Why Joseph Schumpeter describes entrepreneurs as innovators?

A.VERIFIED ANSWERfact-checked by tutors

Joseph Schumpeter describes entrepreneurs as innovators as they combine the new products and services and apply innovation to produce better ideas and services.

Suggested Q&A

GENERAL · CLASS 10

GeneralCLASS 10
Explain the role of an entrepreneur as an innovator and job and wealth generator.
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The spirit of entrepreneurship helps an individual to grow. Explain this statement in detail.
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Explain the process of entrepreneurship in detail.
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Explain the role of entrepreneur as described by Peter Drucker.
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How does Jean Baptiste Say envisage the role of the entrepreneur?
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According to a famous thinker Peter Drucker, innovation is a specific instrument of an entrepreneur. Hence he believes that an effective entrepreneur converts a source into a resource. When is a source converted into a resource? Explain with the help if an example.