Editor's Picks
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Original Ideas, Innovation And Entrepreneurship
With many start-ups, especially in IT and Software sector, the originality in idea of a product is a must. The new utility based ideas could pave a way to success and establishment. The utilitarian approach should be considered in perspective of the current trends and future developments. Such thinking could help in making ways to innovations. However, innovations are not only based on original ideas. Many times, a new combination of existing models can be profitable innovation. Facebook’s model is best example of it. A workable business idea based on existing technology is another path to success.
With my own company ArcGeosystems, I have introduced the low cost digital mapping, Geographical Information Systems (GIS) applications and Asset Management/Facility mapping (AM/FM) using new innovative process based on available resources. With the years of experience in this domain, we learn to have a innovative way to produce more accurate products with available resources and technological knowhow. Thus, the applicability approach is another way to innovate new process.
In other words, the success of start-ups or SMEs depends upon the dynamic adoptability of original idea, business management and workable process. According to the changing situations, we must change our strategies to adopt the new business environments.
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