Innovation is a key driver of longterm success from "summary" of Competitive Strategy by Michael E. Porter
Innovation plays a crucial role in achieving sustained success within an industry. It serves as a catalyst for growth and differentiation in the marketplace, enabling companies to stay ahead of competitors and meet the evolving needs of customers. By continually introducing new products, services, or business models, companies can create value and capture market share in a dynamic environment. Furthermore, innovation allows companies to adapt to changing market conditions and technological advancements. It enables them to respond to competitive threats and disruptions, ensuring their r...
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