International Journal of Commerce and Management Research

Authors
Dr. YT Pawar

Abstract
Over the past decade, the entrepreneurship domain has been considered expanding the areas of corporate entrepreneurship, macro environmental linkages, international entrepreneurship and career alternatives. There was an emerging fragmentation of the field and lack of integration and cultivation of distinctive research routes, and entrepreneurship studies were suffering from content issues, non-rigorous statistical applications, and lack of practical significance. Research in entrepreneurship is exceedingly difficult to do well because of the complex nature of the field. Entrepreneurial activity stems from an imbalance between the potentiality of something new and its realization particularly creating an exploited opportunity where none existed previously, by one or more individuals. Another way of viewing entrepreneurship is to recognize that entrepreneurship is enabled by the existence of something new (innovation) which may have been developed by new ways of looking at old problems (creativity), bringing capability to respond to new or emerging external conditions (environmental change), when championed by one or more invested individuals (the innovator).The change in condition, process, outcome, or relationship which results from the innovation process itself may be either incremental or radical. Incremental changes can result in dramatic changes while radical or revolutionary kinds of innovations can discontinue other innovations. Radical innovations and their exploitation are defined as classically entrepreneurial events.