ENTREPRENEURSHIP AND INNOVATION THEORY, PRACTICE, AND ETHICS

Entrepreneurship and innovation have emerged as defining forces of the twenty-first-century global
economy. In an era characterized by rapid technological disruptions, shifting consumer expectations,
and the continual reconfiguration of markets, understanding these forces is no longer optional—it is
essential. This book has been conceived as a comprehensive, conceptually rigorous, and pedagogically
grounded text to support learners, educators, and practitioners in navigating the evolving landscape of
entrepreneurial thought and practice.
The chapters in this volume span the foundational to the frontier. Beginning with the conceptual roots
of entrepreneurship and innovation, the book progressively unfolds into sophisticated theories, models,
and real-world applications that shape contemporary entrepreneurial ecosystems. The content traverses
classical, neo-classical, and modern economic perspectives; Schumpeterian innovation dynamics;
effectuation and Lean Startup approaches; and emerging paradigms of digital transformation,
sustainability, and social entrepreneurship. Each unit has been carefully structured to provide clarity,
contextual depth, and analytical precision, supported by learning objectives, outcomes, and reflective
exercises that strengthen comprehension and application.
This text is deeply informed by the collective academic experience, research engagement, and industry
exposure of its authors. Drawing on interdisciplinary insights and empirical realities, it places equal
emphasis on theory and practice, ensuring that readers not only understand the evolution of
entrepreneurial ideas but also gain the analytical tools to apply them in diverse environments. Our
intention is to facilitate a holistic understanding—one that equips students to become opportunityseekers, innovators, problem-solvers, and ethically responsible leaders.
We hope that this book serves as a valuable companion for undergraduate and postgraduate learners of
management, commerce, and allied disciplines; for educators designing curricula and teaching
entrepreneurship; and for aspiring entrepreneurs who seek structured guidance in their journey from
idea to enterprise. The rapidly changing entrepreneurial landscape demands continuous learning,
adaptability, and critical thinking—qualities that this text endeavours to cultivate.
We express our sincere gratitude to JEC Publication for their support in bringing this work to life, and
to all scholars, students, and professionals whose insights continue to enrich the field of
entrepreneurship studies. It is our earnest belief that this book will inspire readers to reflect, explore,
innovate, and contribute meaningfully to society through entrepreneurial action.
Dr. Trilochan Nayak
Dr. Jyoti Khurana
Shubham Gaur
Tanya Jolly