Innovation
Date: 2015-10-07; view: 448.
| 1. The business environment, 2. There is a constant evolution in the needs of customers, 3. Innovative companies assume that all existing 4. Their logic is - we wouldn't dream of getting into this industry today, 5. Of course, innovation requires experimentation, and inevitably leads to failures; 6. On the other hand, successful innovations can 7. However, it is well-known that small, flexible companies 8. Large companies often have rigid structures, 9. But another possibility for large companies with established products |
| a. and an emphasis on cutting costs and achieving economies of scale b. indeed, around 90% of innovations do not succeed, c. is to acquire small, newly-successful, innovative firms, d. produce far more innovations than big firms, e. products, services, markets, distribution channels, technologies and processes are ageing f. rapidly become profitable new markets or product lines g. the technological skills of competing companies, h. so we should get out of it quickly, i. which is to say, the world, |
| j. and re-allocate our resources to something new. k. and will have to be replaced as soon as they begin to decline. 1. is continually changing. m. or even give birth to entire new industries. n. patterns of international trade, and so on. o. proportionate to their R&D spending. p. rather than innovating. q. so the other 10% have to cover the costs of the failures. r. which they often find cheaper than innovating themselves. |
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Task 3. Complete the following collocations from the text:
1. ______________ environment
2. rigid ____________
3. ___________ of scale
4. ____________ channels
5 ___________ lines
6 __________ skills
7. re-allocate ___________
8. international _____________
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| Management approaches | | | Task 4. Learn the active vocabulary. |