Write a report in which you discuss and evaluate the sources of innovation. The

Question

Write a report in which you discuss and evaluate the sources of innovation. The report will be given to senior management of your chosen company. You should include the following: Identify sources of innovation Assess trends and forecasts that are affecting (or will affect) your industry Evaluate possible disruptive innovation. Support your paper with a minimum of three (3) peer reviewed articles published in the last five years. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included. Length: 3-5 pages not including title page and references

Explanation / Answer

7 Sources of Innovation and their application to health care sector

Demographic Changes

Demographic changes or trends could include an ageing population something which is occurring in many Western countries.

Changes such as this may cause a shift in consumer demand.

Innovations will stem from this to assist persons with worsening eyesight, hearing, mobility

Changes in Perception

Innovations can arise due to peoples changes in perception. One example of this would be the general public's perception of tobacco which has changed a lot over the last fifty years . New innovations to enable people stop the habit are occurring all the time as a result. From special nicotine releasing gum and patches, right through to electronic cigarettes

New Knowledge

Advancements in science for example is the formation of new knowledge. Such advancements are utilized constantly to create new, innovative products for us to use

Unexpected Occurences

Unexpected occurrences can be sources of innovation

Incongruities

Drucker explained an incongruity as a discrepancy or a difference between what something already is and what something should be

Process Needs

Incongruities in a process. Process incongruity is explained as something that is missing within a process.

Traditional thermometers were replaced by digital ones for more accuracy.

Industry and Market Changes

Industry and market changes can be sources of innovation. These changes often result as people change their preferences, tastes and values

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