The Key to Scalability in Three Innovations

BANGALORE: Several websites, businessmen and experts have made lists that lead to success of a business. Before any new venture, the only find out on which the entire business depends is the innovative factor it has. It is the new factor in your product or service along with quality that determines the life span and cycle of a business. Innovation can be forced in a business idea keeping a pace with the customer expectations. It is innovation that primarily sets the competitive advantage of the product. As per Economic Times, here are the ways how innovation can really bring in a difference to your business:

An Innovative Business Model:
Innovation can be implemented at various stages of a business. From location, product to marketing-innovation is a key ingredient. Again, innovation can be integrated throughout the business by opting a completely business model. For instance, Indian e-commerce companies initially started with an inventory led business model. But as one of these sites got success adopting marketplace model, the rest followed the trend. Innovation in the business model sets fortune for a business.

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