GRIP Task 2 - Content Writing

1. CONTENT WRITING
ARTICLE ON INNOVATE
Name: Shetty Hrithik Vasantha
Digital Marketing Intern
Topic: Content Writing (Task 2)
#Grip July 2021 Batch

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SHETTY HRITHIK VASANTHA
INNOVATION
Innovation is the process of generating and screening of ideas to gather data and have a deep
analysis of the same. Innovation is important to have smooth flow and to run the operations
of the business in an effective and an efficient manner and getting the desired results over a
period of time to sustain and grow in the market. Innovation is a practical implementation of
ideas that result in the introduction of new goods or services or improvement in offering goods
or services. Innovation Standard Management are proposed to define innovation as a new or
changed entity creating or redistributing value. However, many scholars and governmental
organizations have given their own definitions of the concept.
Some common element in the different definitions is a focus on newness, improvement and
spread. It is also often viewed as taking place through the provision of more effective products
processes, services, technologies, art work or business models that innovators make available
at markets, governments and society. Innovation is important as it helps the firms to adopt to
the rapid changes in the business environment and devise a strategy in order to cope up with

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SHETTY HRITHIK VASANTHA
those changes and establishments of the business on a large scale, creating a positive word of
mouth and gradually increasing the market share.
Importance of Innovation:
 Solving Problems
 Adapting To Change
 Maximizing On Globalization
 Facing Up Competition
 Evolving Workplace Dynamics
Steps of Innovation Process:
Step 1: Idea generation and mobilization
Step 2: Advocacy and screening
Step 3: Experimentation
Step 4: Commercialization
Step 5: Diffusion and Implementation

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SHETTY HRITHIK VASANTHA
Types and Examples of Innovation:
Product Innovation: Product Innovation is the development of new products or improved
version of the existing product.
Example: The first electric vehicles introduced in automobile market.
Process Innovation: The process involves a combustion of skills, facilities and
technologies used to produce, support and deliver a product or service.
Example: Henry Ford’s invention of the world’s first vehicle assembly line. This process
changed the vehicle assembly and shortened the time necessary to produce a single vehicle
from 12 hours to 90 minutes.
Business Model Innovation: In Business model innovation capabilities or processes
optimized to make a company successful and profitable will become the targets for
transformation.
Example: Amazon found a new channel through technology by eliminating the traditional
retail distribution channel and developing direct relationships.
Organizational Innovation: It refers to the development of a new organizational strategy.
This involves changes in company’s business practices.
Example: The company adopted for a four-day week working schedule.
Marketing Innovation: It is developing a new marketing strategy that produces changes.
For instances, designing and other decisions.
Example: Touch Packaging Design has partnered with Nestle Ice Cream to create a reusable
container for its brand.

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SHETTY HRITHIK VASANTHA
Process of Innovation:
 Idea Generation
 Idea Screening
 Business Analysis
 Product Development
 Commercialization
 Test Marketing
Key Components of Innovation:
 Building the Right Team
 Creating a Shared Vision
 Developing road map
 Formulating a marketing strategy
 Implementing the plan
Innovation is the need of the hour in the 21st
Century and after the Covid-19 pandemic everyone
will have to innovate new methods of getting the thing done as most of the companies have
shifted to work from model and most of the workforce can contact each other through online
like zoom, google meet which reduces their interactions and they are sometimes not able to
arrive at the concrete decisions.

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Conclusion
Although finding the right process for innovation may seem difficult to begin with the idea is
not to follow just one of them. Instead, take some time to take the most promising one and
combine different characteristics that might work best for your purposes.
THANK YOU

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SHETTY HRITHIK VASANTHA