"Renew or died" is a maxim for all companies these days, no matter what's your business.
As part of my lecture about Competitive Innovation, I carried out a research through the Oxford English Dictionay about the real meaning of Competitive Innovation.
" Innova vel mortuus est "
Competitive Innovation: to make changes in something established, especially by introducing new methods, ideas, or products in order to become as good as or better than others of a comparable nature (our competitors).
Innovation from Latin innovatio(n-), from the verb innovare noun
[mass noun] the action or process of innovating:
innovation is crucial to the continuing success of any organization
Innovate (in¦nov|ate)
verb
make changes in something established, especially by introducing new methods, ideas, or products:
the company’s failure to diversify and innovate competitively
competitive (com|peti¦tive)
adjective
As good as or better than others of a comparable nature:
a car industry competitive with any in the world
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