Entrepreneurship + Innovation = Entreprovation = Facebook

Entrepreneurship drives innovation and innovation fuels entrepreneurship. Like two sides of a coin they look self-contradictory but cannot be separated from one another without destroying value of the said coin. World has seen great entrepreneurs and so also ingenious innovators. Sometimes it was one person acting in both these roles. In some cases there were two (or more) different persons (people) of whom one had entrepreneurial spirit and other acted as innovator of the business. One quality devoid of other leads to frustration in due course of time.

In fact what is needed is ‘Entrepovation’ i.e. capability to think innovative and act entrepreneurial. What it entails is to re-orient existing form of business with break through ideas and at the same time garner resources to operate a successful business plan. I can think of ‘Facebook’ as an excellent example of Entrepovation. Mark Zukerberg and his team converted the social media platform into an interactive lively medium and worked their way through an uphill entrepreneurial journey. Without later former would have remained more or less a bright technique of communication between students across dorms. A brainy technique that would have remained confined to an university campus. They changed the way our world looks at social media. They made us so much ‘connected’. Entrepovation created an iconic organisation which to this date values both entrepreneurship and innovation equally.

Author: anilkshatriyablog

I work as Assistant Professor in the area of Accounting at IMT Nagpur. I love teaching, writing and cycling. I follow a simple principle, 'Help ever, hurt never'.

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