Bank of Cyprus innovation strategy
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Table of Contents
Table of Contents 1
PART 1: Company's Background 2
PART 2: Innovation capability assessment 3
PART 3: Recommendations 7
PART 1: Company's Background
A key challenge in the current environment is a company's ability to manage innovation effectively. To begin with, innovation is about products, organization and processes. In other words it is the successful exploitation of new ideas and the purposeful and systematic search for change and opportunity. Furthermore, innovation is to be a step ahead of the competitors all the time and can be copied. This can be used as a mean for gaining competitive advantage. Manage of innovation is an important and difficult issue t hat has pursuit many writers the last 20 years. Research has repeatedly shown that firms that simply innovate on impulse ate poor performers. Equally, those, which understand the overall business, including their technological competence, their marketing, competence and their desired development trajectory are more likely to succeed. (Managing innovation, J. Tidd, J...