Advanced Entrepreneurship
This was an A paper
Innovation is an introduction of something that is new. The new product could be a fresh product method, idea, service, and it could even be a device. However, to consider it innovation, it also has to be a replica as well as cost-effective price at the same time it needs to satisfy a specific need (Brianna, S 2013). Occasionally, innovation happens when a company is trying to meet their needs or their expectation of their customers, therefore they will interpret their inventions otherwise their ideas into something that they will be able to make a value (Brianna, S 2013). Innovation will permit the business to stay competitive in today’s global marketplace. However, innovation does come with risk. There are a lot of products and services that have changed the way that we live today. Viagra is one that would be innovation. Viagra was an accidental innovative product. This product was a Godsend medication for quite a few folks. Viagra was originally made for folks that have hypertension but had been found to be a very effective treatment for men, which they suffer from erectile dysfunction (Lambing, P A and Kuchl, C., R., 2007).. The little blue pill will help a man to take control over his sex life. Throughout the first phase of the clinical trials, the Viagra had shown little effect on what the pill was intended to be used for, other than it had induced penile erections. Throught the second phase of the clinical trails, they had decided to through and use the Viagra for the use of erectile dysfunction. Once the pill had become patented in 1996, as well as being introduced in the United States. Viagra had been approved for the United States on March 27, 1998 as a erectile dysfunction (Pamham., M., J., 2004). The approach to introduce the Viagra pill was intrapreneurship. The creater of the pill was two men named Albert Woods and Peter Dunn in which they had worked at a pharmaceutical company, Pfizer. Some of the advantages in
Innovation is an introduction of something that is new. The new product could be a fresh product method, idea, service, and it could even be a device. However, to consider it innovation, it also has to be a replica as well as cost-effective price at the same time it needs to satisfy a specific need (Brianna, S 2013). Occasionally, innovation happens when a company is trying to meet their needs or their expectation of their customers, therefore they will interpret their inventions otherwise their ideas into something that they will be able to make a value (Brianna, S 2013). Innovation will permit the business to stay competitive in today’s global marketplace. However, innovation does come with risk. There are a lot of products and services that have changed the way that we live today. Viagra is one that would be innovation. Viagra was an accidental innovative product. This product was a Godsend medication for quite a few folks. Viagra was originally made for folks that have hypertension but had been found to be a very effective treatment for men, which they suffer from erectile dysfunction (Lambing, P A and Kuchl, C., R., 2007).. The little blue pill will help a man to take control over his sex life. Throughout the first phase of the clinical trials, the Viagra had shown little effect on what the pill was intended to be used for, other than it had induced penile erections. Throught the second phase of the clinical trails, they had decided to through and use the Viagra for the use of erectile dysfunction. Once the pill had become patented in 1996, as well as being introduced in the United States. Viagra had been approved for the United States on March 27, 1998 as a erectile dysfunction (Pamham., M., J., 2004). The approach to introduce the Viagra pill was intrapreneurship. The creater of the pill was two men named Albert Woods and Peter Dunn in which they had worked at a pharmaceutical company, Pfizer. Some of the advantages in
References: Brianna, S (2013). Retrieved August 30, 2013 from: Lambing Pegy A and Kuchl, Charles R. (2007). Entrepreneurship (4th Edition). Upper Saddle River, New Jersey: Prentice-Hall Retrieved September 1, 2013 Pamham, M., J (2004) Viagra A Chronology, Viagra MD. Retrieved September 1, 2013 from: http://www.about=ed.com/viagra-history