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Canada (161,661)
BUS 338 (1)
Chapter 1

Notes from Chapter 1 of Managing Innovation textbook

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Business Administration
BUS 338
Anthony Chan

Chapter 1: Innovation what it is and why it matters 1.1 Introduction Innovation is driven by the ability to see connections, to spot opportunities and to take advantage of them. But it is not just about opening up new markets it can also offer new ways of serving established and mature ones. Technology often plays a key role in enabling radical new options. Or you can find scope for improvement on an old product, often using old technologies in new ways. Innovation is not confined to manufactured products; plenty of examples of growth through innovation can be found in services. 1.2 Why innovation matters Competitive advantage is most likely to be with organizations that can mobilize knowledge and technological skills and experience to create innovation in their offerings (productservice) iand the ways in which they create and deliver those offerings. Innovation matters, not o
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