ENTREPRENEURSHIP

Detailed explanation-1: -The Key Factors For Innovation Success Examination. Diversity. Collaboration. Creativity.

Detailed explanation-2: -Using creativity in business is important because it fosters unique ideas. This novelty is a key component of innovation. For an idea to be innovative, it must also be useful. Creative ideas don’t always lead to innovations because they don’t necessarily produce viable solutions to problems.

Detailed explanation-3: -Competitive advantage As already mentioned, for organizations the ability to get ahead of the competition is one of the most significant reasons to innovate. Successful, innovative businesses are able to keep their operations, services and products relevant to their customers’ needs and changing market conditions.

Detailed explanation-4: -Such factors include the activities of customers, competitors and suppliers; the labour market; legal, regulatory, competitive and economic conditions; and the supply of technological and other types of knowledge of value to innovation.