Why is innovation so important?

Developing products and / or services that people are willing to buy is the foundation of any business.

But when to develop new ones and when to concentrate on those that you already have is challenge.

This is where ‘innovation’ decisions can be complex. I have mixed views on this subject because:

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Taking your market for granted (or how to fail slowly in business)

Ever wondered why different companies do different things? It’s not just because they perceive different opportunities, though this is likely to be the case. It’s mainly because different companies are able to excel at different things.

So, the fact that there is a market out there for something that you want to do is great. But it is no guarantee of success. That market may choose to buy from others.

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