Jack Welch, former chairman and CEO of General Electric, put it best: 'If the rate of change on the outside exceeds the rate of change on the inside, the end is near.'
With winning and losing at stake, innovation is one of the primary drivers of growth and profitability in business today, sitting at the top of many executive agendas. Why? Most companies recognize that efficiency, cost-cutting, and world-class operational performance alone don't differentiate them from competitors in the eyes of customers. They don't provide a competitive advantage in today's challenging global markets, either. The fact is, consumers and businesses alike reward innovation. Plus, businesses that fail to innovate run the risk of losing ground to competitors, losing key talent, or simply operating inefficiently.
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