integral to the total economy. Without it, our economy would not survive. But a business must also sustain itself, be able to constantly evolve to fulfill the demands of the market and the customers. In every business, it is imperative to be industrious, innovative and resourcefulness. Firms with greater innovativeness will be more successful in responding to changing environments and in developing new capabilities that allow them to achieve better performance. The present study explores ways in which start-up entrepreneurs are creative and innovative. The study also explores the impact of innovation and technology on the business development. Data was collected by means of a combination of in-depth interviews and telephone questionnaires with entrepreneurs who started up an enterprise in Hyderabad between January 2010 and June 2017. The association between innovation and entrepreneurship development has been studied by using suitable statistical techniques. The results are useful to the new entrants to look after the business set-up by the view of innovation and advanced technology.

Keywords

Innovation and Technology, Entrepreneurship, Manufacturing Organization, Service Organization and Market.
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  • Role of Innovation and Technology in Entrepreneurship Development

Abstract Views: 225  |  PDF Views: 0

Authors

M. Narsing Rao
School of Management Sciences, Nalla Narasimha Reddy Education Society’s Group of Institutions, India

Abstract


The Indian economy is composed of enterprises and businesses. Our economy has survived because of the industry leaders had been able to adapt to the changing times and supplied mostly the market needs. Any small business is integral to the total economy. Without it, our economy would not survive. But a business must also sustain itself, be able to constantly evolve to fulfill the demands of the market and the customers. In every business, it is imperative to be industrious, innovative and resourcefulness. Firms with greater innovativeness will be more successful in responding to changing environments and in developing new capabilities that allow them to achieve better performance. The present study explores ways in which start-up entrepreneurs are creative and innovative. The study also explores the impact of innovation and technology on the business development. Data was collected by means of a combination of in-depth interviews and telephone questionnaires with entrepreneurs who started up an enterprise in Hyderabad between January 2010 and June 2017. The association between innovation and entrepreneurship development has been studied by using suitable statistical techniques. The results are useful to the new entrants to look after the business set-up by the view of innovation and advanced technology.

Keywords


Innovation and Technology, Entrepreneurship, Manufacturing Organization, Service Organization and Market.

References