Question

Think of an innovative idea, which you could use to start a business. Next, describe three (3) key aspects of your innovative concept and define the nature of the change as either radical or incremental. Explain the rationale for your selection.

Answer 1

There are various businesses which you can start but I will choose to start a business of opening a restaurant. But the thing is soo many people open a restaurant but shut down within an year.  

Key aspects are:

1) Business Location:

This point states that if you want to open an restaurant then it's location matters alot. Opening a restaurant in any area where people hardly comes will lead to shut down your business. You need to find a crowded place where people will see your restaurant and visit there. You should try to open your restaurant near to a marker place.

2) Good and healthy Food:

This point states that your business will run successfully when you will have a good and healthy food in your restaurant. People will only come in your restaurant if they find your food tasty. Having a good taste will have a great impact on your business growth.

3) Can work online:

This point states that you can growth your business online too. If your business is running successfully well offline then you can also choose an option to deliver your restaurant food to people online.

Opening a restaurant is Radical in nature as it defines the startup of a business. Technology also plays a crucial role in this business as if you want you can grow your business online too. Rationale of opening a restaurant is to provide customer's satisfaction and good food so that they will come back to you every time. This will make your Goodwill in the market and your business will flourish in future.

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