Necessity is the mother of invention. One reason for firms to innovate is the necessity to re-invent themselves and get out of stagnation: the industry has either gotten obsolete, or competitors have adopted newer and more efficient business models, and products or services based on more advanced technologies. Innovation is then a necessity as the firm has to innovate or perish, one only has to look at what happened to Blockbuster and Kodak. Blockbuster at one point of time was the leading me...

Seminar Required