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Entrepreneurial Opportunity — Entrepreneurship STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipEntrepreneurial Opportunity3 Marks
Question
Give the meaning of 'Innovation.' State the elements in the innovation process.
✓

Answer

Innovation is the process of entrepreneurship which involves the translation of a useful idea into an application which has commercial value.
Elements:
  1. Analytical planning.
  2. Organising resources.
  3. Implementation.
  4. Commercial application.

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