The term innovation means something new to be created with
existing resources. However in modern terms innovation is seen as more of a
technological improvement of existing things and the literal meaning of
innovation is hardly followed. Innovation mindset is highly followed in
Businesses across all the countries however the same innovation mindset is not
followed in personal lives of people in their personal spaces.
Innovation in 20th Century took a shape where
everything we do optimized and simplified for better output. Major contributor
for this remained the innovation of technology in various fields of business.
Technology intervention created a synergy that doubled the profits with less
costs and efforts. Although it is a sign of great progress, Innovation without
technology interventions was ignored by most of the businesses. Concepts like green
productivity and Prahlad’s bottom of pyramid came by Non-technical methods to
reduce costs initially hit across all the industries to adopt the approach
however soon everyone shifted their focus towards technical innovations.
Great Importance of Innovation in Businesses across the
countries created an Innovative mindset amongst its employees and the
revolution thus took place effectively in the world of trade and business
however this innovative mindset created to employees did not create any innovations
in terms of personal lives. People got consumed with technology and technological
products and seemed to reduce most of the things they do in their personal lives.
Though Innovation revolutionized the way we work and our
businesses, quality time with family, fun games with friends and other personal
life enhancing tasks are fading away and the same innovation mindset is not
applied to improve them.
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