3. 3
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INNOVATION?
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• Innovation is the introduction of new ideas, goods, services, and
practices which are intended to be useful.
• The main driver for innovation is often the courage and energy to
better the world.
• An essential element for innovation is its application in a
commercially successful way.
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14. 14
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To enhance your creativity
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1. Open Your Mind - Have one new experience every day
2. Diversify - Involve others in your problem-solving
3. Relax - Stress, exhaustion, boredom block our pathways
4. Stop Looking For the Right Answer - Look for many right answers.
5. Discover Your Creative Rhythm - Start paying attention to when you
get your best ideas.
6. Health Makes Wealth - Regular exercise not only benefits your body,
it boosts brain performance as well.
15. 15
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Essentials of an Innovator
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1. OBSERVE to Innovate
2. QUESTION to Innovate
3. NETWORK to Innovate
4. EXPERIMENT to Innovate
5. ASSOCIATE to Innovate
16. 16
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A Suggested Innovation Framework
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•Do not be afraid to fail
•Take risks
•Move your idea forward
Just Do
It
•Seek novelty in design
•Diversify
•Stop looking for the right answer; look
for many right answers
Seek
Novelty in
Design
•Define clearly your goals and
objectives
Set Goals and
Objectives
•Challenge all assumptions
•Seek opportunities to innovate
Identify Problems
and/or Opportunities
•Open your mind
•Mental Floss
•Discover your creative rhythm
•Health Makes Wealth
Seek Opportunities
•Become an expert in a field you
love
•Become passionate about your
field
Find what you love to do
19. Start-ups in India
To Boost up / Promote startup / Entrepreneurship
Core objective is to generate maximum Employment
Encourage the people who have the potential to innovate and start their
own business
To boost up Banking & Finance sector
Be a job creator
19
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25. 25
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Four risks
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Ignoring relevant competition – Pretty easy for a manager to believe that their product
or company is unique which can be a crucial mistake.
Reinventing the wheel –In order to make the competition irrelevant, first you should
know it – what your competitors do, how they do it, why they do it.
Swimming too far – do not attempt to go too far off your own competences.
No fish – this is the worst that can happen and it’s up to you how you will react.
