INNOVATION EASY, EFFECTIVE AND ECONOMICAL TOOL FOR ASSET CREATION FOR MSME IN INDIA

Innovation and entrepreneurship are essential ingredients in building a successful commercial venture. The ways in which these two concepts fuel enterprise is something entrepreneur’s never stop exploring.

There is no doubt that innovation were, are will be extremely important for the individual and society. Today, people increasingly realize that innovations are even more critical that in the past. Thus, industrial competition is increasingly cruel and companies must continuously bring innovative products and services to the global market. To survive, companies need creative and inventive employees whose novel ideas are, to a certain extent, a necessity for the companies continued existence and future success. Consequently, maden society indeed requires highly able citizens who can produce innovative solutions to current challenges and contribute new ideas that aid in the development and growth of the market for a particular product or service. Contemporary society, without doubt, is highly reliant on innovations. The future will be synonymous with innovation. Despite the quite evident importance of innovations in the life of any organization, one should acknowledge that the phenomenon of innovation is far from well understood.

“Executing an idea which addresses a specific challenge and achieves value for both the self and society. Innovation is a never-ending process. Many people think of innovation but don’t execute, but if someone has an amazing idea, it changes the world and that’s that. True innovation is much more complex.

Karsanbhai Patel did not invent detergent. Instead, his innovation in distribution, money back guarantee and appealing price point is what translated into Nirma story where an indian entrepreneur took one the MNCs and rewrote the rules of the business.

What is important to understand is that the innovation need not be grandiose. Instead to be effective it must be simple and focused on addressing specific issue or need. It is always better to able to start small, requiring limited resources, few people and only a small market. Otherwise, there is not enough time to make the adjustments and changes that are invariably required in the initial stage. Innovations are to be handled by ordinary human being so it should not be too complex or clever, india has long branded itself as the world’s leading outsourcing destination for global companies, particularly for those in the technology sector but in the Fourth Industrial Revolution, the time is ripe for the world’s most populous country to reinvent itself.

Innovations Unlimited There is a burgeoning start-up and innovation culture, as shown by the Global Innovation Index, where India has improved its ranking. There is no denying that the future of technology will continue to revolutionize our lives. In a few years, driverless cars may be the norm for everyone, and robots will be commonplace in factories. Future technology is sure to transform our lives in unbelievable ways, but here we highlight the many common ways technology is changing our lives today.

Many new innovations happening in construction and infrastructure as well. Ultra High- performance concrete created new window for super high strength concretes. Civil Engineers and structural designers have this tool to design structures fit in small space and take heavy load. Sustainability and Durability are another core area from where new technology will immerse. Soon we will see construction technology will be combined with Al to create other realm of possible growth and developments.

Look around you. Artificial Intelligence is no longer just a futuristic notion, it’s here right now such as software that senses what we need, supply chains that “think” in real time, and robots that respond to changes in their environment. 21st century pioneer companies are already using Al to innovate and grow fast. The bottom line is this Businesses that understand how to harness Al can surge ahead. Those that neglect it will fall behind. Which side are you on?

“Connective advantageous interaction-human-human, machine-human, human-machine will keep on thickening.

Jogani Impex LLP
Web : www.joganireinforcement.com