Pankaj Deshpande

Product innovation is exactly what it sounds like; it involves coming up with business innovation ideas to develop new products or improved renditions of existing products to make them more useful. The rollable LED television by LG is one of the best examples of Product Innovation. Other good examples of product innovation are Nike, Spotify, Amazon. Business innovation ideas that stand out are shifting focus from mass production to mass customization, serving customers uniquely, as a service and differential experience. According to a study, 63% of the clients appreciate it when a company offers them a new / upgraded product. Product innovation can be of three different types.  A brand can develop an entirely new product.  The brand can improve the performance of an existing product.  Last but not least, the brand can add new features to the existing products.  Product Innovation for Business Growth   Expansion : Effective product innovation sires more developm...

How should Employees come up with Innovative and Unique Business Ideas? Coming up with business innovation ideas is a cakewalk for some people, but at the same time for others, it is a tough row to hoe. In most situations, a person knows that they want to start a venture, but they do not know the process or the initial steps. The foundations of a stable business are creative and innovative ideas and product innovation. The ideal approaches to incorporate innovation in entrepreneurship are to move toward it from various angles. Here are some of the tips of Innovative and Unique Business Ideas for Employees . Tips for Coming Up with Business Innovation Ideas Product innovation is easy as pie if you know the right way. Therefore, the following are some remarkable suggestions to help you integrate innovation in entrepreneurship -  Look for a Problem Instead of looking for a solution, try to find a problem. Do proper research to find out what the needs in the market are. Who could be y...

Since 2018, the world has grown up in terms of innovation and technology.  Digital innovation is trending, which helps to grow from offline to online business market. More than 50% of businesses are now regulated and managed online by using 47% of Artificial intelligence technology. Also, many new web technologies are getting developed every day, so keeping it up with the evolving technologies and channelizing it for boost is essential. Discussed below are the top 10 innovative technologies that will impact the business and will help in growth and expansion. Artificial intelligence  These days AI – Artificial intelligence technology, used in most businesses for security purposes and makes work easy. Today in more than 47% of online companies, AI applications are being used. From forecasting consumer behavior to giving customer service via chatbots, enabling personalized advertising, product recommendations, and much more, AI is changing the conventional approaches.  5G n...