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Running head: INNOVATIONS IN STARTUP BUSINESS
INNOVATION IN STARTUP BUSINESS VENTURES
INNOVATIONS IN STARTUP BUSINESS
Innovation in startup business ventures
The world business environment is increasingly becoming highly competitive. The
competition has become so fierce that organizations that are just starting up are finding it
difficult to have a share in the market. In the face of these strict competitions, firms are under
obligations to have an innovative approach to their business operations. Innovation, as used in
business practices refer to the practice where organizations adopt new creative ways of doing
their business. It involves the creation of new ways of doing the old things differently to achieve
their objectives. In startup enterprises, it is incredibly important for the proprietors to adopt
innovation as a way of pushing through an industry that is already crowded.
The roles of innovation in startup businesses
As indicated in the introduction of the paper, innovation entails the processes of coming
up with new and unique ways of doing things to allow an organization to meet its objectives.
Without the inclusion of innovative practices in the execution of the programs of an
organization, it is difficult for these small enterprises to leap to the next level. Innovation plays a
critical role in the develop...