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What is innovation, and how can it benefit your company?

mjvinnovation

Incremental innovation: additional development and/or optimization of existing products, services, or models. Radical innovation: implementing completely new ideas into products, services, or business models. They have the most significant impact because new markets or customer needs may arise from this innovation; ?

Company 40
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When innovation led to a reversal of fortunes

hackerearth

Huge layoffs and millions of dollars in losses drove the company to adopt a business strategy that focused on capabilities. Lego overcame its near-demise situation when the then president, Kjeld Kirk Kristiansen, decided that innovation was the only way out in 2001. Their producing tons of bricks inside-the-box strategy didn’t work.