Question

Identify a business in your area which became successful due to innovation. Write about the role played by innovation in its success

Answer 1

Answer:

Innovation is a very important factor to ensure consistent growth for a business from a future point of view. It has a lot to do with adding newer business models and products that provide an impetus to the overall revenues in the future. Innovation that is sustainable also helps ensure that current products continue to meet the customer demands and also contribute to the revenue growth in the future. A business that is ready to innovate can stand firm even if the market experiences constant vagaries. Such a business is ready to face any challenges that future market changes can bring in.