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Elucidate the Relationship Between Innovation and Entrepreneurship

question 27

Essay

Elucidate the relationship between innovation and entrepreneurship.


Definitions:

Anchoring

A cognitive bias in decision making where an individual relies too heavily on an initial piece of information to make subsequent judgments.

Framing

The way information is presented or structured, influencing perception and decision-making.

Overestimating

The action of assessing something or someone as greater, larger, or more important than it is in reality.

Over-optimism

The tendency to be too confident or hopeful about future events or outcomes, often leading to underestimating risks.

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