Pankaj Deshpande

In recent times, the concept of social innovation has gained significant prominence, as individuals step beyond societal norms to bring about positive change for the masses. Aspiring students are increasingly drawn to courses in social innovation, eager to explore the various types of social innovation prevalent today. Their motivation stems from a deep desire to make a profound and unprecedented impact on the world. Before embarking on a journey of innovation, let us delve into the true meaning of social innovation. What Defines Social Innovation? Social innovation revolves around the creation of groundbreaking ideas aimed at driving change and solving problems through diverse mediums. It entails utilizing creativity to seek solutions that enhance the overall well-being of people. By embracing different perspectives from both the affected and those aspiring to create an impact, social innovation fosters the development of ingenious and imaginative solutions. This transformative proces

Service innovation, a concept often overlooked and misunderstood, holds immense potential for those operating within the business sector. If you are curious to delve deeper into this fascinating topic, buckle up as we embark on a journey to unravel the intricacies of service innovation. Understanding the Concept of Service Innovation Process The service innovation process encompasses various aspects, such as the development of new or improved service products and innovation within service delivery. While service products may incorporate technological features, they are distinct from "technological innovation." Service design and the creation of new services are closely intertwined with this notion of the service innovation process . It involves innovative approaches to planning and creating services, be it through service delivery system advancements or service product innovations. These innovations can be technology-driven, technique-based, expertise-driven, or even involve

Product innovation is a pivotal driver of business growth, encompassing the development of new products and enhancements to existing ones to expand their applications. This article explores remarkable examples of product innovators who have revolutionized their industries. From Samsung's diverse collaborations to Lego's community-driven product creation and Mozilla's motivating open-source community, we delve into how these companies harnessed innovation to achieve remarkable success. Product Innovation Examples Here are a few product innovation examples that shine best in the business world: 1. Samsung: Embracing Diverse Collaborations Samsung, renowned globally as one of the most innovative corporations, has demonstrated its commitment to product innovation despite facing plagiarism accusations. By engaging in partnerships, Samsung consistently adds new features and connections to their existing product lineup. These collaborations not only generate revenue but also prov

Innovation is widely recognized as the key to enhancing productivity, fostering development, and improving living conditions. It generates employment opportunities, generates income, and positively impacts people's lives by creating valuable products and services. Generally, innovation emerges from the deliberate pursuit of advantages, which is acknowledged as the wellspring of innovation. Oftentimes, innovation is mistaken for advancement. While innovation involves creating new things, advancement is focused on designing effective implementation strategies. Throughout history, numerous companies have come up with ingenious innovations or products but failed to bring them to the market. 7 Different Sources of Innovation Here are seven sources of innovation proposed by renowned management guru Peter F. Drucker in his book " Innovation and Entrepreneurship ." The Unexpected  Innovations can occur unexpectedly and by chance. A groundbreaking idea or product can be stumbled u

Disruptive strategy alludes to the innovation that changes expensive or exceptionally sophisticated products or services—already available to a top-of-the-line or more gifted portion of customers—to those that are more reasonable and open to a more extensive population. This change disrupts the market by uprooting long-standing, established contenders.  It requires empowering technology, an inventive plan of action, and a conscious worth organization. It isn't the most common way of improving or upgrading items for a similar target group; instead, it includes the technology used to make them simple to use and accessible to the bigger, non-targeted market.  Clayton Christensen popularized the possibility of disruptive strategy in the book ‘The Innovator's Solution’, which developed his ‘The Innovator's Dilemma’ published in 1997. Importance of Disruptive Strategy The need to accept the fundamentals of disruptive strategy isn't only for those grounded businesses. Platfor

Digital technologies have progressed quite rapidly than any innovation in our history – reaching around half of the global population in two decades and changing civilizations. It has improved connectivity, financial services, and trade services; technology can be a great counterbalance.  For example, AI in the health sector can be used to diagnose diseases, cure patients, extend longevity, and even save lives. In the education sector, distance learning and online learning environments have created programs for students.  Public services are also available and responsible across blockchain systems and not arduous because of AI support.   5 Technologies that can accelerate innovation Here are some of the latest technologies that can help accelerate innovation in the future: Artificial Intelligence: Artificial Intelligence is one of the prime emerging technologies because of its considerable influence on how we work, live, and do things. AI is prominent because of navigation apps, image

Are you looking for the perfect course to learn digital transformation? Tired of finding courses with an inadequate syllabus? Enroll in MIT ID Innovation today! The world is slowly transcending into a digitally controlled place with digital courses and skills dominating the sphere. People understand the importance of the digital sector, and the workforce is gradually shifting towards digitization. India is not behind other countries when it comes to digitization, as it is one of the top countries promoting digital skills in the world. The IT sector of our country is well-developed, leading to growth in digital transformation and digital marketing niches. Digital transformation courses in India are particularly important to develop your business into a successful enterprise. Digital Transformation: An Outline Digital transformation is a process that involves the movement of a business enterprise from its age-old procedures, order of work, and hierarchy to something more suitable and co

Innovation in education is becoming more than just a catchphrase in schools. It is quickly becoming a popular method of learning and instructing for both children and educators. Students and teachers are encouraged to investigate, discover, and use all of the tools available to learn something new through innovation and transformation. Innovation entails a new way of approaching and solving problems.  It also benefits education because it pushes students to solve real problems at a higher level of understanding. Innovation does not always imply technology application or the generation of new inventions, though these factors can help. Innovation entails a shift in thinking, which aids in the development of student's creative thinking and problem-solving abilities.  What is Innovation in Education? In general, innovation entails the development or introduction of new products, procedures, or business strategies for the benefit of a company. Also, innovation in education likewise aim

In this atypical moment, we live in; where the dimension of digital transformation gains more meaning, the question is: how to reinvent your company and survive these changes? We should learn how to reinvent our business to survive crises and keep pace with the ongoing transformations. With innovation techniques in business and an agile mindset, there are many paths to success.  In context with the current time, the digital era invites people and businesses to this type of reinvention, which impacts their work models, products, services, and processes, including identifying job opportunities in the crisis. So, with this article, learn about the need to "recycle" your business with applied innovation.  To Reinvent Your Business, Innovation Techniques are Essential Digital Transformation is much more than technology, as it offers us a new reality, all connected and with real-time information.  Assuming that digital is something much broader and involves human beings with techn

Innovation and entrepreneurship go hand in hand. If a company does not position itself – and is established – as a business that changes and follows trends, it may soon close its doors before completing a tenure of 2 years in the market. It would be correct to conclude that an innovative entrepreneur is essential for the survival of the business.  The main point is that many entrepreneurs still don't know how to take the first step. Is it your case? So keep reading and see how to reinvent yourself and, of course, learn how to develop that much-needed profile for any company's success.   What is it to be innovative when we talk about being an Innovative Entrepreneur? No matter what your market niche, if you want to be an entrepreneur, you need to innovate. More than just creating new solutions for the market in which we operate, innovation is widely seen in day-to-day solutions and process improvement, especially problem-solving.  Being innovative is nothing more than being ope

In a world of high competition and with changes that come fast, innovation is the watchword for companies that want to remain competitive. However, the intrinsic costs of this activity often end up preventing its implementation, which can hamper the company's future.  However, we can overcome this dilemma with a simple and effective method that you can start adopting right now: creating a culture of innovation in your organization. Stay with us and read on to understand more!  Learn about innovation culture for creating a culture of innovation In the dictionary, the word culture is defined as the "set of acquired knowledge," as well as "the norms of behavior, knowledge, habits or beliefs that differentiate one group from another." Therefore, achieving an innovative mindset is not an easy thing: it must be conquered.  The same thing happens with the innovation culture. In general, the corporate environment does not create difficulties for adopting and executing

Microsoft's business analytics platform, Power BI Analytics, aids data analysts, scientists, and other technologists to sort through the dataset and acquire critical information quickly. It competes with Tableau and different types of business intelligence software, but it is just one of many tools for many analysts.  Knowing Power BI can be helpful if you want to work in data analytics or business intelligence (especially if your target company has a Microsoft-centric tech stack). However, do you need certifications to get a job that heavily relies on Power BI? Then you are at the right place. Give this article a read and learn about Power BI Analytics certification.  Why get Power BI Analytics Certification? Learning to use in-demand technology is always a wise move, and a Microsoft BI certification can give you something to talk about in a job interview. You will show initiative and experience in the tool; you need to know how to apply it.  Some technologies are cumbersome to l

Do you wish to build an innovation-focused culture in your organization? Are you striving to turn organizational innovation into a reality? More complicated and lead to several Innovation mistakes.  Innovation processes are the most crucial methods in companies. Innovations work with the prospect, so the track and the purpose are only partially understood and foreseen, and a person works in an unpredictable environment.  Apart from this, there are dynamics such as unforeseen variations in the work atmosphere that make devising and implementation even more complicated and lead to several Innovation mistakes . Another problem is the high interdisciplinarity of innovation methods, where nearly every business segment is included or touched. Top Innovations Mistakes that you must avoid Are you weary of wondering why your team’s plans don’t always appear to move out as intended? Or do your team’s difficulties arise from the idea-generating stage?  When it comes to innovation, numerous proble

Innovation is the only thing constant in both business and life. For graduate scholars, it’s a necessary element of any thriving degree program. This is why many young individuals are moving towards making a career in Innovation by enrolling themselves in professional institutions to learn Innovation from experts.  Innovation can arrive in various forms, and they comprise the delivery of the program itself and the learning curriculum within the innovation program. Hence it might not be wrong to say that every degree program should always hold the right element of Innovation, especially in an age where technology continues to influence how businesses operate. Top Reasons Why You Should Learn Innovation Management Innovation Management is a business discipline that nurtures and promotes organizational Innovation and includes techniques that help businesses strategically.  Getting a Post Graduate degree in Innovation Management will equip you to discover the widespread challenges compani

Everything revolves around how innovative and compelling the products and services developed are by a firm or an enterprise in the modern world. Innovation is the key to growing businesses. A business that is capable of generating new items can set itself apart from its competitors. As a result of this, they obtain a higher market drive. What is Innovation? What makes it so crucial for businesses?  What is Innovation? Innovation in businesses is all about creating new products, ideas, and processes. However, this is not the only definition of Innovation. Innovation also includes modifying existing processes to meet the requirements of end-users. The main aim of these innovations is to reach and gain loyal customers while also solving and giving them products needed in the market.  One of the key reasons why Innovation is vital for firms is that it adds value to the organization and instantly generates market demand. As a result, the company's revenue and reputation increase. Apart

Modern solutions are all about Innovations. We have come a long way over the past few decades in terms of technology. However, Innovation isn't just about developing new products that satisfy the needs of people. It also depends on recreating already existing products. Read on to find out everything about incremental innovations and their strategies.  What is Incremental Innovation?  Incremental Innovation is all about creating a series of improvements for the products and services of a firm that already exists. The primary goal of incremental Innovation is to set itself apart from the competition while simultaneously providing the best products. The role of these innovations is to improve and adapt an existing product rather than creating a completely new one. Apart from this, it aims at developing cost-effective strategies to produce the best outcomes. Researchers state that approximately 98 percent of innovations are incremental innovations. The most reputed and recognized comp