A Study of Innovations and Innovative Approaches of Micro and Small SC Entrepreneurs in Kolhapur District

Innovation is the specific instrument of entrepreneurship; the act that endows resources with a new capacity to create wealth. It is an essential quality of a successful entrepreneur. Innovative approach is an attitude of entrepreneur which generates and implements idea to produce new and improved products, processes and services. The success of innovations and innovative approaches are largely depending up on the entrepreneurial environment of an entrepreneur in which he is brought up. In India, where all the people are classified into various castes and religions which ultimately determines the occupations and scope of opportunities of any person, an entrepreneurial environment plays a significant role in determining and developing innovative approaches in them. On this backdrop, present research work is carried out with the major objectives to study the innovations and innovative approaches those are developed and deployed by micro and small SC entrepreneurs in Kolhapur district while running their enterprising activities. This study is also intended to know the problems in adopting new and innovative approaches while running their business activities. For the purpose of this study, Universe is considered as infinite. Primary data is collected from 300 sample respondents in Kolhapur district by using purposive and Snow Ball Sampling Method. Findings and observations of this research study helps to understand the demographic profile of micro and small SC entrepreneurs and also provides in depth present information about innovation and innovative approaches of them. This exploratory nature of research study has identified some limitations on the basis of which specific suggestions are offered for further development in this regard.