Evaluate  the importance of innovation for the long term survival for your chosen  company as well as the industry that your chosen company fits in.

Week 7 Assignment 3 | Business & Finance homework help

For any business to survive long-term, innovation is vital. Innovating allows businesses to keep ahead of the competition and create new products, services, or processes that are more efficient than current offerings. Innovation also drives efficiency improvements that are essential to stay competitive in an ever-evolving marketplace. It also helps industry evolve by implementing research-and-development initiatives that seek to resolve current issues before they grow into bigger problems later. Companies can make sure that customers are satisfied with their products and services, while positioning them for long-term viability by implementing innovative solutions.

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