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Essay On Importance Of Innovation

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The importance of innovation Erik Lenders Hyueju Kim Romano Kasl What is Financial Innovation In this age of unlimited competition, the goal of business is survive and store the nutrients for the survive. In a good word, it is sustainable growth. If the company consider sustainable growth importantly. They can’t ignore the ‘innovation’ lightly. The origin of innovation is NOVA and it means novices. According to this, innovation can be a new star or immature. Innovation is the process which create new customer value and delivery in the market. So the objects and results of innovation is value. Therefore innovation must be the value of innovation. From here the value is customer’s. If we want to create customer value we have …show more content…

And this is where innovation comes into play. Innovation can help a country to better manage its resources in certain ways so it can achieve that increase in productivity. Think for example about the printing press, this was an innovation of immense impact that changed the world. Knowledge had always been scarce prior to the release of the printing press due to knowledge being only available to the upper classes; books were still hand-written which made them rare. Although presses already existed, this new printing improved on the idea of the old presses and made them better and faster in every aspect. The printing press made books available to all classes of civilians by greatly reducing the price of books. Because of this, many new ideas could be shared and thus the printing press helped our ancestors advance to the age of enlightment. Just think of what the printing press did to the wealth of the first few countries that started to use it. Lower classes of the civilisation were able to advance much quicker up the ranks than other countries which resulted in a wealthier country

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