Innovation: a survival strategy for companies
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Abstract
This article aims to show that innovation—the creation of new products, new services, new ways of achieving higher quality at lower costs, and new processes—has become the most urgent need for businesses. Innovation is not only a source of business creation; it also constitutes the basis for their survival, growth, and development. It is postulated, however, that for innovation to flourish, comprehensive and flexible planning processes are required; plans that allow organizations to move quickly so they can develop ideas and take advantage of them. It is anticipated that this will only happen if organizational leaders are willing to adopt innovative behavior and lead their organizations along that path.
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