7 . Business innovation is an organization’s process for introducing new ideas, workflows methodologies, services or products. Like IT innovation, which calls for using technology in new ways to create a more efficient and agile organization, business innovation should enable the achievement of goals across the entire organization, with sights set on accomplishing core business aims and initiatives. Innovation often begins with idea generation, wherein ideas are narrowed down during brainstorming sessions, after which leaders consider the business viability, feasibility and desirability of each idea. Business innovation should improve one existing products, services or processes; or it should solve a problem; or it should reach new customers. Recent examples of business innovation include the introduction of the Dyson vacuum cleaner, whose creator and namesake James Dyson declared in advertisements that he set out to build a better product by applying industrial cyclone technologies to the household appliance.

The purpose of the business innovation process is to create value for the organization. That value can come from creating new revenue opportunities or driving more revenue through existing channels; from creating efficiencies that save time, money or both; or from improvements to productivity or performance. In short, innovation should lead to higher profits. Additionally, the results of an organization’s innovation process should yield a competitive advantage; it should help the organization to grow and reach — or, better still, exceed — strategic objectives.

Innovation and invention are closely linked, but the two terms are not interchangeable. An invention is an entirely new creation. The process of business innovation can produce an invention, but the term is broader in scope and includes the application of an existing concept or practice in a new way, or applying new technology to an existing product or process to improve upon it. To better understand the difference, consider this: The telephone is an invention, but the smartphone is an innovation.

Business innovation can also be classified as either revolutionary or evolutionary. Revolutionary business innovation yields a drastic change in a product, service, process, etc., which often destroys or supplants an existing business model. This is also known as radical Evolutionary or incremental innovation involves smaller, more continuous innovation, improvements that, while important, are not drastic enough to shift a company or market into a new paradigm. Disruptive innovation is a category that emphasizes the destructive aspect of revolutionary innovation; this term applies to business innovation that leads to the creation of a new market that displaces an existing one or, similarly, a significant upheaval in a category of products or services.

Business innovation, like most business initiatives, has both benefits and risks. Organizations should recognize on the negative side that the business innovation process can be a costly undertaking that does not always produce a return on investment (ROI); that idea considered likely to succeed could still fail; and that stakeholders could fight the changes required to be successful. On the other hand, organizations need to weigh those risks against the benefits of business innovation.

Should Writers Be Paid for Their E-books Lent by Libraries?

When libraries lend books to the public, authors and publishers receive remuneration from the Government under the Lending Rights schemes.     1     Is this fair?

This year, the government has distributed almost a $ 22 million under these Public Lending Rights and Educational Lending Rights Schemes. For each book in public library collections creators receive $2.11 and publishers receive $0.52.

The amount that each claimant receives is often not very significant, with the majority of authors receiving between S100-500 annually, Still, a previous study has revealed that this remuneration constitutes the second most important source of income for creators from their creative work.

E-books, however, are not covered by these Lending Rights schemes.     2     But e-book lending is increasing and, according to the Australian Library and Information Association, e-books are likely to reach 20% of library holdings by 2020. Also, most, if not all, self-published titles are done so in digital format only. Such self-published titles, if lent by libraries ,would not qualify for any remuneration.

    3    Although the Book Industry Collaborative Council made such proposal already in a report of 2013 , nothing has happened of yet.

One of the main reasons why e-books are not covered is that e-book lending is quite different from print book lending. In case of print books, authors and publishers are arguably losing on customers and revenues when libraries loan their books for free.Creators only receive $2.11 and publishers receive $0.52 for each book in public library collections.

At present, in the case of e-books, many publishers chose not to sell these books to libraries.     4    

While publishers charge libraries high prices for e-books, writers complain that these amounts do not reach them. Publishing contracts often don't specify whether and how much authors receive for e-books sales or for e-lending.

9 . Directions: Fill in each blank with a proper word chosen from the box.   Each word can be used only once. Note that there is one word more than you need.

Communication — a thing of the past?

We all think we communicate all the time, and that’s true. There’s also non-verbal communication you could add into the mix — everything we’re saying when we’re not saying anything. But there’s a(n)     1     between saying things to people, or liking and sharing a post on social media, and communication. I’m quite well connected — there’s Twitter, Facebook, Instagram, Snapchat, email, iEverything, but sometimes communication starts to feel like a chore. Check this blog post, read that article someone shared,     2     back to someone else, and answer their questions… Sometimes I feel like a cross between Siri and a mad juggler. Nothing seems to go in and I’m always mixing people up — asking someone how their band is going when they can’t play an instrument or how the job search is going when someone’s just written to say how depressed they are that they can’t find a job.

So it was quite a(n)     3     to spend New Year in the Highlands in Scotland with no phone signal, no internet and no ‘communication’ at all, apart from with the people I was with. Suddenly all the pressure to communicate disappeared. All of our conversations became slower, more inverted and far more interesting. We were a group of 12, a(n)     4     of couples and friends, only one of whom I was at university with, so I was meeting a bunch of new people for the first time. Our conversations veered towards the banal and the humdrum in that we often discussed our plans for the day and what we were going to cook in the evening, but often they went a lot farther and a lot deeper. Tucked up on the leather sofas,     5     dinner, we dissected Brexit and one person even changed their     6     entirely! We shared ideas and theories, plots of books and plays and city trips we’d been on, described family troubles and gave advice, listened to work scenarios and offered pointers, and we had to talk and sketch and use words more than ever before, because you couldn’t say, ‘It’s a great film, you should google it later.’ Some of us even had sore throats from talking so much! In such a short     7     of time, due to the proximity of sharing interconnected cottages and verbal communication, I felt much closer to the new people I’d met and been speaking with than some other people I communicate with in my normal life.

I don’t think our common, current methods of communication come close to being in a small house with lots of people and having to communicate     8    . The brevity of Twitter, the showiness of Facebook, all these aspects contribute to a shallow form of communication that doesn’t challenge you to     9     your feelings and motives enough. ‘Liking’ something is an instant response but what does it really say about your opinion of something? It’s a(n)     10     response to millions of other people, whereas you and your thoughts are unique. If we’re not careful, perhaps we might forget how to communicate on a deeper lever.