Importance of Innovation in Business
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Questions and Answers

What is one of the benefits of innovation mentioned in the text?

  • Reduced revenues
  • Decreased customer satisfaction
  • Lower profitability
  • Increased market share (correct)

How does innovation help solve complex problems according to the text?

  • By automating all tasks
  • By developing customer-centric sustainable solutions (correct)
  • By increasing manual work
  • By avoiding problems altogether

What does innovation lead to in terms of productivity?

  • No impact on productivity
  • Decreases productivity
  • Increases productivity by simplifying and automating tasks (correct)
  • Increases productivity by making tasks more complex

Why do companies invest in increasing productivity?

<p>To automate repetitive tasks and simplify processes (B)</p> Signup and view all the answers

Which problem is being tackled by shifting to renewable energy sources according to the text?

<p>Environmental damage (B)</p> Signup and view all the answers

What software is cited in the text as an example of innovation in increasing productivity?

<p>MSExcel (A)</p> Signup and view all the answers

What is the primary benefit of innovation for businesses according to the text?

<p>Enhancement of existing product lines (C)</p> Signup and view all the answers

How does innovation contribute to solving complex problems in businesses?

<p>By developing customer-centric sustainable solutions (C)</p> Signup and view all the answers

What is the long-term effect of shifting to renewable energy sources as mentioned in the text?

<p>Economic and environmental sustainability (B)</p> Signup and view all the answers

How does innovation impact the productivity of teams within organizations?

<p>By automating repetitive tasks and simplifying processes (D)</p> Signup and view all the answers

What role does MSExcel play in the context of innovation for finance professionals?

<p>It simplifies and automates manual tasks for finance professionals (D)</p> Signup and view all the answers

Why do some argue against innovation in businesses, as per the text?

<p>Due to the belief that it leads to unnecessary expenses (C)</p> Signup and view all the answers

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