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Four Innovations

In: Business and Management

Submitted By amiyabrielle
Words 572
Pages 3
FOUR REASONS WHY ENTREPRENEURIAL ORGANIZATIONS
SEEK OPPORTUNITIES FOR INNOVATION
Innovation is about creating something or doing something in a new way. The goal of innovation is to take an idea and improve the way a business performs. In an effort to gain a competitive advantage in both operations and human resources, several large companies are changing their attitudes in their workplace environments. They are following the examples of small organizations. They are making their environments more flexible, creative, and innovative.
First, an organization must provide the information and tools needed to allow each individual the ability to pursue solutions and take advantage of opportunities at their level of employment on workplace standards. Secondly, the workplace atmosphere that already exists needs to encourage individual initiative and allow mistakes and failures that occur in the process of being imitative to be viewed as progress in the organizational and personal quest for excellence.
Businesses that pursue innovation are more likely to generate more growth and profits than those that don’t.
THE FOUR REASONS WHY ENTREPRENEURIAL ORGANIZATIONS SEEK
OPPORTUNITIES FOR INNOVATION
1. New products or services.
One of the most common forms of innovation is the creation of a new product or service. A new product may exploit an already established technology or be the creation of a whole new idea. Products are not just a physical tool. They can also play a role in satisfying a consumer’s emotional need. Branding is an important aspect. A brand name reassures the consumer, has a ready-made reputation and makes a personal statement. Macintosh has made innovations in the field of electronics with the iPod, iPad and iPhone.
A service is an act which is offered to complete a task or solve a problem. Services are open to endless possibilities and ideas. Services

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