difference btw innovation and creativity
An imitative entrepreneur adopts the methods and technologies of the inoovative entrepreneurs.These are mostly found in developing countries.. On the other hand,drone entrepreneurs believe in traditional methods of production and are less likely to adopt new technologies.
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Innovative products are unique and original, offering new features or technologies not seen before. Imitative products, on the other hand, replicate existing products with little to no differentiation, often aiming to capitalize on the success of others. Innovative products typically drive market evolution, while imitative products may struggle to stand out in a crowded market.
They are designed for stable environments while organic structures are better suited for changing and innovative environments.
An imitative entrepreneur adopts the methods and technologies of the inoovative entrepreneurs.These are mostly found in developing countries.. On the other hand,drone entrepreneurs believe in traditional methods of production and are less likely to adopt new technologies.
Functional products are staples that people buy in a wide range of retail outlets. Typically, they do not change much over time, have low profit margins, stable predictable demand and long life cycles. Innovative products, on the other hand, give customers additional reasons to buy. Fashionable clothes and personal computers are examples of innovative products. Innovative products have short life cycles, high profit margins, and volatile demand.
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Being innovative involves improving or enhancing existing ideas, products, or processes, while being inventive involves creating entirely new ideas, products, or processes from scratch. Innovation builds upon existing knowledge, while invention involves creating something entirely new.
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