The Importance of Innovation and its Need for Businesses
Remember Blockbuster? It was the most significant movie rental service of the 1990s. Yet it is no longer around. This is because it did not pay heed to the importance of innovation. Netflix began as a small business, and today’s Netflix market value now stands at $32.9 billion. Even regulated industries, such as taxis […]
The Innovation Process: Importance, Steps, Types, Examples, and Risks Involved
What is the Innovation Process? Innovation refers to the introduction of a new quality of a good or a new good, market, method of production, source of supply, and organization in an industry. The most promising thing about the innovation process is being able to actualize an idea into a successful concept. In this […]