– In the past, high quality products and services and reasonable prices were enough to beat competitors, but this is not always the case. 

– There should be continuous exchange of information between the company and its entire environment in raising      innovative ideas 

Innovations

Successful companies in the world at the heart of management are putting a lot of emphasis on innovations to increase their sales and share. Innovations can occur not only in the field of products but also in the field of production, design and distribution of products or services and delivery of services.

The Western World and Innovations

Innovations abound in the Western world because people there believe that innovation is another name for progress. The age of innovation which mostly started from the 20th century. Before that it was necessary to make a massive production in order to make more and more profit and techniques such as selling the product not only in one’s own country but also worldwide through advertisements, eliminating competitors or making its products obsolete were prevalent. This method is known as ‘mass production and mass marketing’ but it does not last long.

R & D departments

The great achievement of the 20th century was that its companies and organizations set up R & D departments for new inventions and ‘institutionalized’ new inventions. New products make old products or services obsolete.

How to be Innovative?

Companies or non-profit organizations should also choose individuals to be innovative whose brains are working towards innovation. Such people are very curious.

Methods such as brainstorming should be used in the workgroup to inspire innovation.

In addition to brainstorming, amazing results have been obtained using methods such as synectics, (a problem-solving technique which seeks to promote creative thinking, typically among small groups of people of diverse expertise)

Forced Relationships, and Morphological Analysis. Morphological analysis is the analysis of morphology in various fields.

(Morphological analysis (problem-solving) or general morphological analysis, a method for exploring all possible solutions to a multi-dimensional, non-quantified problem. Analysis of morphology (linguistics), the internal structure of words.)

Ahmedabad’s The L. J. University is moving a lot in this direction.

Brain Storming experiments are also going on in Shreyarth University of Gujarat Samachar.

The ‘Six Thinking Hats’ exercise, invented by renowned author Edward de Bono, has also proved useful in finding creative solutions to difficult business problems. Creative means creative thinking can come from any place or any person.

India’s work culture is so hierarchical that the people of India cannot make no efforts for new innovations but many Indians have made wonderful discoveries in their field by going abroad and gaining experience there. In addition, to increase creativity in your organization or company, a creative agency or creative person can be hired as a consultant or hire a senior manager in the company to help any person or any dealers, distributors or customers of the company come up with any new idea. Can be found in person or can be talked to on the phone.

E-mails can also be a great way to introduce new ideas. Some companies keep a suggestion box for their employees. Innovations can simplify your work or reduce your costs, not only at the factory but also at department stores, other retail outlets, inventory management, financial innovations, quality control, etc.

Areas of new discoveries

In the past, high quality products and services and reasonable prices were enough to beat competitors, but this is not always the case. If you are a company that makes typewriters and make the best of best typewriter then too no one will buy. Desktop computers have made them obsolete. Now no one even buys a spinning telephone.

Below is a list of some of the areas where some companies have found success by making new discoveries.

1. Companies that have dramatically reduced the price of their products.: For this Idea, Southwest Airlines, Walmart, Target, many companies making snack packs like Balaji etc. can be considered.

2. Top quality companies: Sony, Toyota, Intel, HUL, Torrent Pharmaceuticals, Torrent Power, etc.
3. Top companies in social equality: Tata’s many companies, American ice cream company Ben & Jerry’s, Azim Premji’s many ventures, HUL etc.
4. Companies that offer brand new memorable experiences to customers include: Harley Davidson, Walt Disney and Starbucks.

5. Building a new business model these include: Federal Express, Burns & Knowles, Baiju, etc.

6. Narrow Marketing : Tesla and Tetra pack are among the companies that excel in Narrow Marketing. (A “narrow market” is a market that has very little liquidity and is subject to wild price swings.)

Constant flow of information

There should be a constant flow of information between the company and its entire environment in raising innovative ideas. According to a management expert Ms. Rosabeth Moss Kanter, new ideas lead to innovations and should be taken seriously rather than underestimated by those working at the bottom of the company. Edward de Bono’s books should be in every company or university, college, can be taught in informal classroom or even workshops can be held.

Courtesy  Gujarat samachar 13022022 Management-Dhawal Mehta