Explain the uses of models of business innovation

Explain the uses of models of business innovation

In this paper, you are required to define business innovation and the uses of models of business innovation. Also, identify sources of support and guidance for business innovation and explain the process of product or service development in your report. Finally, describe the pros, risks, and implications associated with innovation in your report.
 
Assessment Criteria:

2.1 Define business innovation
2.2 Explain the uses of models of business innovation
2.3 Identify sources of support and guidance for business innovation
2.4 Explain the process of product or service development
2.5 Explain the benefits, risks and implications associated with innovation