Small Business Innovation - Sustain competitive advantage

In order for small businesses to compete in the global market competition, innovation is essential. One factor is the pressure of innovation. Pressure of competition forces small firms to successfully innovate and adapt. Moreover, innovation can be promoted in a company as employees need a certain amount of pressure to jump start the creative process. The constructive and positive pressure from the head of a company stimulatesLateral thinking for creative people.

The real puzzle is the transformation of creative ideas into commercial practice. This is when and where employees need encouragement and positive reinforcement. As a CEO you have to show much interest and involvement in the development of new products, as in the existing product lines. Innovation is not only the production of new ideas, like the adaptation of new product releases, developed an inventory of creative ideas. We need to promoteEnvironments, the creative imagination is for problems and then find good solutions to these problems.

As CEO, you can encourage innovation in the enterprise through:

1. Reorganization contribution individual
2. to reward the provision of a bonus incentive program, individuals and groups to study innovation

Innovation is an expert in your specific area mastery. technological leadership and a commitment to learn more about your field than any other company is veryImportant innovation gap to close. joint ventures, strategic alliances or partnerships can not close the gap on their own. It 's your core competence, with the added synergy of a joint venture, strategic alliances and partnerships that make it a very successful innovation. The best way to beat the competition is to sell products with the technology that do not match. It is only through the implementation of innovation and success of innovations that can reach a company to maintain competitive advantagein the global market. However, it must be this innovative product:

1. Cost to make big enough margin of 50% or more
2. Beat the heck out of the competition
3. Save your clients significant money

This profit margin must be large enough to allow the product to invest in maintaining a competitive advantage. You need to be constantly reinventing itself with innovative products that produce much better, it is necessary to effectively your oldexisting products to really compete.

Innovation requires years to develop, nor is it necessary to quickly bring products to market to compete. Therefore aligned current business systems must be present, as your business grows tree, and you lose the ability to innovate and then market the product in a market leader. Then, once on the market, it is necessary to aggressively protect the confidential nature of this product, "peak" by aggressive use of trademarks andIntellectual Property Rights.

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