This unit outlines the importance of providing opportunities for innovation in business and the impact that this can have. It introduces different types of innovation, the stages of the creative process and the role of intrapreneurship in business (intrapreneurship refers to a system within a company or organisation that allows employees to act like entrepreneurs). It will develop your ability to:
- Discuss the benefits and risks of innovation in business.
- Explain the difference between invention and innovation.
- Discuss how organisations can develop a culture of entrepreneurship.
This unit is assessed by assignment.
Qualifications for this unit
COMING SOON: ABE Level 3 Diploma in Business Management
This future-facing, skills-focused qualification provides a comprehensive overview of the elements that are needed in a business, from leadership to innovation to marketing and finance. It develops a wide-ranging skill set that opens the door to many career paths, along with a strong foundation of knowledge to support progression to higher education.
COMING SOON: ABE Level 3 Foundation Diploma in Entrepreneurship
The ability to successfully identify and develop business opportunities requires a wide-ranging skill set. This qualification will give you understanding of how to set up and run an enterprise, whilst developing your understanding of innovation and other areas prized by employers.