For an organization to obtain a competitive advantage via superior innovation, it should For an organization to obtain a competitive advantage via superior innovation, it should Produce products with technologies that have not been utilized previously.
<h3>What is superior efficiency in competitive advantage?</h3>
Efficiency, quality, innovation, and customer response are the four pillars of competitive advantage. A corporation can charge a greater price and still reduce costs if it is more efficient, produces better quality products, and provides better customer service.
Superior efficiency can only be attained with an organization-wide commitment and the capacity to assure strong coordination between functions. Top management is crucial to this process because of its ability to lead and shape the infrastructure.
An organization's process of reinventing or rethinking its corporate strategy in order to spur business growth, produce value for the firm and its clients, and gain a competitive edge is known as strategic innovation. Organizations need to innovate in this way if they want to keep up with how quickly technology is changing.
A corporation must develop abilities in both basic and applied research, create effective project management procedures, and achieve close integration between its many departments, primarily through the use of cross-functional product development teams, in order to achieve exceptional innovation.
Hence, For an organization to obtain a competitive advantage via superior innovation, it should For an organization to obtain a competitive advantage via superior innovation, it should Produce products with technologies that have not been utilized previously.
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