The Importance of Innovation in a Business Enterprise - Essay Example

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Summary

As the paper outlines, for any business organization to thrive, employees and the management must initiate a culture of innovation. Because of fierce competition from competitors of a business organization, it is important for them to develop policies that are customer-focused. …

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The Importance of Innovation in a Business Enterprise

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Subject: Business
Type: Essay
Level: Undergraduate
Pages: 1 (250 words)
Downloads: 2
Author: ericka43

Extract of sample "The Importance of Innovation in a Business Enterprise"

After attending this class, there are numerous lessons learned, and amongst them is the importance of innovation in a business enterprise. Stakeholders are the investors, the employees, partners of the organization, and regular clients of the organization. I managed to acquire skills that gave me the capability to open a decorative company. For instance, my role in the formation of the company was to conduct market research and identify the various needs of customers in relation to decorating their homes.

In the formation of this company, I realized the need for consultations with my fellow investors for purposes of developing a policy that would effectively address the needs of the customers that I interviewed. On this basis, therefore, I would give myself grade A. This is because I managed to apply the lessons I learned from class, by forming a company.

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