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The process of innovation and transformation enhances business strategy by allowing organizations to stay competitive and relevant in their industry. It involves the development and implementation of new ideas, products, or methods that can improve the organization's operations or offerings. This process can lead to increased efficiency, cost savings, and improved customer satisfaction. It also enables businesses to adapt to changing market conditions and customer needs, thereby ensuring their long-term success.
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Without adequate innovation, you risk falling behind in even what you do well. So how can an organization ensure its business transformation endeavors...
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Once you pass through your business case and validation stages, you enter the back-end phases that are all about development and launch. Execs implement their innovations from setup to concept to pilot development, prototype and finally launch. Implement this successfully to turn any idea into reality — or save countless headaches developing something all the way to production that shouldn't have even made it past the first phase.
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