Geography & History Notes | KCSE, NECTA, ZIMSEC & GCSE

 Every business can benefit from innovation in the following ways; 1. Developing new products. A firm can make an exclusive basis based on the review of the needs of the end- users of its production and their environment. Through innovation, new technologies can be located. 2. It assists in marketing Innovation helps in packaging and positioning the business products for global distribution, for example, developing state-of-the-art electronic commerce and distribution programs. 3. It helps in developing additional distribution channels and added value that can make one’s service stand out. 4. It helps the entrepreneur to find new applications for existing software. Therefore improvement in effectiveness eases the use and perceived value of one’s software. 5. It enables the entrepreneur to successfully market on internet. Through innovation, an entrepreneur can review his or her objectives and compare to customer needs. He or she can determine what is not working and implement a sol...

  1. Expect change; There is an increase in the velocity, complexity and unpredictability of change. This increase creates a new hyper-competitive international environment. 2. Implement new rules. This involves going beyond the existing parameters of competition to achieve competitive advantages and profits. 3. Develop innovative strategies. Develop conscious strategies and mechanisms to promote consistent innovation (innovative all the time). 4. Avoiding barriers. This involves dissolving internal barriers separate people and departments. 5. Be fast. Implementation needs to be fast. It is better to be 80% right and quick than 100% right and late. 6. Think like an entrepreneur. Entrepreneurs make things happen and allow themselves to fail and improve. 7. Think global. The fastest growing markets may be at the international level, for example, companies can shop in a single global supermarket for just about everything. 8. Always be a learner. One should have the ability to learn fa...