UGC Approved Journal no 63975(19)

ISSN: 2349-5162 | ESTD Year : 2014
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Published in:

Volume 6 Issue 5
May-2019
eISSN: 2349-5162

UGC and ISSN approved 7.95 impact factor UGC Approved Journal no 63975

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Published Paper ID:
JETIRCZ06006


Registration ID:
217393

Page Number

43-48

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Title

PROBLEMS AND PROSPECTS OF BUSINESS INNOVATION IN INDIA

Authors

Abstract

Business Innovation is when an organization introduces new processes, services, or products to affect positive change in their business. This can include improving existing methods or practices, or starting from scratch. It should improve on existing products, services or processes or it should solve problem or it should reach new customers. Innovators face problems and challenges mainly in the areas of financial assistance and marketing of their innovation. Innovations that fail are often potentially good ideas but have been rejected or postponed due to budgetary constraints, lack of skills or poor fit with current goals. Failures should be identified and screened out as early in the process as possible. Early screening avoids unsuitable ideas devouring scarce resources that are needed to progress more beneficial ones. While learning is important, high failure rates throughout the innovation process are wasteful. The causes of Product failure have been widely researched and can vary considerably. Some causes will be external and others will be internal. Internal causes of failure relate to those associated with the innovation process itself. The purpose of the business innovation process is to create value for the organization. That value can come from creating new revenue opportunities or driving more revenue through existing channels; from creating efficiencies that save time, money or both; or from improvements to productivity or performance.

Key Words

Innovation, Business,Products,Services.

Cite This Article

"PROBLEMS AND PROSPECTS OF BUSINESS INNOVATION IN INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 5, page no.43-48, May 2019, Available :http://www.jetir.org/papers/JETIRCZ06006.pdf

ISSN


2349-5162 | Impact Factor 7.95 Calculate by Google Scholar

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 7.95 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Cite This Article

"PROBLEMS AND PROSPECTS OF BUSINESS INNOVATION IN INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 5, page no. pp43-48, May 2019, Available at : http://www.jetir.org/papers/JETIRCZ06006.pdf

Publication Details

Published Paper ID: JETIRCZ06006
Registration ID: 217393
Published In: Volume 6 | Issue 5 | Year May-2019
DOI (Digital Object Identifier):
Page No: 43-48
Country: Karur-06, Tamilnadu, India .
Area: Engineering
ISSN Number: 2349-5162
Publisher: IJ Publication


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