Write a 13 page essay on Title: What have I learned during the programme and how can I apply this in my future career A critical reflection. entre.Download file to see previous pages... They can neith

Write a 13 page essay on Title: What have I learned during the programme and how can I apply this in my future career A critical reflection. entre.

They can neither restrict their modernization and innovation to one single path to market. This results in the removal of traditional model of innovation in which people focused more internally within the organization and close all doors for outside environment, technologies and ideas, this is now becoming obsolete. Since this traditional model is getting obsolete a new concept or paradigm has taken its place which is known as open innovation. This approach strategically leverages all sources whether internal or external to share their ideas and then with the use of various multiple paths the ideas are floated in the market. The path-breaking study is basically based on broad field research, some work experience and academic study (Chesbrough, 2003). There are many well known companies who have adopted this approach and got facilitated from it. This open innovation is creating great opportunity for all the entrepreneurs so that they can learn through their experience and apply all those profit making strategies in their own business so that they can expand their business and acquire maximum profit. This also led to the enhancement of entrepreneurship since it shows how one man can contribute to the industry and how one individual can show creativity on their own. Open Innovation basically show how organizations can utilize the business model in order to identify a more distinguished role of research and development in the world containing abundant information, make advancement in their existing business, enhanced management and access of intellectual property, and develop their business for future (Moren, 2010). Companies belongs to different industries must transform in a way similar to the one in which they have commercialize knowledge, and with this open innovation, entrepreneurs can unfasten the hidden economic value with respect to ideas as well as technologies. Who an entrepreneur is? An entrepreneur is actually a person who expands or creates new ideas while taking the risk of establishing a new enterprise in order to produce products and services which satisfy the need of the customers.(Pett, 2006). Every entrepreneur is a business person however. every business persons are not at all entrepreneurs. Let take a look at why every business person cannot be or are not an entrepreneur. Take an example from our daily life, an old woman who sits near your home and sells the same kind of food with same taste and quantity, even the quality remains the same. Her so called stall remains unchanged which does not at all bring any change in her living standard not even for some appreciable extent. This woman might be termed as business person but she will not be called an entrepreneur. On the other hand an entrepreneur is a businessman who is never satisfied with their performance which led him towards searching new and better ways of improvement and growth. Entrepreneurs should complete their homework before coming in the market they must have better understanding about their products and their competitors.