_________ is a common strategy employed by businesses to capitalize on emerging industry trends.
- Consolidation
- Diversification
- Innovation
- Standardization
Innovation is a key strategy for businesses to capitalize on emerging industry trends. By developing innovative products, services, and business models, businesses can differentiate themselves from competitors and attract new customers. Innovation involves generating new ideas, experimenting with new technologies and approaches, and implementing creative solutions to address market needs and preferences. Businesses that successfully innovate can gain a competitive advantage, increase market share, and drive growth and profitability. Innovation is essential for staying ahead of the competition and creating value for customers in dynamic and rapidly changing industries.
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