Explain the interrelationship between innovation and entrepreneurship

Please read the instructions No Plagiarism Please 2 pages

Assignment 1: Innovation, Technology, and Risk 

Due Week 4 and worth 175 points

Write a two to three (2-3) page paper in which the following are addressed:

1. Explain the interrelationship between innovation and entrepreneurship.
2. Compare the risks and benefits of a social-organization as it relates to change and innovation.
3. Speculate how artificial intelligence (AI) and robotics will influence organizations in the next 10 years. Provide specific examples of how this new technology has encouraged new business creation or growth. 
4. Describe at least two (2) risks that new technologies may present to existing industry models and economic systems.
5. Use at least two (2) external sources. 

Your assignment must follow these formatting requirements:

• This course requires use of new Strayer Writing Standards (SWS). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details.

• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow SWS or school-specific format. Check with your professor for any additional instructions.

• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

• Examine the processes of innovation and the fundamental aspects of entrepreneurship that makes change happen.
• Analyze the similarities and differences between the social entrepreneur and the traditional entrepreneur.
• Examine the benefit of sustainability-led innovation and the “greening economy” to improving both the top-line and the bottom-line.  
• Use technology and information resources to research issues in innovation and entrepreneurship.
• Write clearly and concisely about innovation and entrepreneurship using proper writing mechanics.

Dr. Vic’s TIPS!

Write a two to three (2-3) page paper in which you:

1. Explain the interrelationship between innovation and entrepreneurship. (Dr. Vic’s Tips: first start by defining both innovation and entrepreneurship – Chapters 1 and 3 of our book will help along with definitions found within Ch. 1, p. 6 for entrepreneurship and p.p. 10 and 12 for innovation. After you define, and based on info from Ch. 1-4, offer at least three comparisons (observations of each – these do not have to be similarities, rather simply observations [we will use observations as a means to describe “interrelationship” as the assignment asks], for example, ‘both innovation and entrepreneurship involve a great deal of risk and uncertainty, they both represent a vision of what a person what to accomplish – either a new business or a new idea”. Other observations might deal with discussing experience, knowledge, funds, organization, forward-vision, or other elements you can justify. Then discuss at least three differences between both entrepreneurship and innovation).

1. Compare the risks and benefits of a social-organization as it relates to change and innovation. (Dr, Vic’s Tips: within Ch, 2 and starting on p. 58, there is a good discussion on challenges of social innovation and entrepreneurship, use this info from p. 58 to 62 and pay particular attention to both Figures: 2.1 and 2.2, Challenges of Social Entrepreneurship and Innovation respectively. There is also a good discussion on benefits in the section called Why Organizations Do it, on p.p. 55-56).

3.      Speculate how artificial intelligence (AI) and robotics will influence organizations in the next 10 years. Provide specific examples of how this new technology has encouraged new business creation or growth. (Dr. Vic’s Tips, here you might need to conduct example research particularly on AI and the example you need to include. Review Ch. 3 again as you might want to consider arguing that AI and Robotics might increase capacities and product/service value – concepts discussed on p.p. 83-85; but again, please use an external source here. You might want to first define what AI is – this might help you find a good example as well).

1. Describe at least two (2) risks that new technologies may present to existing industry models and economic systems. (Dr. Vic’s Tips:there is a discussion in our book within Ch. 8 on on risk-taking, it is part of an overall discussion on Climate Factors Influencing Innovation – I know… we have not been assigned Ch. 8 yet, but this is where good info is located. Use information from the risk-taking portion for this question. Areas you might want to discuss include elements such as industry ambiguity, decision-making, and or managing ideas and expectations. Also you might want to use info on the connection between innovation and risk).

5.      Use at least two (2) external sources. (Dr. Vic’s Tips:use our textbook, but also use one to two external sources of your choice).