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[1] When we think of innovation, we often think of new technologies. While they might be impressive, we should not use new technologies just because they are available. It is important to consider how the technology can improve our product or service and make a difference to our customer. Companies that produce cars, toiletries, household appliances, etc. often have a large research and development department to work on making their products better.
[2] By listening to customer feedbacks, we can get their opinions on how we are doing and find out about what it is that they want. We also need to be aware of changes in customer demands and keep up with the times. When fast food restaurant McDonald's realized that the market wanted healthier choices, they introduced fruit and salads, while removing the 'super-size" option from their
menus.
[3] Your business might be doing well, but there is no growth or development and there is a risk that your competitors might take away some of your customers. Innovation sometimes means developing
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