Presentation
Unit 1 - Exploring Business Learning Aim E
- Course
- Institution
- Book
Investigation of the roles and contribution of innovation and enterprise to business success.
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
BTEC Business Unit 4 - Assignment 2 (*Distinction*)
-
BTEC Business Unit 4 - Assignment 1 (*Distinction*)
-
BTEC Business Unit 1 - Assignment 1 (*Distinction*)
Seller
Follow
abdullahshajid44
Content preview
Unit: 1Exploring business
-
How important is innovation and enterprise to today’s
businesses?
E.P7 – Explore how innovation and enterprise
contribute to the success of a business
My name is Abdullah Gaffar In this PowerPoint I will be
exploring how innovation and enterprise contribute to
the success of Tesco PLC. I will be mainly focussing on
the role of innovation and enterprise and the benefits
and risks associated with innovation and enterprise.
1
, WHAT IS INNOVATION AND
ENTERPRISE
Definition:
Ø Innovation –
Innovation is a new idea, method, strategy, or the act of
introducing something new.
Ø Enterprise –
Enterprise is another name for a business. It also refers to
the opportunities to develop business activities.
2
, DIFFERENCE BETWEEN INNOVATION
AND ENTERPRISE
Innovation and enterprise are two different
concepts having entirely different meanings.
However, with that being said there is a strong
connection between the two.
• The main difference between innovation and
enterprise is that innovation involves introducing
something new, for example, a new business model,
product, idea, or service, whereas enterprise
involves turning a great idea into a business
opportunity.
• Therefore, the enterprise begins with innovation.
3
, WHY IS BUSINESS
INNOVATION SO IMPORTANT?
• Increased efficiency
• Brand perception
• Helps organisations differentiate themselves
Increased efficiency: innovation can increase efficiency within a business as it would
give a business a purpose
Brand perception: Consumers are more willing to buy from a business they perceive
to be innovative and socially conscious.
Helps organizations differentiate themselves: Most industries are populated with
multiple competitors offering similar products or services. Innovation can help to
distinguish businesses from each other.
4
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller abdullahshajid44. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
61231 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 15 years now