What is corporate innovation?

by SMEBOOK (admin) ยท March 1, 2020

Corporate innovation is the need of the business where the organisations rethink and reinvent their business models in order to survive and succeed in the dramatically changing business environment. Achieving corporate innovation may be done in two ways- either creating new products/ services/ markets, like Apple did to the consumer electronics market, or innovating and modifying the preexisting so that they become exciting for the market again, for instance, Netflix reinvented the brick-and-mortar DVD rental to an entirely transformed entertainment streaming service.

What is corporate innovation?

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