Schumpeter And Opie Research Paper
The core of entrepreneurial is innovation
Based on the definition, entrepreneur is the person who sees an opportunity or gets an idea, would like to take advantage of that opportunity or idea to start a business. As a company, it is necessary to meet the demand of customers, when it comes out a new product or services. Once customers can get new thing from this company, they will change buying habit from don’t to do, or from less to more. Moreover, people would like to pay more to buy this company’s product.
The core of the entrepreneurial is innovation. …show more content…
The reason why capitalism is full of vitality is the existence of innovators. Entrepreneurs are people who are engaged in "creative destruction (creative-destruction)". One of the biggest hidden dangers of the enterprise is the disappearance of the spirit of innovation. Hunan Taizinai Group is an example of what will happen when a company stop to innovation. In the past, Hunan Taizinai Group Company was the largest group which make ferment lactobacillus milk drink. However, Hunan Taizinai Group was bankruptcy in 2010, since it stood still and refused to make progress. An enterprise will either value added, or scrapped. Therefore, innovation must become the instinct of the entrepreneur. However, innovation is not the "flash of genius". It is the results of the hard work of entrepreneurs. In the textbook “Small Business Management: Entrepreneurship and Beyond” (Hatten, 2011) pointed out five typical characteristics of entrepreneur, the first thing is innovation. That included product innovation, technological innovation, market innovation, and organization innovation, and etc. For entrepreneur, innovation is not “do the same thing in better way”. It refers to “do different thing”. From certain angles, an entrepreneur, who have innovative spirit, is more like a passionate artist. For example, Sony’s founders Akio Morita and Ibuka, the great entrepreneurs, create the greatest "product" is not …show more content…
Geely gets the chance to send employees out for training, including orientation training, joint training, and etc.; from technology perspective, Geely cooperate with Germany, Italy, Korea, Japan, the United States and other professional and technical companies; from capital perspective, Geely combines global financing, and flexible and comprehensive portfolio; from production sides, Geely jointed lease special permission; from land perspective, Geely acquire a lot of existing developed land through market methods; from components perspective, Geely fully use existing community resources, joint development and preferential procurement.
Innovation cannot be carried out in self-enclosed environment. Innovation must be in an open world and then boldly expand the “new combination.” Based on the current basic worldly automobile industry trend, and the actual situation of Geely Automobiles, it entered the World Top 500 in July 2012 with total revenue of 17.985 billion euros (150 billion yuan), became the only Chinese private car enterprises in this