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QHT_Task_3.docx Western Governors University QHT Task 3 Innovation is paramount to th

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QHT_Task_3.docx Western Governors University QHT Task 3 Innovation is paramount to the success of entrepreneurial enterprises because when a company becomes complacent they may be left behind. The world is constantl ...

QHT_Task_3.docx Western Governors University QHT Task 3 Innovation is paramount to the success of entrepreneurial enterprises because when a company becomes complacent they may be left behind. The world is constantly changing and evolving, businesses must do the same to remain relevant. There are many ways innovation can assist in this process; competitive advantage, a positive work environment, entry barriers, and achieving a low cost business strategy. Competitive advantage is a method companies utilize to increase their ability to attract new consumers and retain existing. Innovation can promote competitive advantages over competitors and attract consumers to the company and industry. They can use these advantages to increase production or lower costs to maintain their dominance in the industry. The advantage can be manifested in many ways; superior work worce, better technology, efficient machinery, and drive to succeed. These different advantages over the competition encourage strong performance and will lead to financial success. A positive work environment is growing focus in most industries because it promotes morale, performance, and lowers turnover. Innovation is key in the workplace to constantly find new ways to attract better employees and retain the assets the company possesses. As the world and economy has grown so has an individuals choice of where to work or whether to stay for an extended portion of their career. The work environment in a company is a good indicat. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . .

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