Completion of this work will satisfy the following learning outcomes from module:
LO1 Demonstrate an understanding of the nature of innovation and idea generation and the common factors that lead to innovative success or failure within an organisation.
“Idea generation is the creative process of generating new methods to solve problems and improve the product’s conditions or the company itself. It is undoubtedly based on factors like idea development, group discussions, choosing the best alternative, and finally, implementing the idea in real-world scenarios. The idea doesn’t need to be practical, and it can also be a mere thought.” (Hitesh Bhasin, 2021).
Analyse the above statement and explain why innovation and enterprise are both fundamental in business, and in start-up and established organisations as they operate in competitive business markets. Using your knowledge and theories researched on innovative practice and idea generation and relate it to the above statement. Discuss why innovation and enterprise are so fundamental and important in business. Explore through real business examples your ideas of the common factors that lead to innovation success or failure. (LO1).
Other relevant assessment information:
• The completion of your work will satisfy 15% of the assessment weighting for this module
• The word limit is 750 (+/- 10%)
• Relevant literature needs to be added to the discussion. You will need to include and reference at least 4 different sources including 2 academic textbooks and 1 academic journal that help provide supporting evidence for any assertions that you make.
• Pros and cons of the statement need to be viewed.
• The essay should be submitted online, through Turnitin.
Type of service : Academic Paper Writing
Type Of Assignment : Essay
Subject : Business
Pages / words : 4/1000
Number Of Sources : 2
Academic Level : Senior(College 4th year)
Paper Format : Harvard
Line Spacing : Double
Language Style : UK English