Innovation.
i. What is it?
ii. For each of the types of innovation covered in the slides and audio:
1. Provide 2 examples of each (that were not included in the
slides or audio) and explain why these are good examples of
those types of innovation.
2. For each of your examples explain how these two types of
innovation were used to drive up profits.
a. Discuss the 2 key factors required to drive up profits
(drive down costs and drive up revenues). Include
explanation of how new products gain customer
acceptance, including the importance of the relationship
between price and utility.
iii. The case of a slow growth / no growth economy.
1. Explain how our ability to do process and product innovation
might be impacted by a slow growth / no growth economy,
and what we can do about the problem.
