Entrepreneur's Experience in Implementation of Innovation

Abstract

Innovation is a necessity for organizations to ensure survival. However, innovation itself is a big investment and has a high risk. The study explores the practice of innovation based on case studies of entrepreneurs who has experience in implementing innovation in the Small and Medium Enterprises (SMEs). Interviews were conducted on six entrepreneurs. It was found that many entrepreneurs failed in implementing innovation. However, owing to their patience, they succeeded in creating innovation. They have been supported by the government agencies in creating the innovation in SMEs. The study suggests that entrepreneurs to work closely with the related agencies in order to implement innovations and to reduce the risk of failure.