Explain How the Concept of Innovation Streams Relates to the Concept

question 31

Essay

Explain how the concept of innovation streams relates to the concept of sustainable competitive advantage. Give an example of how this occurs in the business world.

---

Definitions:

Volume Variance

The difference between the expected amount of output at the standard cost and the actual amount produced, measured at the standard cost.

Direct Labor-Hours

A measure of the total hours worked directly on the production of goods.

Budget Variances

The difference between budgeted and actual figures for revenues or expenditures, indicating under or overspending.

Underapplied

A situation where the allocated manufacturing overhead costs are less than the actual overhead costs incurred, leading to underestimation of product costs.