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6. Explain product and process innovation and discuss the relationship between them according to the graph below. Dominant design established Innovation Product innovation Process innovation

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6. Explain product and process innovation and discuss the relationship between them according to the graph below. Dominant design established Innovation Product innovation Process innovation rate Time 7. What is GAP analysis? Please give an example using the graph below. If a firm underperform its targets what do you suggest to meet its targets? Performance Desired performance Gap Projected performance Achieved performance Past Today Future

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