The success of any organization in today's dynamic and highly competitive business environment, irrespective of its nature and size, depends on how fast it innovates and evolves - touching the expectations of customers. Failing to innovate will lead companies to nowhere. Every organization not just business needs one core competence: Innovation. Business is always full of mysteries. Today's correct strategy may become the wrong one tomorrow.
You never know. Things keep on changing by a fraction of a second in this part of the world. Similarly, success too is not an everlasting achievement. Creating a dominant position in the market and in the consumer's mind has become an immensely challenging task . Your position can be snatched away by your competitor in the very next second. There's no time to relax or bask in your success and there's no room for any laid-back attitude. You have to be alert all day and night to be in the reckoning.
In this scenario, the only way by which an organization can stay profitable and well ahead of its competitors is by continuously innovating its products /services to suit the ever-changing moods of its customers. It has been observed that there are only few organizations which are highly innovative, creative, and therefore, are successful in retaining their position in the market year after year. |
