Innovation and Its Importance for Business Performance

The video discusses the concept of innovation, its importance for business performance, and how it can lead to competitiveness, growth, and diversification. It explains the forms of innovation, such as process and product innovation, with examples from companies like Zara and Samsung. The video also highlights the challenges and costs of innovation, emphasizing the need for careful planning and investment. Finally, it explores the impact of innovation on various business departments, including finance, HR, operations, and marketing.

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