Final answer:
Innovation is crucial for organizations to stay competitive and meet market needs. Market competition incentivizes firms to discover and implement new technology. Samsung prioritizes innovation in its business principles.
Step-by-step explanation:
Innovation is a crucial aspect for organizations to stay competitive and meet the evolving needs of the market. It refers to finding ways to deliver new or better goods or services. Market competition provides an incentive for firms to discover and implement new technology, which can lead to increased profits and a temporary edge over competitors. For example, companies like Samsung emphasize the importance of innovation in their business principles.