Intro to innovation Keynote
Watch the video below to see how James Dyson used innovation to succeed in business.
Research & Development involves investigating the unknown and then using the findings to develop new systems or products. R&D as it is better known helps businesses to improve continuously over time.
R&D is particularly important in Hi-tech industries where product life cycles tend to be short. They can help a firm gain a first-mover advantage.
Task 3 – Complete the following worksheet to show how different factors can influence the rate of innovation that takes place in different organisations.
Factors affecting innovation worksheet