Is ChatGPT better than us at generating product ideas?

Researchers from the Wharton School at the University of Pennsylvania conducted an experiment to determine if ChatGPT can generate better product ideas and do so more quickly than Master of Business Administration (MBA) students. Large language models (LLMs), like OpenAI’s GPT series, have demonstrated remarkable capabilities in generating coherent and fluent text across various domains. … Read more

Social Innovation: Definition, Characteristics, and Examples

In a rapidly evolving world, where social issues demand innovative solutions, the focus on ‘social innovation’ has taken center stage. Social innovation (SI) has always existed; however, today, initiatives are multiplying as they respond to the myriad challenges society faces. In recent years, social innovations have been garnering increasing interest from policymakers, non-governmental organizations, companies, … Read more

Frugal Innovation: Definition, Principles, Characteristics, and Examples

Perhaps as an entrepreneur, you have felt constrained by the lack of resources to innovate, or you may be thinking that this matter of innovation is only for medium and large companies that have resources. I regret to inform you that you are completely mistaken. Today, I’m going to talk to you about frugal innovation, … Read more

Business innovation strategies to gain a competitive advantage

In the fast-paced and ever-evolving current business landscape, innovation is the key to staying ahead of the competition. To revolutionize your business and gain a competitive edge, you must adopt the best innovation strategies that drive growth, increase profitability, and elevate your brand to new heights. In this dynamic digital era, where change is the … Read more

Entrepreneurship as Engines of Economic Growth

Surely, you have frequently come across calls for entrepreneurship financing competitions, or if you prefer more modern terms, the creation of ‘Startups.’ If you’re thinking about becoming an entrepreneur, you’ve come to the right place to learn some fundamental concepts in this field. In today’s dynamic and competitive business landscape, the term ‘entrepreneurship’ or ‘entrepreneurial … Read more

The startups accelerators can catapult your business to success

Are you an ambitious entrepreneur seeking to take your business to new heights? In today’s fast-paced and competitive business landscape, it is essential to find innovative ways to stand out from the crowd. That’s where a Startup Accelerator comes into play. Accelerator programs, as a distinct form of innovation intermediary (Crișan et al., 2021), have … Read more

What is innovation?

I assure you that in recent years, you have been hearing the word ‘innovation’ more frequently, whether in product or service advertisements, in courses, seminars, or workshops, or perhaps from a friend or colleague. We can say that ‘innovation’ is in vogue. However, what is innovation? In this article, we want to answer that question … Read more