business innovation involves improving new products or developing existing technologies,process,designs and marketing to solve problems and reach new customers. As it depend on five pillars. And also there are 7 ways to start business innovation.
4. Innovation business depends on :
• Institutions
• Human capital and research.
• Infrastructure.
• Market sophistication.
• Business sophistication.
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5. Nurturing innovation.
• Set the goals. (short and long term).
• Set budgets.
• Advertise in the organization.
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6. 7 ways to start business0innovation
Realize that innovation can be simple.
Build innovation into your business routines.
Actively solicit suggestions for improvement of your small
business’s processes and products.
Involve staff in the innovation process.
Invest in innovation.
Cultivate an innovation mind set.
Investing Scientific researches and experimental possibilities
for your business.
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