What Have I Learned during the Entrepreneurship Programme and How Can Essay

What Have I Learned during the Entrepreneurship Programme and How Can I Apply this in My Future Career - Essay Example 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 a 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 (Mor en, 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 apprec iable extent.