Activity Based Innovations For Uk Manufacturing Sector Essay

Activity Based Innovations [Name of the Writer] [Name of the Institution] Activity Based Innovations in UK Manufacturing Sector Introduction The addition of technological advancement in the business has increased the competition very much. There are several companies that rely totally on the technological development as that helps them control the cost and produce a high quality product. The current environment of the business demand that this advancement should be added to all the factors of the organizations like products and services, processes performances and costs, and all other organizational activities. It is one of the main aims of the company to produce products that are demanded by the customers but on the other hand they should yield profit as well. If a product has high demand as well as very high cost, the company might not produce such product if it fails to earn profit in that. Many companies on the other hand, use their cost systems to analyse which part of the company needs assistance and improvement. It is also very important to mention that the cost is a factor that can help the organization denote the changes needed in the product’s price, service, quality, product’s features and any other factor related to customer. So, the cost, having such great importance, should be added with the innovation aspect in order to improve the outcomes a company can get from the cost. There are many companies that do not rely on the cost system andShow MoreRelatedThe Role Of Governments Play An Important Role Of Business Innovation1296 Words   |  6 Pages ‘Governments play an important role in business innovation.’ Discuss in relation to two sectors. Introduction It is a common notion that it is primarily the private sector that drives innovation and economic growth, while the government, at best, plays only organization role in ‘fixing market failures’. 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