Many factors behind new inventions in business are responsible

- Management-Dhawal Mehta

- The patient's body may also be implanted in another human heart or liver or kidney which is likely to increase the average lifespan of a human being to more than 100 years.

There are many factors behind the innovations in the business world. Of course, behind some of the discoveries, a sudden flash of electricity in the researcher's brain solves an unsolved problem. An apple fell on Sir Isaac Newton's head and at the same time he was struck by the law of gravity. The person who did the innovation must have thought deeply on the subject of discovery before this flash. The following is a short list of some of the sources of inventions in the business world.

Create the unexpected

In the early 180's, IBM, an American company, invented a modern accounting machine and believed that it would be used by a large number of banks. After IBM founder Thomas Watts sold hundreds of machines to libraries, IBM designed the Univec machine and proved successful in accounting for payroll, and since then IBM has made a number of improvements to Univec and has become a leader in large and medium-sized computers. . The company did not even dream that it would become a leading company in the field of commuters. With this unexpected success the company later introduced mini computers and later desktop computers which were successful. Of course, after that Apple captured most of the IBM market and now Apple is the No. 1 company in the computer market.

Unexpected success as well as unexpected failure is associated. Ford did a lot of research on the needs of the customers and came up with a model of the car called Edsel and Ford failed miserably. But this unexpected failure taught the Ford Company a great lesson and Ford designed the Mustang car with tremendous success.

Changing markets

Changing markets also give birth to innovations. The market for packaged snacks in India has been booming for the last twenty years and sales of ready-made snack packages have grown rapidly not only in Indian cities but also in its villages.

Demographic changes

Demographic changes indicate an increase in education, purchasing power, etc. in the age group of the population and now there is a huge increase in schools, colleges and universities in India as the people of India want to educate their children more and more. Many universities have started with new teaching methods and new courses and specializations. New universities in India have entered with many new academic experiments and academic study courses and they have introduced a unique diversity in the higher education practice of India. He has introduced many innovations in study sequences.

Improve techniques

Modern management has changed the hierarchical structure and created a more participatory structure. It has given more autonomy to the employees and put any satisfaction of the employees (job satisfaction) at the center. Improvements have also been made in the style and scope of their work to keep employees interested. Created a responsible structure from top to bottom instead of a top-down command structure.

Knowledge Based Innovations

With computers, many directions of knowledge have opened up. The little-known knowledge has made it possible to invent many cars based on electric cars and DNA. New knowledge has now led to the implantation of another human heart or liver or kidney in the patient's body, which is likely to increase the average human lifespan to more than 100 years. Now new knowledge is rapidly turning into new inventions and new technologies. There are many laboratories operating in and outside the company to make practical use of new knowledge. Now large companies that do not have a rich R&D department have to hide their shame and it has become imperative for Indian universities to conduct research not only for teaching but also for professors. One of the essential requirements for innovation is focus. Institutions that do not have a focus on innovation tend to weaken over time. This applies not only to companies but also to educational institutions and government administrations. E.g. The American company Levi's invented 'baggy jeans' and it became a fashionable product at one time and also became a part of the youth culture of that time. The culture of innovation is evolving in Indian companies and the establishment of R&D accounts in many companies is a matter of satisfaction in terms of management. Research is also being given importance in our new education policy so in the near future India will develop an innovative culture and not an imitative culture.