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You must individually, answer the following questions in full to show your competency of each element:
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Compare the business with competitor businesses
Identify business opportunities for innovation and reform
1.This Task will require you to identify and decide on the merits of two innovative opportunities. You should evaluate the business markets and prospective customer bases for the opportunities and ensure that they are viable. It will also be necessary to carry out a cost-benefit analysis and make recommendations based on your findings. You should develop an implementation plan for the innovation that you think offers the greatest benefit to a business. Finally you should highlight the ways in which the innovation is monitored and any measures of success.