3. Through innovation, firms often create a broader portfolio of products, which help them and enhance firm value better than a single product. increase their prices diversify their risk advertise more directly reduce total production costs

manage risk through diversity.

Explanation:

Innovation is the process of transforming new ideas into new offerings which includes products, services, branding concept and processes which will help a firm grow.

Due to changing customer needs, organizations include products, services, processes, branding concept to their offerings which allow the firm to effectively develop and deliver value more and keep its customers from getting bored with products and services the firm's currently has.

Through innovation, organizations also create a wider portfolio of products, which enable them to manage the risk through diversification and improve the value of the firm better than that of a single product because organizations with multiple products and services can withstand external shocks better.

idk the answer so dont listen too me

answer; communication channel;