Entrepreneurship and the Innovation System

Innovation generally refers to renewing, changing or creating more effective processes, products or ways of doing things. Innovation in your business means doing something new, different, smarter or better that will make a positive difference. Innovation can be a catalyst for the growth and success of your business, and help you adapt and grow in the marketplace.

Being innovative does not mean inventing; innovation can mean changing your business model and adapting to changes in your environment to deliver better products or services. Successful innovation should be an in-built part of your business strategy and the strategic vision, where you create an environment and lead in innovative thinking and creative problem solving

Sustainability
Sustainability defines how countries can meet the needs of their people today without compromising those of future genrations. It has been a guiding priniple for world economic development.

Sustainability is now seen as a key issue in business…
“In the future, only companies that make sustainability a goal will achieve competitive advantage. That means rethinking business models as well as products, technologies, and processes.”

Where business and innovation meets?
Business and Sustainability is a concept that says businesses can function and earn a profit while at the same time minimizing or eliminating any negative impact on the environment from its operations. Businesses that put this concept into effect are considered green businesses. Sustainable (green) businesses provide environmentally friendly products and services that are alternatives to non-green products and services and have a lasting commitment to environmental principles while continuing to earn a profit. Green businesses must implement eco-strategies that lead to being green and profitable simultaneously. This is a gradual and ongoing process for most companies, requiring: innovation and technology; collaboration; continuous process