Explain the difference between invention and innovation (4marks)
What will be an ideal response?
Answer: The main difference between invention and innovation is that invention deals with creating a product for the first time and the innovation deals with making changes to the existing product and improve the efficiency and make it attractive to the end users. Apple is the best example for the innovative company because they popularised portable music with their iPod. The portable music systems were already there from Sony but Apple make changes and improved the product. We can take Google as an example of the invention as they created the search engine and made the world a small place. It is very important for an organisation to know the difference between the two because what a company wants to do depends totally on what the company wants to achieve. Here, I totally agree with Mr Kuamar and I would ask him to innovate using the same drink and create a few more drinks keeping the same price tag. This would help him in knowing whether the consumers wanted to try different flavours of the drink instead of investing a lot of money into developing a totally new product and then fail in the market. The financial situation and engineering expertise of the company matters a lot and it actually decides whether a company can invent or innovate.
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