BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Initiative and Innovation help businesses gain the competitive advantage by
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finding a market where you can sell things
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finding a niche
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finding a niche in the market and gaining more consumer support
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finding more consumers
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Explanation:
Detailed explanation-1: -Product innovation provides differentiated competitiveness in terms of quality and function, which offers incentives for customers to choose. This allows companies to win competition, secure a market-leading position, and create market performance by attracting new customers [30].
Detailed explanation-2: -Creativity and innovation improve an organization’s problem-solving ability. Actually, it doesn’t matter if we’re talking about developing a new strategy or an innovative way to stay ahead of the competition. Creative problem solving gives that competitive edge that any business seeks to achieve.
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