Jessica_Clifton_ BUS508_assignment 2

Jessica_Clifton_ BUS508_assignment 2 - Absract Change is...

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Absract Change is one of the one few definate facts of life, with out change many things would become obsolite. Peter F. Drucker describes innovation as the specific instrumrnt of entrepreneurship, he calls it the act that endows resources with new capacity to create wealth. Inovation is key to our everyday lives webseters defines it as change that creates a new dimension of performance. According to Business week; t oday, innovation is about much more than new products. It is about reinventing business processes and building entirely new markets that meet untapped customer needs. Most important, as the Internet and globalization widen the pool of new ideas, it's about selecting and executing the right ideas and bringing them to market in record time. In the 1990s, innovation was about technology and control of quality and cost. In todays world it's about taking corporate organizations built for efficiency and rewiring them for creativity and growth. "There are a lot of different things that fall under the rubric of innovation," says Vijay Govindarajan, a professor at Dartmouth College's Tuck School of Business and author of Ten Rules for Strategic Innovators: From Idea to Execution . "Innovation does not have to have anything to do with technology." Leonard Riggio, the company's chairman, began his bookselling career while attending New York University in the early 1960s. Working as a clerk in the university bookstore, he became convinced that he could do a better job serving students, and he opened a competing store of his own. With a small investment, Mr. Riggio established the Student Book Exchange (SBX) in Manhattan's Greenwich Village in 1965. The store quickly became one of New York’s finest bookstores, known for its knowledgeable staff, wide selection and great service. By the 1970s, Mr. Riggio’s thriving business, which included six other college bookstores, acquired the flagship Barnes & Noble trade name and flagship bookstore in Manhattan, which had fallen into decline. Within a few years, Mr. Riggio transformed the Fifth Avenue store into "The World’s Largest Bookstore," with 150,000 textbook and trade titles. Mr. Riggio’s commitment to students continues today through Barnes & Noble College Booksellers, a wholly owned subsidiary of Barnes & Noble that operates more than 600 college bookstores on college
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and university campuses in 50 states, serving nearly 4 million students and more than 250,000 faculty. Innovations Throughout the 1970s and 1980s, the company made a number of groundbreaking moves. In 1974, Barnes & Noble was the first bookseller in America to advertise on television. Aired in the New York market, the Barnes & Noble “Of Course! Of Course!” commercials won awards and were so memorable that customers still recall them. In 1975, the company took a bold and audacious step by becoming the first bookseller in
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This note was uploaded on 07/17/2011 for the course BUS 508 520 taught by Professor Na during the Spring '11 term at Strayer.

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Jessica_Clifton_ BUS508_assignment 2 - Absract Change is...

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