UNV 504 Topic 4 Final - 1630 Words

College of Business Pillars Edgar Martinez Grand Canyon University Introduction to Graduate Studies in the College of Business Tanya Roundtree May 13, 2015 As one of the top-rated, premier business schools available in the United States, within the southwest region, you will find the ACBSP accredited Grand Canyon University (GCU) nestled within the Arizonan desert in Phoenix. Their mission statement incorporates; Challenge which inspires its thousands of students to be better servant leaders with cutting-edge business skills and values that are vital to driving organizational success and to have a positive impact within society. The University offers quality education through its academic excellence and relevant†¦show more content†¦Alongside the entrepreneur spirit, Innovation is the process of taking new ideas and implementing them into the market. Key word being â€Å"new†, an innovation can be sometimes viewed as the application to better solutions that meet new demand-requirements, inarticulated needs or existing market needs. Innovative ideas range from: goods, services, products, processes, services, technolo gies or ideas that create value for which customers will pay for. For an idea to be an innovation, it must be replicable at an economical cost and must satisfy a specific need. This means is that one must be ready and willing put their new idea to the test. On the other hand, there is recognition that â€Å"innovation is also critical to cultural, environmental, social, and artistic progress as well† (Bullinger, 2006). With this stated, high-tech innovation is ultimately the reason why we can be thankful for the many new conveniences of the 21st century. Although we might see the forefront of innovation being very prominent in today’s world, innovation is truly nothing new. From the start of modern man times, innovative ideas have paved the way for civilization to advance and develop into what we are today and at the same time, we have barely begin to chip away at the tip of the iceberg of our true human potential. Some scholars believe that innovation is a