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- Market pull
- Universities & industry liaison
- Simultaneous coupling: involves a continuous process of feedback and iteration.
- interactive: takes simultaneous coupling one step further,
- interactive: takes simultaneous coupling one step further, Innovations occur due to work in universities, industry and from market demand
- ### Characteristics of Innovative Companies
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Innovative companies share certain characteristics, such as: #flashcard
- A willingness to take risks and experiment with new ideas.
- A focus on customer needs and preferences.
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- A commitment to continuous improvement and innovation.
- ### Strategies for Fostering a Culture of Innovation
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Companies can foster a culture of innovation by: #flashcard
- Providing resources, such as funding, time, and expertise, to support innovation initiatives.
- Encouraging collaboration and cross-functional teams.