{"id":46,"date":"2022-07-20T04:49:33","date_gmt":"2022-07-20T04:49:33","guid":{"rendered":"https:\/\/openpub.libraries.rutgers.edu\/artsentrepreneurship\/?post_type=chapter&#038;p=46"},"modified":"2022-08-01T06:43:39","modified_gmt":"2022-08-01T06:43:39","slug":"11-mission","status":"publish","type":"chapter","link":"https:\/\/openpub.libraries.rutgers.edu\/artsentrepreneurship\/chapter\/11-mission\/","title":{"raw":"Innovate","rendered":"Innovate"},"content":{"raw":"<em>Formative question: what does \u201cinnovation\u201d mean to you?<\/em>\r\n\r\n&nbsp;\r\n\r\nAt the heart of the entrepreneurial spirit is <strong>innovation<\/strong>, or the ability to connect the intrinsic value in some idea with market segments that can benefit from that value.\u00a0 Though innovation starts with an idea, it\u2014like many other concepts in business\u2014more generally refers to an ongoing process of ideation, planning, implementation, and evaluation.\u00a0 Good businesses operate around a strong <strong>business model<\/strong>, successful ventures attract support using a codified, thoughtful <strong>business plan<\/strong>, and entrepreneurial artists position themselves in the industry with a strong artist\u2019s <strong>mission statement<\/strong>.\u00a0 But: businesses thrive when they continue to search for new ways to benefit potential consumers through the process of innovation.\r\n\r\n&nbsp;\r\n\r\nAn entrepreneurial venture starts with an idea\u2014and, many failed ventures started with great ideas.\u00a0 Successful innovators, however, treat the process of ideation as more than just thinking about new products or services: a business cannot ultimately be successful unless its products or services are able to connect with market segments that find value in those products or services.\r\n\r\n&nbsp;\r\n\r\nThe ongoing innovation process, then, should continue to evaluate both the strengths of the idea itself and the needs of the market.\u00a0 Innovative, entrepreneurial thinking is often encouraged in successful management pedagogy even within larger corporate structures, both in the context of reevaluating the strategic goals on a broad scale and as part of research and development of new products.","rendered":"<p><em>Formative question: what does \u201cinnovation\u201d mean to you?<\/em><\/p>\n<p>&nbsp;<\/p>\n<p>At the heart of the entrepreneurial spirit is <strong>innovation<\/strong>, or the ability to connect the intrinsic value in some idea with market segments that can benefit from that value.\u00a0 Though innovation starts with an idea, it\u2014like many other concepts in business\u2014more generally refers to an ongoing process of ideation, planning, implementation, and evaluation.\u00a0 Good businesses operate around a strong <strong>business model<\/strong>, successful ventures attract support using a codified, thoughtful <strong>business plan<\/strong>, and entrepreneurial artists position themselves in the industry with a strong artist\u2019s <strong>mission statement<\/strong>.\u00a0 But: businesses thrive when they continue to search for new ways to benefit potential consumers through the process of innovation.<\/p>\n<p>&nbsp;<\/p>\n<p>An entrepreneurial venture starts with an idea\u2014and, many failed ventures started with great ideas.\u00a0 Successful innovators, however, treat the process of ideation as more than just thinking about new products or services: a business cannot ultimately be successful unless its products or services are able to connect with market segments that find value in those products or services.<\/p>\n<p>&nbsp;<\/p>\n<p>The ongoing innovation process, then, should continue to evaluate both the strengths of the idea itself and the needs of the market.\u00a0 Innovative, entrepreneurial thinking is often encouraged in successful management pedagogy even within larger corporate structures, both in the context of reevaluating the strategic goals on a broad scale and as part of research and development of new products.<\/p>\n","protected":false},"author":12,"menu_order":1,"template":"","meta":{"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[48],"contributor":[],"license":[],"class_list":["post-46","chapter","type-chapter","status-publish","hentry","chapter-type-standard"],"part":29,"_links":{"self":[{"href":"https:\/\/openpub.libraries.rutgers.edu\/artsentrepreneurship\/wp-json\/pressbooks\/v2\/chapters\/46","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/openpub.libraries.rutgers.edu\/artsentrepreneurship\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/openpub.libraries.rutgers.edu\/artsentrepreneurship\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/openpub.libraries.rutgers.edu\/artsentrepreneurship\/wp-json\/wp\/v2\/users\/12"}],"version-history":[{"count":3,"href":"https:\/\/openpub.libraries.rutgers.edu\/artsentrepreneurship\/wp-json\/pressbooks\/v2\/chapters\/46\/revisions"}],"predecessor-version":[{"id":71,"href":"https:\/\/openpub.libraries.rutgers.edu\/artsentrepreneurship\/wp-json\/pressbooks\/v2\/chapters\/46\/revisions\/71"}],"part":[{"href":"https:\/\/openpub.libraries.rutgers.edu\/artsentrepreneurship\/wp-json\/pressbooks\/v2\/parts\/29"}],"metadata":[{"href":"https:\/\/openpub.libraries.rutgers.edu\/artsentrepreneurship\/wp-json\/pressbooks\/v2\/chapters\/46\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/openpub.libraries.rutgers.edu\/artsentrepreneurship\/wp-json\/wp\/v2\/media?parent=46"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/openpub.libraries.rutgers.edu\/artsentrepreneurship\/wp-json\/pressbooks\/v2\/chapter-type?post=46"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/openpub.libraries.rutgers.edu\/artsentrepreneurship\/wp-json\/wp\/v2\/contributor?post=46"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/openpub.libraries.rutgers.edu\/artsentrepreneurship\/wp-json\/wp\/v2\/license?post=46"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}