innovation is the key to success of any entrepreneur explain why
Answers
Answer:
Explain 2 reasons why inovation is imp for a business....
Explanation:
Innovation helps you stay ahead of the competition. With globalization and a rapidly changing market, there are more competing businesses than ever before. Innovative thinking can help you predict the market and keep up with customer needs. If your business doesn’t innovate, you’ll watch innovative companies bring new ideas to the marketplace, and you’ll have to scramble to keep up.
Innovation helps you take advantage of new technologies. Technology (and especially artificial intelligence) is evolving faster than ever before, which means that there may be new, more efficient technologies to make better products, to offer your services, to market your business, or to track your performance with analytics. By taking advantage of these new technologies for process innovation, you’ll be able to optimize your business and gain a competitive advantage over your competitors.
We are asked to comment on the statement that innovation is the key to the success of any entrepreneur. The reason why we say this is as follows:
- Innovation is a very important part of any business.
- A business that is doing well needs some kind of innovation to keep it growing.
- Innovation means new or fresh ideas to connect with as well as change the business in accordance with the current trend.
- If a successful business is not supported by changes or new ideas often, then the business stagnates and does not grow.
- Innovation of the entrepreneur is the key to success.
PROJECT CODE: #SPJ3
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