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Management
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Topic:

Innovation Research: An Entrepreneurial Venture (Essay Sample)

Instructions:

conduct research and identify a product or service that has taken on the idea of the importance of innovation through entrepreneurial ventures. Explain the product or service and their approach of utilizing innovation in their business strategy.

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An entrepreneurial venture is an approach of providing advisory services to first, troubled as well as Companies that are on their mid-stage of developing. Innovation is seen to contribute positively to the operation of Organizations around the world as it enables to bring about new products, improve the quality of products as well as increase the profit margins of Companies. Innovation depends on the Companies market strategy and the need to produce new products. Consequently, Innovation through entrepreneurial ventures is helpful for Companies that are on their start or experiencing troubles.
The razor products are seen to undergo some innovations which were as a result of ventures. Gillette Company which merged with the P&G Company to enhance the production of quality products to be used in shaving. The double edged razor was among the first products offered by the Company, but due to the needs of the market as well as to ensure customer satisfaction, there have been innovations concerning the shaving products. There has been creativeness regarding the modification of the shaving machines.
Consequently, the introduction of a five-bladed razor in 2006 is viewed as a product innovation for the Company. It increased the number of customers using the product and also the profits of the company. Among the innovation strategies used by the or...
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