Innovation
Technology: improve personal devices. Continual improvements instead of lifechanging innovation
Incremental Innovation
A right to an invention, not yet on the market
Patent
CEO of Berkshire Hathaway. Known as the Oracle of Omaha,
Warren Buffet
Really interested in a subject and the success of the business
Passion
Dealing with needs: physical, safety, belonging, esteem and self actualization
Maslow’s Hierarchy of Needs
Redesign an existing product, low risk since the product exists in a different state
Architectural Innovation
Protection of brand names and logos
Trade Mark
Major influencer of the American cartoon industry
Walt Disney
Really believe in yourself or the product
Confidence
motivation for doing something: measured in complexity, feedback, challenge, clarity and commitment
Locke's Goal setting theory
Creates a new market rather than disrupting an existing one. New technology and a new business model
Radical Innovation
Valuable knowledge not available to the public
Trade Secrets
Talk show host, set Harpo Productions and O magazine
Oprah Winfrey
Think outside the box. Be willing to use new ideas
Creativity
motivation to do something based on rewards, satisfation, hygiene, etc.
Herzberg's two factor theory
Improve the delivery method, such as software
Process Innovation
Protection of expression of ideas
Copyright
Created Apple computers and the iPod
Steve Jobs
To be a good leader, you must inspire others
Motivation
Facotr's outside of a business's control: trends, taxes, laws/regulation and competition
STEEPLE/PESTLE/PEST
Changes in design and packaging
Marketing Innovation
Unique name or symbol
Brand
Owner of Tesla and SpaceX
Elon Musk
Don't give up. If the project fails, launch another one
Perserverence
Measures what you can offer customers based on their needs. You can offer this, but your competitors cannot
USP