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Itm - Book Report/Review Example

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Global business environment is becoming highly competitive as several leading domestic and multinational organisations are trying to implement unique strategies in business operation process in order to gain potential competitive edge over their rivals. Several leading…
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Download file to see previous pages It is true that several organisations are implementing new strategies based on the application of modern and advanced technology in order to compete with their rivals. Rapid technological change and competitive business environment made it important for the organisations around the globe to develop the potentiality of innovation within the firm.
Demand for differentiated and high quality products and services have increased significantly among the consumers across the world right after the Second World War. Concept of globalisation has been introduced in this world in post Second World War era. Each and every organisation is trying to develop consumer centric business operation strategies as the business environment has become highly competitive since the end of Second World War. Presence of huge competition has forced the management of several leading domestic and multinational organisations to develop and implement innovative ideas to get success in business operation activities. Innovation in business operation process helps an organisation meet customers’ level of needs and expectations. Several internal and external barriers to innovation can hamper the business output of an organisation. It is important for the organisations to identify, evaluate and rectify those issues in order to enhance innovative strategy development process that can help an organisation to gain potential competitive environment within specific operating industry. It is true that the management of several organisations need to evaluate their innovative potential and into several barriers to innovation to develop effective proactive business operation strategies. This report will identify the innovative strategies implemented by firms and barriers to innovation. Finally, the report will recommend several strategies to overcome those barriers.
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