[MTC Global] Process of technological innovation - Ramesh Vemuganti

Dear Professional Associates                                                                      1st November, 2013

"High achievement always takes place in the framework of high expectation." - Charles Kettering

There is an overwhelming response to my earlier mail on Technological innovation. In  continuation, I am sending the next content.

A Technological innovation - TI is a process of change & is critical to success of all organizations, large or small in b oth private & public sectors.  Let us understand this process of TI & how does it happen. A TI addresses a gap in the market or a societal need  -- be it a new cancer drug, cost effective medical device, i Phone, fuel efficient car, microwave oven or a useful agricultural implement.

Whenever a turbulence is created anywhere in the global market, need is felt for a technology to resolve it. Then, a related scientific theory is discovered, evolved & formed. This results in development of related Engineering for making a prototype or model, which is termed as Technology development. Next, Management is needed to design an organization structure, install right systems & bring in stability. Then, Entrepreneurship is required with its unpredictavility & chaos - essential entities to take the product to the market/ user. All this is made possible only with a Supportive environment, both within the organization & in the external environment. The top Mgt must be congenial & encourage innovative thinking & spread a culture of innovation amongst the employees. The external environment comprises of a favourable Govt policy, eco friendliness, constructive use of the technology, among others.  

So,

Commercially Successful Innovation = Scientific discovery+ Engineering development+ Management+ Entrepreneurship +

Recognized social need+ Supportive environment.

Present day examples of CSI - Commercially successful innovation are products & services which are selling in large numbers & are dominating in the market - Maruti Swift,  Flipkart product offerings, Nike sports shoes, Subway sandwitch, Corn club, Udupi dosa, Mahindra Bolero, social media networks, others.

Every organization, from a small 20 member team to a large MNC, can immensely benefit with a good Technologicla innovation. They can implement the stages as stated above to innovate a product/ service. Please forward this mail to known contacts & friends.

A 1 hr Corporate talk or a 3 hr training/ interactive session with managers & leadership team will usher in a refreshing change & result in ground breaking products/ services for the organization. We can discuss the various market opportunities & with a proper SWOT analysis, can look at it from various angles & take it forward, Being better prepared for the future is the way to go.
You can call or send a mail for any query,

regards

Ramesh Vemuganti

CEO, Chanakya Consulting

Hyderabad

M - 9849590511

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