Leverage innovation to stay relevant in the market from "summary" of Beyond Entrepreneurship 2. 0 by Jim Collins
To stay relevant in the market, companies must constantly innovate. Innovation is not just about coming up with new products or services, but also about finding new ways to meet customer needs, improve processes, and stay ahead of the competition. Companies that fail to innovate risk becoming obsolete in a rapidly changing marketplace. Innovation is not always about big, game-changing ideas. Sometimes, small, incremental changes can have a big impact on a company's success. Companies should encourage a culture of innovation where employees feel empowered to suggest new ideas and take risks. By fostering a culture of innovation, companies can stay nimble and adapt to changes in the market more quickly. One way to leverage innovation is to invest in research and development. Companies that allocate resources to R&D are more likely to come up with new and inn...
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