Section outline

  • Learning outcomes:

    • identify entrepreneurs that were innovative
    • identify and describe the characteristics of innovation
    • recognise the importance of innovation to business success & sustainability

    Characteristics of Innovation

    Innovation may have some of the following characteristics. 

    • Something “New” It is different to current models.
    • Better than what exists: It new but also improved.
    • Solves problems. Makes life easier or more convenient for users
    • Has economic value: People would be willing to buy it