Keep innovating…

Keep innovating….

A few days ago (5th May 2011) I had posted a piece titled :” What Is Innovation ?”  (Link: http://seeingwithc.org/jsblog/?p=1819 )

There was an article in FE (Financial Express) about building up our country’s innovation efforts.

To read the article,go to the following link :

http://www.financialexpress.com/news/column-building-india-innovation-inc/791663/0

In response to the above article,I had posted the following  letter to the Editor on 17th May 2011 : 

 

Dear Sir,
This refers to Arindam Bhattacharya’s column titled:” Building India Innovation Inc” ( FE 17th May 2011).I agree wholeheartedly with the author’s views.
What exactly is innovation ? Innovation is a subject which has always fascinated many writers,management gurus, thinkers and industrialists.Innovation has been defined by many writers and experts in different ways according to their perceptions. In fact,
Innovation Management has now become a hot topic for debates in many B Schools.
Sadly,there is often a confusion between innovation and invention.An eminent authority,Daniel Scocco clarifies that “invention refers to new concepts or products that derive from individual’s ideas or from scientific research. Innovation, on the other hand, is the commercialization of the invention itself.” Since innovation is also considered a major driver of the economy, especially when it leads to increasing productivity, the factors that lead to innovation are also considered to be critical to our policy makers. Further,to be successful,innovation has to pass through three stages viz.innovation, invention, translation and commercialization. It is felt that the most difficult and challenging part is the last stage.In today’s competitive market, the ultimate aim of inovation is to develope the ability to deliver new value to customers-be it in banking,in retail,in FMCG or in case of Automobiles-as in Nano’s success story. In essence,the focus of innovation management is to allow the organization to respond to external or internal opportunity,and use its creative efforts to introduce new ideas, processes or products.Let us sincerely hope that Indian corporates and R&D departments,will initiate all out efforts to go for Innovation in various fields,as exhorted by the author.
 – J S BROCA
    New Delhi

 

                                      

Today’s FE carries an abridged version of my letter. Here is the letter as published in FE : 

Letters to the editor

The Financial Express
Wednesday, May 25, 2011 
 
 
Keep innovating

Apropos of the column “Building India Innovation Inc” (FE, May 17), there shouldn’t be confusion between innovation and invention. Invention refers to new concepts or products that derive from individual’s ideas or from scientific research, while innovation is the commercialisation of invention. Since innovation is also considered a major driver of the economy, especially when it leads to increasing productivity, the factors that lead to innovation are considered to be critical. Innovation consists of the three stages of invention, translation and commercialisation. And the most challenging part is the last one. In today’s competitive market, the ultimate aim of innovation is to develop the ability to deliver new value to the customer. Let’s hope that Indian corporates and R&D departments initiate all out efforts to go for innovation in various fields, as exhorted by the author.

JS Broca, New Delhi

For those who wish to read the letter directly on FE’s website,they can go to the following link:

http://www.financialexpress.com/news/letters-to-the-editor/795052/0

 

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1 Response to Keep innovating…

  1. Bruce Dowd says:

    How do you do,dear ? I was introduced by one of my roomates to visit your website. I like the look of the site very much. The article is very insightful. Please keep up the good work. I definitely will read it frequently and inform my friends.

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