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This focuses on the relationship between inputs and output. Different production curves are presented. But the intensity of current global competition often requires managers go beyond the traditional production curves. Today's manager must understand the importance of innovation (product innovation: the introduction of new or improved products; process innovation: the introduction of new or improved production processes). Give an example of real world firm which benefits from innovation and remains (or becomes) competitive in today's globalized world.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91422232

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