Mcclelland's Innovation Theory

McClelland (1961) proposed that individuals with innermost need for achievement (n-Ach) were more likely to start their own businesses than those with low n-Ach. He defined individuals with high (n-Ach) as “the desire to do well for the sake of an inner feeling of personal accomplishment”. Person endowed with such a need are characterized by spending time on how to do a job better, they like situations where they can take personal responsibility for finding solutions to problems, they prefer immediate feedback on their performance to judge whether they are improving or not, they prefer striving to achieve targets which present both a challenge and are not beyond their capabilities. Need for achievement may play vital role in starting and

He proposed that entrepreneurship takes place when the entrepreneur creates a new product, introduces a new way to market for a product, discovers a new market for a product, finds a new source of raw material, and finds new way of making things or organization. Starting up a business has been mixed up with innovation for instance Olomi (2009) states that some people confuse starting a business with innovation. If one replicates an existing business concept, even if it is in another location that is not innovation. People who engage in and succeed in business are not necessarily very good at coming up with new ideas or novelties, at the same time others may be good at coming up with new ideas but not as good at carrying them out by creating the right organisation and commercialising them in this case innovation means coming up with new ideas and developing the organisation required to effectively commercialise them is a practice which can be learnt or developed. Similarly Schumpeter’s innovation theory ignores the entrepreneur’s risk taking ability placing too much importance on innovation. Likewise large number of women vendors at the market place are undertaking business activities which is already in existence in our natural environment, few of them do modification of the existing ideas in the market place, like packaging of vegetables, identification of their business by printing address on business items, they do lack fridge for preservation of their items to prevent from decaying and the like. Basing on facts explained above this theory will not safeguard our study in some aspects of this research