Jake Watkins
Unit 1 Assignment 3
Explore how innovation and enterprise contribute to the success of a business.
What is innovation?
Innovation is simply the development of a creative, innovative idea into a new product or
service. Innovative businesses invest time and money in order to make a profit and an
established name for their brand, the most successful innovative businesses are strategic,
smart and creative. These are some examples of innovative businesses:
Apple:
Apple is a multinational technological company that is considered the number 1 innovative
enterprise in the world. Their innovation strategies include innovative business models and
unique products. They are known for pioneering into new business spaces and creates new
niches for the market. Furthermore, the company has developed game-changing
technologies such as the iPod, iTunes, iPhone, and iPad. It has obviously taken a lot of time
and effort to be one of or the most innovative business on the planet, but factors of their
success originate from simply pushing the pace of innovation at all times and hiring the
greatest innovators they can find. In addition, Steve Jobs said, “to turn really interesting
ideas and fledgling technologies into a company that can continue to innovate for years, it
requires a lot of discipline,” Therefore, Apple built and still has an effective innovation
system to sustain creativity in their employees/workers, produce new ideas and launch
successful and profitable new innovations. Innovarsity (n.d.)
These are the latest iPhones produced by Apple showing the price increase. Each year when
they bring out a new iPhone there are always loyal consumers lining up to get the phone
first, showing their dedication to the brand because there is always something different
about their phones each year which entices new and existing consumers, highlighting the
fact that innovation plays a big part in their iPhones and other technological products such
as their iPads.
https://www.google.com/url?sa=i&url=https%3A%2F%2Fwww.macworld.com%2Farticle
%2F3586168%2Fiphone-12-iphone-12-pro-deals-discounts-carriers-apple-store-where-to-
buy.html&psig=AOvVaw0mgslvD1VlwlZ78Sbgspmf&ust=1611148261371000&source=image
s&cd=vfe&ved=0CAIQjRxqFwoTCNje2pCJqO4CFQAAAAAdAAAAABAD
1
, Jake Watkins
Unit 1 Assignment 3
Tesla:
Tesla is a successful electrical vehicle company based in Palo Alto, California. Tesla produces
fantastic innovative products which consist of electric cars that exceed consumers needs
and expectations. They are innovative because they are devoted to producing world
changing technology that no one has ever witnessed before such as environmentally
friendly, sustainable fast-charging batteries. Some of Tesla’s innovation strategies come
from focusing on transforming the auto industry. These are some of Tesla’s innovative and
well-known cars:
https://www.google.com/url?sa=i&url=https%3A%2F%2Fwww.autoexpress.co.uk%2Ftesla
%2Fmodel-
3&psig=AOvVaw0XfBFq8quGB1oyM7CR4o5B&ust=1611149720731000&source=images&cd
=vfe&ved=0CAIQjRxqFwoTCIjDhsiOqO4CFQAAAAAdAAAAABAD
Amazon:
Amazon is an American multinational technological company which focuses on e-commerce
and artificial intelligence. CEO, Jeff Bezos has one of the highest net worth in the world of
$185.7 billion and has influenced Amazons major success from the beginning. Moreover,
Amazon has a lot of innovation strategies such as one click purchases, Alexa and Kindle but
most importantly Prime. Prime allows consumers to pay for a subscription where they get
fast and free shipping and Amazon’s streaming service. Fast and free shipping is beneficial
and innovative because consumers are more likely to stick to ordering from Amazon instead
of other businesses because they will get used to purchasing a product and receiving it in a
day, they won’t want to order from anywhere else that does not do the same.
This is an Amazon Echo, where people can talk to ‘Alexa’ to ask
questions, play music and many more.
2
Unit 1 Assignment 3
Explore how innovation and enterprise contribute to the success of a business.
What is innovation?
Innovation is simply the development of a creative, innovative idea into a new product or
service. Innovative businesses invest time and money in order to make a profit and an
established name for their brand, the most successful innovative businesses are strategic,
smart and creative. These are some examples of innovative businesses:
Apple:
Apple is a multinational technological company that is considered the number 1 innovative
enterprise in the world. Their innovation strategies include innovative business models and
unique products. They are known for pioneering into new business spaces and creates new
niches for the market. Furthermore, the company has developed game-changing
technologies such as the iPod, iTunes, iPhone, and iPad. It has obviously taken a lot of time
and effort to be one of or the most innovative business on the planet, but factors of their
success originate from simply pushing the pace of innovation at all times and hiring the
greatest innovators they can find. In addition, Steve Jobs said, “to turn really interesting
ideas and fledgling technologies into a company that can continue to innovate for years, it
requires a lot of discipline,” Therefore, Apple built and still has an effective innovation
system to sustain creativity in their employees/workers, produce new ideas and launch
successful and profitable new innovations. Innovarsity (n.d.)
These are the latest iPhones produced by Apple showing the price increase. Each year when
they bring out a new iPhone there are always loyal consumers lining up to get the phone
first, showing their dedication to the brand because there is always something different
about their phones each year which entices new and existing consumers, highlighting the
fact that innovation plays a big part in their iPhones and other technological products such
as their iPads.
https://www.google.com/url?sa=i&url=https%3A%2F%2Fwww.macworld.com%2Farticle
%2F3586168%2Fiphone-12-iphone-12-pro-deals-discounts-carriers-apple-store-where-to-
buy.html&psig=AOvVaw0mgslvD1VlwlZ78Sbgspmf&ust=1611148261371000&source=image
s&cd=vfe&ved=0CAIQjRxqFwoTCNje2pCJqO4CFQAAAAAdAAAAABAD
1
, Jake Watkins
Unit 1 Assignment 3
Tesla:
Tesla is a successful electrical vehicle company based in Palo Alto, California. Tesla produces
fantastic innovative products which consist of electric cars that exceed consumers needs
and expectations. They are innovative because they are devoted to producing world
changing technology that no one has ever witnessed before such as environmentally
friendly, sustainable fast-charging batteries. Some of Tesla’s innovation strategies come
from focusing on transforming the auto industry. These are some of Tesla’s innovative and
well-known cars:
https://www.google.com/url?sa=i&url=https%3A%2F%2Fwww.autoexpress.co.uk%2Ftesla
%2Fmodel-
3&psig=AOvVaw0XfBFq8quGB1oyM7CR4o5B&ust=1611149720731000&source=images&cd
=vfe&ved=0CAIQjRxqFwoTCIjDhsiOqO4CFQAAAAAdAAAAABAD
Amazon:
Amazon is an American multinational technological company which focuses on e-commerce
and artificial intelligence. CEO, Jeff Bezos has one of the highest net worth in the world of
$185.7 billion and has influenced Amazons major success from the beginning. Moreover,
Amazon has a lot of innovation strategies such as one click purchases, Alexa and Kindle but
most importantly Prime. Prime allows consumers to pay for a subscription where they get
fast and free shipping and Amazon’s streaming service. Fast and free shipping is beneficial
and innovative because consumers are more likely to stick to ordering from Amazon instead
of other businesses because they will get used to purchasing a product and receiving it in a
day, they won’t want to order from anywhere else that does not do the same.
This is an Amazon Echo, where people can talk to ‘Alexa’ to ask
questions, play music and many more.
2
