Meaning ● Relative Innovation Strength, in the context of SMB growth, automation, and implementation, represents a company’s capacity to outperform its direct competitors regarding the speed, scale, and market impact of implementing new and improved products, processes, or business models. Focusing on quantifiable outputs, it assesses an SMB’s ability to rapidly transform innovative ideas into tangible business value and enhanced market share, giving direct insight on how quickly it seizes opportunities.
● Implementation of automation technologies is greatly determined by an SMB’s strength and ability to develop internal innovations. The metric is usually evaluated on performance benchmarks. Ultimately, strong Relative Innovation Strength gives the SMB the ability to take greater risks with improved technology and automation adoption rates, with a competitive market advantage. Furthermore, a business exhibiting notable Relative Innovation Strength may consider automating key business functions.
