Encyclopedia of Creativity, Invention, Innovation and Entrepreneurship

2013 Edition
| Editors: Elias G. Carayannis

Product Development, Business Concept, and Entrepreneurship

  • Laure Morel
  • Mauricio Camargo
  • Vincent Boly
Reference work entry
DOI: https://doi.org/10.1007/978-1-4614-3858-8_464

Synonyms

 Business model;  Idea generation;  Opportunity;  Product development

Nowadays, fierce competition and industry relocation toward developing countries, entrepreneurship, and innovation are widely recognized as key factors in competitiveness. The shortening of the product life cycle (products and services), the need to differentiate from competitors and reduce manufacturing costs, and effective logistics and marketing are all reasons to create and develop innovations to meet these challenges. For many countries, the private sector and entrepreneurship have been a powerful engine of economic growth and wealth creation. The formation of new businesses leads to job creation and has a multiplying effect on the economy. Socially, entrepreneurship empowers citizens, generates innovation, and changes mindsets. To that effect, studying the processes that lead an entrepreneur to look for new business concepts and then new product development processes is central to the innovation...

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Copyright information

© Springer Science+Business Media LLC 2013

Authors and Affiliations

  1. 1.ERPIUniversity of LorraineNancyFrance
  2. 2.Equipe de recherche sur les processus innovatifs (ERPI)Université de LorraineNancyFrance