Final answer:
Innovation in business involves replacing existing contracts with new ones to improve efficiency or competitiveness. A change from an AB contract to an AC contract signifies a new agreement with different terms or parties involved.
Step-by-step explanation:
Innovation in business often involves replacing existing contracts with new ones to improve efficiency, competitiveness, or other factors. In this case, the question is referring to the replacement of an AB contract with an AC contract. This change may involve different terms, conditions, or parties involved in the contract.
For example, if a company had a contract (AB) with a supplier but found a new supplier that offers better terms and conditions, they may terminate the AB contract and enter into a new contract (AC) with the new supplier. This innovation aims to improve the company's operations or achieve cost savings.
Overall, innovation in business contracts involves making changes to existing agreements to adapt to changing circumstances, improve outcomes, or pursue new opportunities.