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Innovation in context of business, can be refers to as the procedure of bringing improvement in existing goods or services. It can also be defined as organisational or business process which includes introducing as well as implementing new ideas, methodologies etc. Innovation is important as it assist an organisation in increasing efficiency and helps firm in improving business performance. The objective of innovation is to support an organisation in fostering growth and renewing business. Innovation is also facilitated by an organisation for identifying new source of income generation. It can be considering by firm in order to bring drastic as well as positive change at workplace.
The purpose of the report is to develop the understanding about the process as well as importance of innovation. It also emphasizes on predicting the future of an industry in which virgin mobile company is operating its business. Some strategies will be suggested in the report which can be used by firm for increasing future innovation capabilities. Report will have focus on identifying requirement of innovation by an organisation. It will also analyse the significance of organisational knowledge transfer. Study emphasizes on determining the way firm and leaders can successfully plan as well as implement innovation at
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Global Assignment Help Australia. [Internet]. Global Assignment Help Australia.(2023), Retrieved from: https://au1.globalassignmenthelp.com.au/free-samples/innovation/bm627-managing-innovation-in-business-virgin-mobile
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