An Exposition on the Impact of Technological Encroachment and Innovations on Entrepreneurship in an Organisation
With the progression of Industrial Revolution, the world has experienced an unprecedented
rise in economic growth that has been stimulated by innovation, technology and
entrepreneurship. It is well said that Innovation leads to Technology that leads to many
opportunities for the Entrepreneur. Technological advancement and innovations in the
stipulation of contemporary economy based on knowledge are important factors that
stimulate the development of organisations.Entrepreneurship can occur in a business of
any size or age because, at heart, it has to do with a certain kind of innovated activity which
resumes into the disciplined effort to improve a business's potential. Most innovations and
technological encroachment result from a conscious, purposeful search for opportunities
within the company and the industry as well as the larger social and intellectual environment.
A successful technological advancements and innovations may arise from pulling together
different strands of knowledge, recognizing an underlying theme in public perception, or
extracting new insights from failure. The focus is to know where to look and what to
opt.The paper will emphasize on a meticulous literature review from a comprehensive
standpoint in orderto determinecritical factors that affect technological encroachment and
entrepreneurial innovation in an organization.The study also aims to identify the impact of
these factors on entrepreneurship in an organisation.This is a qualitative research and the
study is based on the Secondary Data collected from different sources.. The contribution of
this study will help the organisations to better understand the quintessence and signifi cance
of Technological advancements and innovations in contemporary business environment.
Keywords: Technological Encroachment, Innovations, Entrepreneurship, Economic Growth.