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- Market Share
- Special products
- value for the Company
Innovation is a double weapon specialy in the business of project type - like construction projects - also , medecines industry , because it's a long term contracts and the innovation can help or harm the project , and this is the importance of reserves - espicialy management reserves - which take into consederation unforseen risks
I think also sudden innovation can harm IT projects ... so it's very imortant to study the market place condetions and the competities .
The impact is huge, for example xarax company has been known for having innovation sector in which they made ethernet, mouse, and most of technology, Xarax are the mother o technology today and companies that staff used to work there like Apple and Microsoft, and the success of these companies proof that the impact is huge, also when time IBM used to sell main service cumputer, Sony released a new type of computer that is personal computer in which IMB ignored at start.
Innovation makes the compnay sales are bigger than another one as an example, especially when both of them have been started the business at the same time.
Innovation via " Good ideas " can help covering a problem in just little steps or can solve it from it's root.
Innovation via " improvement and development " results in the business becomes bigger, more money, more incentives to employees, more comfort work area, a normal rate from stress, good reputation to the company, high degree of trust to customers.
Innovation is priority number one in growing business.
Innovation process could lead to a distinct pattern of evolution for the product/services of the organization. The phases have to be strategic in order to result in the achievement of the favorable end monetary motives. Innovation in most successful Businesses worldwide serve as a Key ingredient and backbone.
Innovation is the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. This is accomplished through more effective products, processes, services, technologies, or Ideas that are readily available to markets, government and society.
