Innovation
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Innovation Presentation Transcript

  • 1. NAME:SAI MANIKANTA & AKHIL DATE:28-10-2013 CLASS:BBA 2ND YEA COLLEGE:HYDERABAD SCHOOL OF BUSINESS PROJECT ON INNOVATION
  • 2. Definition : a process whereby new & improved products, processes, materials & services are developed & transferred to market where they are appropriate. Innovation = Theoretical Conception + Technical Invention + Commercial Exploitation
  • 3. Innovation = Invention + Exploitation -- Innovation , an act of : - creating a new product, taking it to the market and selling it to people.  Innovation involves leading a firm from :    - existing processes & products to better and more valuable ones Innovation is proactive and encourages creativity & risk-taking
  • 4.  Wolfgang Drechsler (born June 6, 1963 in Marburg, West Germany) is a Public Administration, Political Philosophy and Innovation Policy scholar. He is Professor and Chair of Governance, and one of the founders and directors of the Technology Governance program, at the Tallinn University of Technology, Tallinn, Estonia. Currently he is also Vice Dean for International Relations at its Faculty of Social Sciences.
  • 5. Drechsler says that : Innovation is not all about being creative its all about thinking…  successful innovation is lucrative “Drechsler said that entrepreneur creates innovation to make profit in short span” Dual nature: i)business economy ii)individual society “innovation is public sector have to privatized” 
  • 6. Schumpeter theory “According to Schumpeter ,it is the introduction of new product and the continual improvements in the existing ones that lead to development”  According to Schumpeter theory He say that majority effects economic graph  Government sectors should balance the private sector 
  • 7. An innovations may consist of: 1.The introduction of a new product 2.The introduction of new method of production 3.The opening up of a new market 4.The conquest of a new source of raw material 5.The carrying out of a new organization of any industry like the creation of monopoly.
  • 8. Public sector needs to reflect the reality of life  Innovation how regulate in public sectors  How far it could help to create long term sustainability  How far it helps to sustain in global market 
  • 9. Breakthrough Innovations           Nokia-- Switched business from tyres to Mobile Phones Mineral Water Bottle Flower Bouquets Cable TV Virtual Classrooms MS Office, Google Aero plane, Air Conditioner, Refrigerator, Digital Camera Nuclear Energy
  • 10. SO FRIENDS START TINKING IN INNOVATIVE WAY… THANKYOU