ROLE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT

1. INCREASING PER CAPITA OUTPUT AND INCOME

2. PRODUCT EVOLUTION IMPROVMENT OR CREATE

NEW PRODUCT, INNOVATIONS

ITERATIVE SYNTHESIS : INTERSECTION OF

KNOWLEDGE AND A RECOGNIZED SOCIAL NEED.

- ORDINARY INNOVATIOS

- TECHNOLOGICAL INNOVATIONS

- BREAKTHROUGH INNOVATIONS

3. CREATE NEW MARKET

4. JOB CREATION

5. SOCIETY WALFARE

Entrepreneur mindset: Effectuate, Cognitive Adaptability, Learning from Business Failure