Discuss Innovation Strategy,cost-Minimisation Strategy,and Imitation Strategy

question 10

Essay

Discuss innovation strategy,cost-minimisation strategy,and imitation strategy.

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Definitions:

Intervention

An action taken to improve a situation, especially a medical procedure or a social or psychological support measure.

Creating Hypotheses

The process of forming testable statements or predictions based on theoretical insights or observations.

Observation

The process of monitoring or noting phenomena with the aim of collecting data or arriving at conclusions.

Application

The act of putting something to use or implementing a concept, method, or device for a particular purpose.