Sunday, February 3, 2019
Innovation:
Every is known man wishes are unlimited and his life and sources are limited. In limited life and resources if you want to fulfill many wishes and get many achievements in life. Then the one thing or resource are remaining that are many rare resources. This Resource name is Innovation. I am deeply explained through Entrepreneurship concept.
What is Innovation:
Innovation Means Development. Development in both type of goods and services. Develop a new product are update an existing product or services. In Existing Product like a smartphone is the best example A few years back Cable phone are used that have a limited range due to the wire. But now a day we are using a smartphone with unlimited range. In an existing product, idea changes a little bit and create a new thing. The new thing is consisting of exciting features like cable-less. Unlimited range, prepaid and postpaid both facilities. Newly Phones are removing the differences and give the face to face call through video call features
Why Innovation Important?
The main benefit of innovation it's important Its important role in economic growth. Due to innovation mini input and greater output. In production through innovation rises more goods and services are generating. In simple word Economy Growth.
New Ideas and thought are developed and Implemented for generating greater output with mini input.
In very simple when you decrease your production cost then you absolutely get a more margin.
Efficiency is doing things right, effectiveness is doing the right things. (Peter Drucker)
Efficiency is doing things right, effectiveness is doing the right things. (Peter Drucker)
