There are many entrepreneurs who come together as an organization and build an entrepreneurial culture to seek opportunities for innovations. An entrepreneurial culture is an environment where entrepreneurs are inspired to create new innovations. Innovation is basically to have a new idea, to change something from the old and make it new. The way people interact with one another and recognize their environment is all a part of a culture. In a business industry setting, entrepreneurial cultures are defined as the business owners getting together to inspire each other to brainstorm new ideas/ products, innovations. There are many companies out there that exemplify innovation. One that comes to mind and I believe everyone can agree is Apple Inc. Apple is known for their cell phones, however they are always improving. How many new phones have they come out with in just the last 2 years? They have phones with different data storage, different sizes, and they are always adding new ways to appease the consumer. But why is innovation important? I have listed a few examples stating why entrepreneurial organizations seek out probabilities for new innovation.
One reason these entrepreneurial organizations seek opportunities for innovation is to offer their consumers new products/services. Their development of new products and approaches sharpens the industry which is in the long run is valuable to the consumer. New products and services are the essence of all businesses. This is crucial to business growth and profitability. No business can carry selling the same original/old product, without making adjustments. Without any changes to product sales would drop and profits will diminish, consumers always "need and want" endless changes. Business owners must respond to the ever need of change through their goods and services. Consumers will switch to a competitor’s product