Why would you invest time and effort in something new as an entrepreneur, while what you are using works perfectly? Research shows that innovative businesses are twice as profitable on average compared to other businesses. So to many businesses this is the biggest motivation for innovation.
What is so important about innovative products?
– The competitive position
– Distinctive ability
– Increasing labour productivity
As a company, you have to keep innovating in order to maintain your position on the market and to retain added value. If you want to able to keep serving your clients, you will have to move along with their requirements. Businesses that do not focus on innovation will lose their competitive position and ultimately their right to exist.
By producing in a more sustainable and efficient manner, it will be possible to increase the quality of the labour product in a cheaper and more environmentally conscious way. Regeneration is a good example of this.