BTEC Business Unit 1: Exploring Business Assignment 3 LAE PRESENTATION
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Unit 1 - Exploring Business
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PEARSON (PEARSON)
DISTINCTION BTEC Business Level 3 Unit 1: Exploring Business Assignment 3 LAE PRESENTATION WITH SPEAKER NOTES
Learning aim E: Investigate the role and contribution of innovation and enterprise to business success
E.D4 Justify the use of innovation and
enterprise for a business in relation...
btec business level 3 unit 1 exploring business assignment 3
unit 1 learning aim e presentation
Written for
BTEC
PEARSON (PEARSON)
Business 2016 NQF
Unit 1 - Exploring Business
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Explore how innovation and
enterprise contribute to the
success of ITV
, What is innovation and enterprise?
Innovation is the creation, development and Enterprise is identifying opportunities to develop
implementation of a new product, process or service. business activities
Businesses can innovate in several ways such as: This can be done through:
➢ Creative Process - A staged approach to ➢ Lateral - approaching subjects from alternative
creativity which does not happen by accident. perspectives
➢ Product or service development ➢ Blue sky thinking - approaching subjects with
➢ Successfully exploiting a new idea no restrictions on perspectives
➢ Adding value to products or services to ➢ Serendipity - something that happens by
differentiate from competitors chance
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