Explain the uses of models of business innovation

Outcome 2 Understand business innovation and growth

The learner can:

1. define business innovation
2. explain the uses of models of business innovation
3. identify sources of support and guidance for business innovation
4. explain the process of product or service development
5. explain the benefits, risks and implications associated with innovation

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This model answer was prepared by our editorial team in response to a real assignment brief we received. It shows one way to approach the task and is meant as a study guide, not for submission.