Pankaj Deshpande

How amazing it is being able to form ideas and concepts through the genius of the human brain. This process is termed as the Innovation Process. The most interesting thing about innovation is, in fact, being able to turn an idea into a successful project. However, the innovation process is a complex process. What is Innovation? The Innovation Process is the structure that ensures your innovation team has novel ideas and the ability to successfully implement them. With the innovation process, you have a strategy that compels you to drag it all the way to the finish. It also increases the efficiency of actions, as it places innovation that is continuous.  Importance of the Innovation Process Ensures business survival : Some companies have been on the market for years and, therefore, remain in their comfort zone. Meanwhile, other businesses are investing in the Innovation Process to meet the current needs of the consuming public.  Organizes internal processes : Innovation manage...

Definition of Innovation and Invention The actual development of a new concept or theory is known as invention. It is described as the creation of a concept for doing or doing something without first confirming that it works or is commercially useful. Invention is impossible without creativity, but creativity alone is insufficient to successfully create an idea. In the industry, innovation binds everything together. The impacts of having a strongly aligned innovation strategy (with the overall company plan) and a pro-innovation culture on the growth of the enterprise's value were explored in a Booz & Co. research, which found a 30% improvement over businesses that didn't have both. Innovation entails commercialising an invention and promoting its widespread adoption. This is the point at which big ideas, after they've been fully created, are presented to the public. But despite all this, according to a survey by McKinsey Global Innovation, 84% of executives think that i...

 What is Disruptive Digital Technology? Disruptive digital technology is an innovation that disrupts and supersedes the existing technology, thereby significantly altering the pattern of the operations of industries, business enterprises, or consumer behavior with its superior attributes. This term disruptive technology was defined and popularized by Clayton M Christensen in 1997. History has witnessed the evolution of disruptive technologies from time to time. Think of how the intervention of digital imaging displaced the conventional Kodak films. Likewise, economies get disrupted by such innovations and tend to adapt and evolve in due course. The change is inevitable. Technologies keep changing, so is our way of life.  Disruptive digital technologies for tomorrow: Disruptive digital technology is transforming every industry. Microsensors, ‘smart’ gadgets, A.I., nanomaterials, and cloud computing are innovative technologies transforming the world. Let’s take a look at five di...

In the last decade, service innovation has become increasingly common as a means of constantly improving current services and creating entirely new ones. Read on to learn more about what it means and why it's becoming incredibly relevant and important!  What Service Innovation IS exactly! The innovative application of thought to the delivery of utilities and services is known as Service Innovation . Established programmes can be enhanced, or entirely new services can be created. Consumer-centric : Service innovation focuses on identifying customer desires in order to make services more user-friendly, sustainable, and meaningful. The consumer interface is the main priority. Holistic : The premise behind holistic Service Innovation is that the whole organisation is engaged in the process. As a result, the emphasis is not only on the customer-facing touchpoint, but also on internal business procedures and staff who are critical to the service's operation. Interdisciplinary : Custo...

What is Digital Innovation? Digital innovation is an extremely important way to engage with new people and organize internal affairs at better means. Since market conditions develop in new ways every day, you need to catch that pace. Accelerating Digital Innovation helps you achieve this and introduce new products and services into the field.  Why is Accelerating Digital Innovation important? In today's era, it is extremely difficult to think of a company that does not function with the help of digital tools. Digital Innovation: These digital tools can be enhanced and the phone provides better results and increases the efficacy of a business model. According to the latest study conducted, approximately 89% of the major organizations look forward to adapting digital innovation. It was also noted that organizations that did not stick digital innovation at par with the current scenario had to face the consequences.  Keys/Ways to promote accelerate digital innovation Understand ...

Making a career in Innovation has grown as one of the most promising professional fields that many young individuals are leveraging in today’s time. For many professionals and students, getting a postgraduate degree looks like the subsequent reasonable step to promoting their career. Recently, many students are opting for different post-graduation options like pursuing an MBA in Innovation. This is the reason why an MBA degree in innovation has gained a lot of popularity nowadays. Earning a Master’s Degree in Innovation can assist students in building a stable career for the future.   What is Innovation Management? Innovation Management is a business field that promotes and fosters organizational innovation and involves methods that help the industries strategically. Doing a Post Graduate Program in Innovation Management at the university level will equip you to determine the prevalent difficulties businesses meet to favourably innovate, whether that business is an established...

Career options nowadays are not just limited to the conventional professions like being an engineer, doctor or lawyer. With technological advancements, the modern world is moving fast, and people are now exploring some out of the box career options like Masters in Design.  An MSC in Design Thinking is something that many young individuals are fancying in the current times. One of the fascinating features of studying and getting an MBA in Design Management Degree can provide students with an extensive assortment of job opportunities to pursue right after earning a degree.  Reasons why you should get a Master's Degree in Design A career in design allows students to focus on their interest in designing with no limit to ideas and thoughts. Earlier, there were not many institutes offering design courses other than the limited course options offered by the government institutes. However, with the advent of time and students' interest in design fields, numerous institutes are now off...