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Business Ideas Forum
Business strategy
Importance and practical steps businesses can innovate.
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[QUOTE="CALVINDOL, post: 288416, member: 43757"] Unfortunately majority of business organisations are still using manual or ancient ways of business practice, and that possibly could be the reason why the business isn't developing or growing but instead the business growth and development is stagnant. The reason for business innovation can totally play an important role in the growth and development of businesses, however for business to innovate they must understand the need and be convinced of the reasons why they need to do so. When a business innovate, it creates more incentives in the generation of profit and income. Buying business machines and equipments and definitely be a way for business to innovate, and the results is so as to be able to assist employees and workers in performing their duties and roles as well as accelerate the pace in which clients and customers are being attended to. The use of machines and equipments in business organisations is a great form of innovation, which definitely help to reduce the rate of manpower and the rate of labour involved in the practices and activities of the business. Other forms of innovation in business organisations include: use of online advertisements, creating personal website for the business, and adopting computerized method of data keeping and processing. A business that cannot afford capital project innovation, small innovations that can possibly undertake, include: branding and packaging of goods in order to give a sense of modernity and professionality to customers and clients who are purchasing them. [/QUOTE]
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Importance and practical steps businesses can innovate.
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