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Innovation to differentiate products

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Reference no: EM131253352

Companies achieve competitive advantage by using innovation to differentiate their products from those of competitors and either charge a premium price or lower costs far below those of competitors.

1. Given this concept, what is the relationship between efficiency and innovation? Use real-world examples to illustrate your response.

2. Can companies innovate and operate efficiently at the same time? Why or why not? Use real-world examples to illustrate your response.

It must be in your own words and provide examples with references.

Reference no: EM131253352

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