Connecting Entrepreneurs with Innovation

In today’s dynamic economy, where change is slow, sudden or extensive — businesses operate, survive, and progress. One of the crucial forces of change is the change in innovation and technology. These changes are often used in order to enhance entrepreneurial capabilities in achieving the desired goal. An Entrepreneur works to forecast these future changes and creates an innovative environment in the organization.

Innovative technological advancements do occur, and it takes nerve for an entrepreneur to accept the change and its implication. This is an ongoing process in which the entrepreneur sets his/her goals and strategies to pose several alternatives when it comes to manufacturing these products. Entrepreneur encourages employees to use these innovations as it helps to build a strong trust amongst the internal management of the company. Breakthroughs like AI, Blockchain, Cloud Computing, IoT, 3D printing, have encouraged entrepreneurs to use in every field to grow their businesses.

So let’s take a clear look at the connection between Entrepreneurship and Innovation:

Retail- Innovation allows entrepreneurs to be available, interacting with customers how, where, and when they are ready to shop. Entrepreneurs depend on innovation to manage inventory, track customer-purchasing habits, visualize trends, and deliver goods & services. Wireless communication, QR codes, and Augmented Reality are some of the innovative changes to the retail industry.

Communication- In virtual workplaces, employees interact and develop by connecting through video conferencing. This includes training and important meetings from distant places to employees. Innovative technologies are also used to get real-time feedback from the employees, which eventually allow the entrepreneur to improve the needs of the employees.

Cloud Computing- Cloud Computing is very cost-effective and convenient to the company management, and employees can access data from anywhere by just using a device that has access to the internet. It helps entrepreneurs to store business information and has been accepted by many in the world of business.

Cyber-Security- It becomes crucial to protect the online business from cyber-criminals who could steal data or lead to website downtime. Encryption and decryption protect information from being accessed by any third party or cyber-criminals.

Automation- CAD/CAM innovative technologies have been applied in many industries, even banking and financial institutions have embraced automation in financial transactions.

Hence, entrepreneurship and innovation go hand in hand by creating a connection with all the stages of management that brings the desired output. So, with great enthusiasm, CIO Look has shortlisted, “Elite League of Innovative Entrepreneurs, 2019” that encourages the entrepreneurs keeping their spirit alive.

Featuring our Cover Story is Brad Sugars, the Founder and CEO of ActionCOACH®, pioneered the industry of business coaching through hard work, determination, and a well-organized and systemized approach that generates profits for the businesses his team works with. Through his book, ‘Pulling Profits Out of a Hat,’ he has created a handbook for adding zeroes to anyone’s bottom line.

Author's Bio: 

CIO Look is Global business authority platform where you can explore the perspective of Entrepreneurs, business owners, and innovators who drive business around the globe.