Today we are going to be talking about the role and contribution of innovation and
enterprise to business success. Dyson are known for their innovative products, such as
the bagless vacuum cleaner, which was a huge innovative step in engineering. As well as
vacuums, Dyson is famous for gadgets that blow hot air from fans to hairdryers. But first,
what dose innovation and enterprise even mean?
1
, INNOVATION
Innovation is defined as ‘putting a new idea or
approach into action’.
Innovation is the initial idea which adds value to
any business.
Coca-Cola example
In any business innovation is essential as it will improve the range of products/ services.
It will increase productivity of the organisation and in turn give them a competitive edge.
Coca-Cola is an example of an innovative organisation as it releases new beverages that
the cliental will appreciate. An example of this is Sprite, which was introduced in 1961
and now ranks 3rd for soft drinks world-wide. Another example is Coke Zero which has
no calories or sugar but satisfied consumers needs and wants, which was unusual for
2005 which makes it an innovative step in the drinks and beverages industry.
2
enterprise to business success. Dyson are known for their innovative products, such as
the bagless vacuum cleaner, which was a huge innovative step in engineering. As well as
vacuums, Dyson is famous for gadgets that blow hot air from fans to hairdryers. But first,
what dose innovation and enterprise even mean?
1
, INNOVATION
Innovation is defined as ‘putting a new idea or
approach into action’.
Innovation is the initial idea which adds value to
any business.
Coca-Cola example
In any business innovation is essential as it will improve the range of products/ services.
It will increase productivity of the organisation and in turn give them a competitive edge.
Coca-Cola is an example of an innovative organisation as it releases new beverages that
the cliental will appreciate. An example of this is Sprite, which was introduced in 1961
and now ranks 3rd for soft drinks world-wide. Another example is Coke Zero which has
no calories or sugar but satisfied consumers needs and wants, which was unusual for
2005 which makes it an innovative step in the drinks and beverages industry.
2
