Complete an essay which demonstrates understanding of the academic study of innovation and its importance to the business world.

Complete an essay of 4,000 words which demonstrates understanding of the academic study of innovation and its importance to the business world, refer to your tutorials for exact instructions.

In your answer please ensure that your essay has a strong academic foundation including theory, empirical evidence and references. If you use material from case studies or company websites remember that these need to be properly quoted and referenced just like all other materials.