Change is inevitable in every system or process in any field under consideration. The individual innovation may be useful in perceiving his daily activities or his job activities with better utilization of time, better quality and with better performance level. An innovator always tries to be different in execution. The risk factor in ascertaining the profitability of the process may confine to the individual and may not affect a group or society. The individual innovator’s ideas may not be always acceptable by the society.
The innovator has to persuade the external environment to accept his ideas. The success of individual innovation depends on his ability to different his idea with other significant steps in execution. An innovation in a firm can create a unique process flow or an add on to an existing product or service in offer. The innovative product may lead to create better product or service value for its client. The innovation may enhance the revenue generation and decrease the production cost on the product.
The innovation results may confine to the firm and may not cross the designing rooms of the firms. The innovation may be expensive. The innovation may at times not be accepted in the market or the business environment. Innovation in universities may lead to better knowledge sharing in terms of new learning tools, new educational systems with wider prospects to enlighten the thought process of a student. Innovation in universities follows the current trend in the external environment and the product i.
e the students will be more competitive in their own core field of study. An university with better teaching and learning methodology will provide a better innovation and a better innovator among other worthy innovator create a better firm. Governments innovation strategies may lead to better flow of funds, decrease the project implementation time. The reforms execution process is very essential in countries like India, which are considered as most diversified in terms of religion, language and expanse.
The innovation may in the form of public-private partnership ventures; a new form of tax reform, a new project to transport system in a densely populated city. Nonprofit organizations should innovate to various other new service areas and concerns. The type of service reach can be for the new form of epidemics like tsunami etc. The service reach, the training process for the volunteers, the fund raising process the executive panel invitation, the type of promotional means, the type of collaboration with other significant groups etc can changes the dynamics of the operation.The innovation process frame may be a painstaking process and time consuming process that may delay in addressing immediate issues.
http://unpan1. un. org/intradoc/groups/public/documents/un/unpan013661. pdf http://economics. about. com/library/weekly/aa060204a. htm http://nonprofit. about. com/od/nonprofitbasics/f/busplan. htm http://www. acrologic. co. uk/lib/innentown. html http://64. 233. 183. 104/search? q=cache:oVzPAcsgPscJ:blog. nasscom. in/emerge/2007/10/04/innovation-%E2%80%93-a-must-for-indian-it-sme-firms/+firms+as+innovators&hl=en&ct=clnk&cd=7&gl=inSample Essay of AssignmentExpert.com