BMS409: Analyze the above statement and explain why innovation and enterprise are both fundamental in business: Innovation and Enterprise Essay, NCD, UK

ASSESSMENT

Completion of this work will satisfy the following learning outcomes from the module:

 LO1    Demonstrate an understanding of the nature of innovation and idea generation and the common factors that lead to innovative success or failure within an organization.

 TASK

1. “A pile of rocks ceases to be a rock pile when somebody contemplates it with the idea of a cathedral in mind.” —Antoine de Saint-Exupéry.
2. “If you have always done it that way, it is probably wrong.” —Charles Kettering
3. “The creation of something new is not accomplished by the intellect, but by the play instinct arising from inner necessity. The creative mind plays with the object it loves.” —Carl Jung

Analyze the above statement and explain why innovation and enterprise are both fundamental in business, and in start-up and established organizations as they operate in competitive business markets.  Using your knowledge and theories researched on innovative practice and idea generation and relate it to the above statement.

Explore through real business examples your ideas of the common factors that lead to innovation success or failure. (LO1).