Seeking Opportunities for Innovation (Essay Sample)

Seeking Opportunities for Innovation
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Seeking Opportunities for Innovation
Entrepreneurial organizations constantly pursue expansion and success while operating in unpredictable markets characterized by continuous change. As situations obligate, innovation has been instrumental in bettering an organization’s operation models and survival chances. From a business perspective, innovation follows the premise that products, ideas, and strategies that an organization applies must solve current and emerging problems. Some of the reasons for innovation include catalyzing organizational growth, enhancing competitiveness, enabling organizations to meet emerging customer demands, and helping them to attract and retain the best talent.
Innovation enables an organization to grow through evolution. Business organizations that readily innovate scale up quickly and can attract highly dynamic employees than their slow competitors (Gans & Leigh, 2019). Innovative organizations get a better opportunity for winning and retaining customers since their products or services are improved as situations compel. Through persistent innovation, organizations replace inefficient processes with more productive ones that enable them to provide quality within their range of products or services. This gradual newness of organizations helps them to evolve. In the process, growth is inevitable due to the returns gained by consistent customer satisfaction.