10 Types of Innovation: The Art of Discovering a Breakthrough Product

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The Art of Discovering Breakthrough Products

As venture capitalist Peter Thiel once put it, “competition is for losers”.

It’s inevitable that every company out there must be out there battling for market share, but you don’t really want to be in a situation where the competition is so stiff that any potential upside is eroded away in the process—a scenario known as perfect competition in economics.

To avoid perfect competition, companies must strive to build an economic moat that gives them a sustainable competitive advantage over time. While these protective moats can arise from a number of different sources,

Read more    Source: visualcapitalist.com

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