Innovation and New Product Development Process in the Form of Restructuring the Business

All organizations today are chasseing for forceful environmental categorized by rapid change, they are trying to change the product life cycles and globalization. It is perceptible that the organisations, those are technology based (cameras, mobile phones, laptops etc) are in the market environment need to be more innovative, more creative to endure in the high competition market. Today success is based on innovation through creativity. In return it will give the advantages to the organisation and the same way to the 21 century's economies. Hence the creativity and innovation are increasing significantly in today's world (Mumford and Gustafson, 1988).
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