Importance and impact of innovating

Innovation is more than just creativity or new gadgets, it’s about creating commercial value for businesses and customers. This article explains the difference between incremental and radical innovation, and how both can benefit businesses. By innovating, businesses can gain a competitive advantage, attract more customers, increase market share, and ultimately achieve growth. Innovative companies are also better ranked among job seekers, and a happier workforce leads to a higher retention rate and improves a business’s image in the eyes of the customers. To stay ahead of the competition, it’s important for businesses to start their own innovation process and create an innovative culture that encourages employees to participate.