Organizations pursue innovation because it

Question

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Innovation is positively linked to improved firm performance. An organization that pursues innovation is more likely to generate new ideas, products, and services that can better meet customer needs and differentiate the organization from competitors, ultimately leading to improved performance. While innovation may not guarantee competitive success, it does increase the likelihood of success and supports long-term viability in the marketplace. Additionally, innovation can be challenging to implement, but it is often necessary for organizations to adapt to changing market conditions and stay ahead of the competition.

Organizations Pursue Innovation Because It