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Summary innovation
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Summary of 44 pages for the course BTEC Business Studies at Abacus College, Oxford (innovation)
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Degree of noveltyCASE 1: New wrapper for a chocolate bar.
Marketing People: The new wrapper may well
appear to be a significant innovation,
If the same type of wrapper is already in use on
other similar products there really is very little
innovation.
,Innovations: Television
Not only transformed the nature of leisure time,
created a new creative industry and provided
employment for thousands, but also went on to
transform a whole host of other aspects of our
society including
Politics
Advertising,
The provision of information and sport.
,Big change and small changes innovations has led
some to group innovations as either
1. Radical
2. Incremental
Innovations using just two classes in this way is rather
limited and does not bring out the subtle but
important differences between innovations.
, System and Components
Products are actually systems. As systems they are
made up of components that fit together in a
particular way in order to carry out a given
function.
Example
Pen = knib + ink storage + stem + cover + ink
System = interaction of components
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