Innovation and Entrepreneurship

Innovation and entrepreneurship are two closely related words used in the business world. Some may think they mean the same, but using them interchangeably would be making a big mistake. While they revolve around the same idea, it is crucial to understand the difference.

Innovation is applying your creativity to come up with a unique idea or solution. It is technological invention, which lets parts do what they could not previously do. You have an engine, wheels and axles and you put them together to invent a car. Progress depends on innovation and great innovators can get rich.

Entrepreneurship, by contrast, is applying the innovation to bring the ideas to life. It is social invention, which lets people do what they could not previously do. Entrepreneurs grasp the opportunity to cash in on the innovation. They build businesses and propel the innovation forward. Progress depends on entrepreneurship and great entrepreneurs get even richer than great innovators.


Duration: 3 days
Mode: Classroom / Online
Deliverables: CourseWare Hard/ Soft Copies

Course Contents

Introduction: The Entrepreneur 
Definition 
Characteristics of Successful entrepreneur
Similarities and Distinguish between Entrepreneur and Intrapreneur.

Innovation in Business: Types of Innovation 
Creating and Identifying Opportunities for Innovation 
The Technological Innovation Process 
Innovation and Intrapreneurship 
Licensing 
Exercises/Case Studies

Patent Rights 
New Venture Creation
Identifying Opportunities for New Venture Creation: 
Environment Scanning 

Generation of New Ideas for Products and Services
Feasibility Analysis
Technical Feasibility of Products and Services 
Marketing Feasibility
Exercises/Case Studies

Marketing Methods 
Pricing Policy and Distribution Channels
Business Plan Preparation
Benefits of a Business Plan

Elements of the Business Plan
Developing a Business Plan 
Guidelines for preparing a Business Plan 
Format and Presentation
Exercises/Case Studies

Financing the New Venture
Capital structure and working capital Management
Financial appraisal of new project
Role of Banks 

Credit appraisal by banks
Institutional Finance to Small Industries 
Incentives 
Institutional Arrangement and Encouragement of Entrepreneurship
Exercises/Case Studies

Conclusion and Feedback

Why choose us


At the Institute of Corporate Analytics and Training, we have trained over 5000 professionals on a wide range of corporate and management trainings from many organizations and companies, from diverse domains,  around the world.  We have a team of highly motivated and experienced team of trainers.  Our trainings are designed to blend theoretical concepts with field experience.  The concepts and techniques you will learn will be illustrated with case studies from the field, role plays and simulations.


Rest assured that at the end of the training programs, you will emerge confident and energized armed with skills and knowledge as well as the techniques of applying them.