'Innovation is the successful exploitation of new ideas'

INNOVATION ADOPTION
Every business should regularly review its situation and performance, making an assessment of its health, and its ability to maintain a profitable future. This requires a dispassionate view of all the key factors, whether that is sales mix, gross margin, productivity or non-productive time, overheads, financial costs, stock turnover, etc., etc. However efficient a company has performed in the past it needs to vigilant to dangers of becoming complacent and staid, or worst still having a number of small reductions in performance that could add up to a major threat.

MORE INFORMATION
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