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Organization innovation requires the development of better products, offerings or processes within an institution. It can require creating a cool product or company altogether, or perhaps it can simply make existing processes less expensive and time consuming. For example , a bank generally offer its clients online banking rather than having to go to a branch, which saves both money. A company may improve it is delivery process by using a courier service or offering delivery discounts. Occasionally, the goal of organization innovation is always to meet changing industry needs, such as environmental concerns or perhaps changes in item legislation.
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