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BTEC Business Unit 1: Exploring Business Assignment 3 LAE PRESENTATION

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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...

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  • August 28, 2022
  • 12
  • 2022/2023
  • Presentation
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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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