To what extent does invention and innovation impact or influence the competitive advantage of an organisation?
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To what extent does invention and innovation impact or influence the competitive advantage of an organisation?
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- What should managers consider when purchasing new technologies or upgrading their present systems in their businesses?How does IT help a company's business processes and decision-making while still giving it a competitive advantage?How does knowledge management impact the management of technology and innovation?
- What is the contribution made by business organizations to meet the needs of people or a society?What are the key stages of the business lifecycle, and how does this affect decision-making within the organization?Critically discuss how innovation can help organisations achieve and sustain their competitive advantage. Use examples from different theorists and examples from the business practice
- What is one emerging new innovation or trend that you think could have a major impact on our daily lives or a major impact on our economy in the future?How will the technology/ solution/ concept affect businesses and / or society? Why is it important formanagers to know about it?Structural similarities occur as underlying technological processes mimic or correspond to the underlying business mechanisms. Is it real or wrong?
- Compare and contrast the advantages and disadvantages of the three approaches for technology and innovation development.The business environment is a complex and dynamic system that encompasses a multitude of factors influencing the operations, strategies, and success of an organization. It comprises both internal and external elements that shape the way businesses operate and make decisions. Internally, factors such as organizational culture, structure, and resources play a crucial role in defining the company's capabilities and limitations. On the external front, economic conditions, technological advancements, legal and regulatory frameworks, socio-cultural trends, and the competitive landscape all contribute to the overall business environment. In the ever-evolving global marketplace, businesses must constantly adapt to changes in the environment to remain competitive and sustainable. Economic fluctuations, for instance, can impact consumer spending patterns and demand for products or services. Technological advancements may create new opportunities for innovation but also pose challenges for…How can an organization effectively manage the innovation process for product and service development to foster growth and competitive advantage?