Ebtt3103 Innovation And Technology Management Assessment Answer

Question 1

Inventions become innovations when they are refined to such an extent that they continue to be successful in the market long after they were first invented. This means adding significant value to consumers such as adding new personalities and characteristics to products to suit and adapt to consumers’ ever-changing needs. The ultimate objective of innovation is to sustain competitive advantage. To bring an innovation into the market, companies need to conceive an invention and create a value chain around it.

Innovation is not only about being creative or inventing something new. It is also about using knowledge to solve problems. It is about adding value to our work and this can result in a better product or service. There are four basic types of innovation which are basic, sustaining, disruptive and breakthrough innovation.

Write an article to depict the four basic types of innovations using ONE example for each type of innovation. The article must consist of:

i. An introduction section to explain innovation and the basic types of innovation.

ii. Four sections with each sections depicting a case representing the four types of innovation - the narrative must clearly show why the case shown is considered an innovation and why it is considered a basic / sustaining / disruptive / breakthrough innovation.

iii. A summary section to conclude your article by discussing the type of innovation(s) that you would target for your organisation or business (with reason(s)).

iv. Include relevant references to support your article.

Question 2

Based on your answer in Question 1, you are required to make a presentation with a minimum duration of 10 minutes (15 slide) , the presentation slide should fulfil the following requirements;

i. An introduction section to explain innovation and the basic types of innovation.

ii. Four sections with each sections depicting a case representing the four types of innovation - the narrative must clearly show why the case shown is considered an innovation and why it is considered a basic / sustaining / disruptive / breakthrough innovation.

iii. A summary section to conclude your article by discussing the type of innovation(s) that you would target for your organisation or business (with reason(s)).