Examlex
Explain the ways in which diversification adds value.
Managerial Innovation
The introduction of novel management practices, processes, or structures that aim to improve organizational effectiveness.
Innovative Ideas
New, unique, or creative concepts that have the potential to bring changes or improvements.
External Environment
Events and conditions surrounding an organization that influence its activities.
Open Innovation
An approach where companies are encouraged to adopt both internal and external ideas, along with using both internal and external routes to reach the market, in order to further their technological progress.
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