Size
More than 200 employees and/or an annual turnover above $250 million.
What is a large business?
A document that compiles the goals and objectives of a business and how it sets out to achieve them
What is a business plan?
Taking the components of a product and reassembling or redesigning them in a new way to introduce to a new market.
What is architectural innovation?
A management style which tells staff what decisions are made.
What is an autocratic management style?
Anyone with an interest in a business and how it operates.
What is a stakeholder?
20–199 employees and/or an annual turnover above $10 million
What is medium?
The property of the mind, intangible items or proprietary knowledge that a person or business creates and owns.
What is intellectual property?
Occurs over time through a series of small improvements.
What is incremental innovation?
Someone who sells decisions they have made to their staff.
What is a persuasive manager?
A person or entity that offers competing products and/or services
What is a competitor?
1–4 employees
What is a micro business?
The ability of the business to offer products or services that meet or exceed market standards in relation to other businesses.
Ideas regarding the technological, organisational, financial, and commercial activities necessary to create, implement and market new or improved products or processes.
What is innovation theories?
Consulting staff before making significant decisions.
What is consultative style of management?
What did Herzberg, Locke, Maslow create?
What is motivational theories?
1–19 employees and/or an annual turnover of less than $10 million
What is small business?
Occurs when an original invention is improved upon, or a significant contribution is made to the existing product, process or service.
What is innovation?
Two categories of innovation
What is open and closed?
Someone who joins with staff to make a group decision.
What is a participative manager?
Starts, operates and assumes the risk of a business venture in the hope of making a profit.
What is an entrepreneur?
A smaller section of a larger market segment, focusing on a select group of customers.
What is a niche market?
Business’s share of the total industry sales for a particular product or service, often expressed as a percentage
What is market share?
Involves the harnessing of new technology and a new business model simultaneously. It does not seek to take the market share of another business or product but rather to create an entirely new and currently non-existent market segment.
What is radical innovation?
A style of management where staff are highly skilled and can work independently.
What is Laissez Faire management style?
Professional associations, Trade unions, Lobbyists
What is interest groups?