Innovation In The Modern World

790 Words4 Pages
Our world is not static, it is inconstant. Nowadays, economic instability, failed states, global epidemics, climate changes, increase of crimes and terrorism, environmental degradation, and so many other challenges demand us to create and establish completely new innovative systems which will help to solve all these challenges. Obviously, innovation process plays a crucial role in all aspects of the modern world. In this essay I will look at how innovation processes can help a business to succeed, to master the challenges of technology development, to respond in most effective ways to high demands of customers for top services. This essay begins with the explanation of the term ‘innovation’, then continues to discuss how incorporating innovation in a business can assist a business to prosper, increase revenue growth, and gives a business the competitive advantage to develop and adapt in the marketplace, particularly on the example of Airbus SAS.
Word ‘Innovation’ has become a common word. It has progressively moved out of the limbo of the R&D facilities and made its way into business, politics, social life, educational system and media. Innovation is a process of changing or creating more
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The strategy of the A380 creation is that is perfectly designed for long distance flights and solving the challenges of greater traffic congestions. Commodious and comfortable seating area and the quietest cabin make it more desirable among passengers when given a choice. Lowest seat mile costs, expend capacity of A380 are advantageous characteristics for the airports to consider. As the result, Airbus’s market share enlarges, load factors and revenues increase. Therefore this enables airlines to profit by up to 50 per cent per flight, according to Airbus
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