Revision:AQA A2 Business Studies Unit 4 - Invention, Innovation and Design

TSR Wiki > Study Help > Subjects and Revision > Revision Notes > Business Studies > AQA A2 Business Studies Unit 4 - Invention, Innovation and Design

Invention

This is when an entirely new product or process is invented. It is not an adaptation of an existing product but an invention in its own right. Examples would be a mini-disk player or robotic welding.

Innovation

This is where a product or process is changed or adapted for a new purpose or to include new technology. Bag-less vacuums, counter-rotating drum washing machines etc.

Why would we want to innovate?

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Also See

Read these other AQA A2 Business Studies Unit 4 revision notes:

• Privatisation
• SWOT Analysis of the UK
• Balance Sheets
• Limitations of Accounts
• Profit and Loss Accounts
• Revenue and Capital Expenditure
• Market Analysis and Decision Making
• Marketing Maths
• Marketing Objectives and Decision Making
• Marketing Budgets
• Corporate Planning
• Management of Change
• Invention, Innovation and Design
• Network and Critical Path Analysis
• Business and the Law
• Employee Participation
• Human Resource Management
• Performance Measurement

Comments

These notes are aimed at people studying for AQA A2 Business Studies Unit 4, but will also be suitable for other courses and exam boards.

Originally submitted by eksman on TSR Forums.