Question: Technological innovation is now often the single most important competitive driver in many industries. Many firms receive more than one-third of their sales and profits

Technological innovation is now often the single most important competitive driver in many industries. Many firms receive more than one-third of their sales and profits from products developed within the past five years. Q1. Why is innovation so important for firms to compete in many industries? Q2. What are some advantages of technological innovation? Disadvantages? Q3. Why do you think so many innovation projects fail to generate an economic return?

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