Topic notes
Innovation applies a new or improved idea to solve a problem. Use observation, customer evidence, prototypes and feedback. Social entrepreneurship considers social value as well as operational viability.
Applied example
Prototype two package designs, seek feedback from target customers and revise based on evidence.
Case study and practice
- Identify the opportunity or business issue.
- Name one assumption and evidence that could test it.
- Recommend an action, explaining its expected value and one risk.
Revision
Use an example, define the business term and distinguish assumption from evidence. Project claims should be based on research and cited sources.