Topic: business innovations

- Product innovations

 How business come up with new ideas

Innovation in the past

- People got a lot of ideas from surprises or mistakes - luck

Innovation in the present

- People spend a lot of money in innovation

- Make innovations a large part in their company

What innovative companies have in common?

- Courage
o Try many new ideas

o Take risks

o Make their own lucks

o Examples: Apple computers - Ipod

 Get music from the computer into a little machine that people can
carry anywhere they want
- Think about products in a new way

o Invent new markets ⇒ higher profits

o Example: Starbucks

 They want to make customers stay in the store longer ⇒ spend more
money

 Customers spend a lot of time on the internet ⇒ provide wireless

internet services
 Customers stay in the store 9 times longer