Self study 7 Task 1What is innovation ? Explain answer with examples

Self study 17
Task 1
1.1What is innovation ? Explain answer with examples.
Innovation is the systematic practice of developing and marketing breakthrough products and services for adoption by customers.
When you think of innovation, what springs to mind? Maybe it’s a flashy new gadget—but don’t be mistaken. There’s much more to the world of innovation, which extends far beyond new products and things you’ll find on a store shelf.
If products alone aren’t the full story, what is innovation? In a business context, innovation is the ability to conceive, develop, deliver, and scale new products, services, processes, and business models for customers.
Successful innovation delivers net new growth that is substantial. As McKinsey senior partner Laura Furstenthal notes in an episode of the Inside the Strategy Room podcast, “However you measure it, innovation has to increase value and drive growth.”
As important as innovation is, getting it right can be challenging. Over 80 percent of executives surveyed say that innovation is among their top three priorities, yet less than 10 percent report being satisfied with their organizations’ innovation performance. Many established companies are better operators than innovators, producing few new and creative game changers. Most succeed by optimizing existing core businesses.

Task 2
2.1 Translate the following words and make up sentences with either of them:
1.operating costs
2. promotion
3. recession
4. recruitment/hiring/employment
5. redundancy
6. referee
7. reference
Answers
1.operatsion xarajatlar
2. ko‘tarilish
3. tanazzul
4. ishga qabul qilish/yollash/ish
5. ortiqchalik
6. hakam
7. ma'lumotnoma

1. 
   Operating costs are the ongoing expenses incurred from the normal day-to-day of running a business. Operating costs include both costs of goods sold (COGS) and other operating expenses—often called selling, general, and administrative (SG&A) expenses.
   
2. 
   In marketing, promotion refers to any type of marketing communication used to inform target audiences of the relative merits of a product, service, brand or issue, most of the time persuasive in nature. 
   
3. 
   Recession, in economics, a downward trend in the business cycle characterized by a decline in production and employment, which in turn causes the incomes and spending of households to decline.
   
4. 
   Recruitment refers to the process of identifying, attracting, interviewing, selecting, hiring and onboarding employees. 
   
5. 
   Recruitment is the process of actively seeking out, finding and hiring candidates for a specific position or job. The recruitment definition includes the entire hiring process, from inception to the individual recruit's integration into the company.
   

7. reference (также: advice, convocation, council, counsel, hint, piece of advice, recommendation, senate, suggestion, synod).