Innovation in business and management

1. z DHANALAKSHMI SRINIVASAN
ENGINEERING COLLEGE
PERAMBALUR, THURAIYUR ROAD
1. Name:sathish kumar.P
2. Reg no:
3. Course: MBA-1YEAR
4. SYMPOSIYUM TOPIC: INNOVATION IN BUSINESS AND
MANAGEMENT

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Innovation in
business and
management

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“An innovation is the implementation of a
new or significantly changed product or
process. A product is a good or a service.
Process includes production or delivery,
organization, or marketing processes.”

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*Business innovation is when an organisation
introduces new processes, services, or products
to affect positive change in their business. This
can include improving existing methods or
practices, or starting from scratch.

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*an innovation management system, is the
process of managing new ideas, from ideation
to taking action and making them become a
reality. This approach has four distinct steps:
Generating - Brainstorming and employee input
to uncover hidden concepts.

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*Innovation is often necessary for
companies to adapt and overcome the
challenges of change. It fosters growth:
Stagnation can be extremely detrimental
to your business.

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*The innovators of the 21st century will
bring together arts, science, engineering,
humanities and enterprise to deliver
innovative products, services and ways of
living.

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 TYPES OF INNOVATION
1.Open innovation
2.Disruptive innovation
3.Reverse innovation
4.Incremental innovation
5.Breakthrough innovation

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*Technological innovation creates
opportunities for entrepreneurs to found
new organizations and establish competitive
positions as incumbents' sources of
advantage decay.

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*Innovation itself is a process requires unique
skill sets from a team to fuel growth. In a
study of 145 software development projects, the
results show that teamwork quality and
performance is dependent on the innovativeness
of the project.

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*Innovation in education means solving a
real problem in a new, simple way to
promote equitable learning. Innovation in
education matches the scale of the solution
to the scale of the challenge.

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THANK YOU
EVERYONE