INNOVATION … IS IT JUST IMPROVEMENT???

"Innovation is the central issue in economic prosperity"

 

 

 

This quote by Michael Porter, an well renowned name in academic circles and corporate world, reflects the importance of innovation in each sphere of life.

A brief overview of some important innovations is enough to mesmerize us and makes us understand the relevance of these innovations in achieving seemingly dream like objectives..

First , lets have a look at these Innovations… 

Genetic sequencing:

Want to know where you come from and what makes you tick?This is a look at the history of life with a vision to improve its future.

 

 

The Internet

All of the world's ideas, increasingly made searchable, accessible and useful, and all offered up with infrastructure designed to survive attacks of any kind
 

 


 

Semiconductors:

Nothing has ever so steadily, consistently, and continuously helped human beings do more with less over time than this incredible idea.
 

Can we compare a mobile of today with a super computer of 1960’s…
 

 

Vaccines and antibiotics

This innovation saved a million lives.
The worth of each life : I wont trade mine for a million dollars

 

 

Now , a Question: Is innovation applicable to business??

The Answer : yes!!

The concept of limited liability in business is itself an innovation.

If you have the courage and can take the risk , then start a business. If you succeed, you can make a fortune. But, if you fail, you don't go to jail. One can imagine the effect on the mindset of the entrepreneur , if she knows that she is starting a limited liability business.

 What about capital markets!!

Allowing individuals to take risks, try their ideas, and work to fashion “progress” as they see it.

Throughout history innovation has shaped the way we look at present and imagine our future. It is much more than improvement. It is about realizing that unrealistic is not that unreal and looking at the impossible with a fresh perspective: