What is Innovation? Simply defined, innovation is Business Creativity that contributes to organizational value. This value might take the form of cost savings, increased profits or market share—or groundbreaking new-market dominance. Regardless, innovation itself involves risktaking: there must be a reason to look at change, to upset the apple cart. The impetus can vary from proactive concerns regarding competitive positioning to fears about survival. Companies that have clearly designated heads of innovation now include 3M, Cargill, Apple and Bristol-Meyers Squibb.
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