he entrepreneurial process. This initial analysis
will be expanded upon, but here it introduces
the following concepts:
• The organization, typically a private firm, has a
focus that results from its agreed upon strategic
direction. This strategic direction, coupled
with competitive market conditions, generates
an entrepreneurial response.
• The purposive activity associated with the
entrepreneurial response leads to an innovation.
• There are market forces at work that are, in
part, beyond the influence of the firm and
these forces determine the economic value of
the innovation and hence the value added to
the project as well as to the user of the innovation.
There is a subtle distinction between entrepreneurship
or the innovation process and the process
of science and discovery. As noted above, science
moves from starting conditions toward unknown
results whereas the innovation process starts with
an anticipated intended result and moves toward
the unknown starting conditions that will produce
it.