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Entrepreneurial Opportunity — Entrepreneurship STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipEntrepreneurial Opportunity3 Marks
Question
What is innovation? List down the elements of the innovation process.
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Answer

Innovation is bringing out something new. In entrepreneurship, it involves the translation of a useful idea into an application. Elements of the innovation process are as follows:
  1. Analytical planning.
  2. Resource organization.
  3. Implementation.
  4. Commercial application.

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