Innovation and Business Performance
Unit purpose and aim(s)
Throughout the world, innovation is a key factor that gives rise to changes in market conditions for different goods and services. As a result, businesses need to constantly evolve in order to compete effectively, underlining the need for strong business performance. This unit focuses upon the importance of business performance and the need to identify, develop and utilise the appropriate forms of measurement that are essential for informed managerial decisions and for evaluating results. The impact of innovation within an organisation is very much part of this focus. The unit aims to provide you with a theoretical framework of the concept of innovation that can be used to assess its impact in a range of business contexts and situations.
After studying this unit, you should be able to appraise the issue of innovation as it falls within, and relates to, key business functions and disciplines. You should be able to form a holistic view of the drivers and effects of innovation on the business enterprise, and to develop an awareness of the need to innovate in a wide contexts in which it can be applied.
Assessed by exam.