Entrepreneurial Innovations Research Paper Example | Topics and Well Written Essays - 750 words

Entrepreneurial Innovations - Research Paper Example In addition, the wide-ranging availability of the Internet for performing business-related tasks of the businesses, sellers, and buyers is the primary reason behind the development of electronic commerce (or simply e-commerce). Actually, â€Å"electronic commerce is the method of selling and purchasing services and goods and products performed electronically by means of computerized business transactions over the Internet, networks, and other digital technologies† (Laudon & Laudon, 1999, p. 25; Stair & Reynolds, 2003, p. 19). There are different kinds of innovations in the context of IT, which can be implemented by an organization to upgrade their business processes. For instance, an organization can automate their business process, implement an e-commerce portal or use the Internet for marketing strategies and so on. Innovation in the context of organizational change also plays a significant function in the business organizations. No matter, whether a business organization is going to formulate or launch a new product, or going to introduce a new service, or going to invent and put into practice a technological invention that can change the business processes or a new management tool or technique, innovation, and organizational change helps the business organization develop and put into operation a business strategy and infrastructure. In fact, many business organizations invest a higher proportion of their finances in forming and implementing an innovation strategy than others.