Writing Resources
Innovation and enterprise Just like aspects of any other organisation in order to be successful businesses must prepare for risks associated with innovation and enterprise alongside considering and being able to adapt to its benefits For a business to grow its market share the role of innovation and enterprise is crucially important Innovation involves the development of a product or service identifying new ways and methods of increasing business efficiency or improving the organization's overall profit which can also result in cut costs Another way a business can be innovative is by adding value to products This has become an expectation also due to its changes in the market and environment there has been an increase in demands for cheaper products with high quality Enterprise involves creativity being explored within organisations to ensure consumer interest This includes different types of methods Lateral thinking known as thinking outside the box this encourages the idea of considering an idea from the perspective of others Blue sky thinking known as the sky's the limit this represents creativity approaching something with no restrictions
