Why is innovation important for organizational survival and success in a turbulent environment?
Innovation is a primary source of competitive advantage in the modern business world. Organizations that survive and prosper the best are learning organizations –– ones that mobilize people, values, and systems to achieve continuous change and performance improvements driven by the lessons of experience. Organizations and their managers must continually adapt to new situations if they are to survive and prosper over the long run.
Source: Management, 11th Edition - John R. Schermerhorn