Innovation and Enterprise

What is INNOVATION

• A service which calculates how much sales and profit was made within the month

• The minimum requirement a company needs in order to become successful

• The process of translating an idea or invention into a good or service that creates value or for which customers will pay.

• The channel of communication from business to business

What is ENTERPRISE

• A company which is international and has numerous franchises

• A business which has a rich CEO who is very powerful in the business world

• A business or a company which is successful due to a mixture of innovation and risk taking

• A company which has to pay for a patent

What is the importance of INNOVATION

• Management research confirms that organisations that meet the innovation challenge out perform their competitors in Market Share, Growth and Profitability

• Innovative organisations are able to better mobilise the knowledge, skills and experiences of people and successfully create new products, services and ways of getting things done faster and cheaper

• Although creativity is innovation's precursor, both are key issues for organisational survival growth

• All of the above

Which company are known to have workplaces which encourage innovation?

• JD Sports

• Dyson

• Farmfoods

• New Look

What is the first stage of the PRODUCT LIFE CYCLE

• Growth

• Introduction

• Maturity

• Decline

What is the second stage of the PRODUCT LIFE CYCLE

• Introduction

• Decline

• Growth

• Maturity

What is the third stage of the PRODUCT LIFE CYCLE

• Introduction

• Growth

• Decline

• Maturity

What is the forth stage of the PRODUCT LIFE CYCLE

• Decline

• Introduction

• Growth

• Maturity

What stage comes before the Introduction stage in the PRODUCT LIFE CYCLE

• Hiring Staff

• Health and Safety Training

• Research and Development

Which of these are a DECLINED product

• iPhones

• DVD's

• Dyson Hoovers

• Hairbrushes