Innovation (AQA A-Level Business): Flashcards

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Innovation
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Innovation definition

Developing new ideas and putting them into action

Product innovation

Creating new goods/services or improving existing ones

Process innovation

New or improved methods of production and delivery

R&D department purpose

Drives innovation by generating and implementing new ideas

Number of NPD stages

Six stages

Kaizen

Japanese philosophy of continuous improvement

Intrapreneurship

Employees empowered to develop innovative ideas within firm

Patent

Legal registration and protection of a new invention

Trademark (™)

Legal protection for business names, logos, and slogans

Copyright

Automatic protection for written work and music

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