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Entrepreneurship


Innovation und Unternehmertum

Team, diversification, strategy, innovation system, culture, and entrepreneurship are the keywords for successful innovation. Entrepreneurship in innovation means mobilizing and bundling valuable, scarce, and costly resources to address opportunities under a high degree of initial uncertainty and risk potential. Whether this happens in an established company or a startup, it can be done by an individual or a team taking responsibility for success/failure. It usually involves founding and managing a new innovation project. It is essential to understand that every innovation endeavor should be viewed as a temporary organization and undertaking without a safety net until the business model is validated, and only then should it transition to execution mode.


A successful team is a balanced and multidisciplinary team where all members contribute their strengths and complement each other.

A team should be actively composed of individuals with different personalities, experiences, and skills based on psychograms, but to be successful, all members must pursue a common vision and pull together (alignment). Diversification and the ability to see customers, their problems, and solutions from different perspectives are crucial elements for a company's success. This also includes discussing problem-solving and solutions from more than one perspective. Only through the consensus of the team can it achieve a common direction.


By combining different new business models and new know-how, innovative products and/or services emerge, allowing a company to reduce its future risks and assert itself against competitors through its innovation strategy. Entrepreneurship is a trait not everyone possesses. It requires courage to pursue an opportunity under a high degree of uncertainty, perseverance, creativity, and above all, passion. Entrepreneurship is not a 9-to-5 job but a way of life. It is the willingness to reduce risks in a new business model through methodology and learning hypotheses in a short time and validate a new scalable business model through pivots when necessary.

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