Senior business executives on Saturday said innovative practices will add impetus to business houses struggling to sustain in today’s competitive world.
They were speaking at an international workshop organised by Acropolis Faculty of Management and Research based on the theme, ‘Innovative business practices for creating value in global era’ on Saturday in here.
The examples of Samsung, Apple and Tata were being echoed in the seminar hall of Acropolis Faculty of Management and Research, not for their market capital but for their innovative products that are jacking them to be the leaders of their respective markets.
Chief Guest on the occasion and director, Jawaharlal Nehru Institute of Business Management, Ujjain, Dr DD Bedia said, ‘The mantra for survival and sustainability in business is innovation and it is the need of the hour to come forward with new ideas and products to achieve great business life and future endeavours”.
He further emphasized on combining low operating cost with values to the products to sustain in the market for a longer period. Innovation is a vital process, but implementation of the idea is as much important as generating it.
One of the special guest of the event and vice-president Avtec India Limited Manoj Mishra laid stress on the implementation of the innovative ideas to make it useful for the society.
“Generating innovative ideas is only 20 per cent work done. Rest 80 per cent and the important part of the process is its implementation’, said Manoj. Focusing on the implementation of the innovative ideas he also stressed on the patenting them to develop it as an intellectual property.
Special guest in the conference and unit head Rosyblue India Limited, Subhash Mathur, said that one need not to be highly qualified to generate innovative ideas and thoughts, it can come even from a casual labour.
Later on the occasion, the third volume of Acropolis journal ‘Shodh Ganga’ and ‘Conference edited volume’ was released by the dignitaries.
Earlier, the event was commenced by the traditional lamp lighting ceremony and the welcome speech by director Acropolis Faculty of Management and Research Dr Sumer Singh.