Innovations are happening everywhere and at an unprecedented speed. Strategic management, innovative creation, and tactical thinking are essential links to build a successful commercial venture. How these concepts to fuel enterprise is something entrepreneur’s never stopped exploring.
There is no doubt that the pulse of corporate evolution lies in innovation. Today, people progressively realize that innovations are even more serious than in the past. Thus, business companies invest in knowledge-based capital as an intangible asset such as innovation to survive and climb in the global market. To survive, rather than the productivity of the manual labour, companies need creative and knowledgeable workers whose novel ideas are, to a certain extent, a necessity for the companies’ continued existence and future success.
Contemporary society is highly reliant on innovations. A learned businessman like Mr. Maheshkumar Jogani, CMD of Jogani Reinforcement, stresses that Executing an idea that addresses a specific challenge and achieves value for both the self and society. What is important to understand is that the innovation need not be grandiose. Instead, it must be simple and focused on addressing a specific issue or need to be effective. It is always better to start small, requiring limited resources, few people, and only a small market. Otherwise, it will be too late to make the required changes and adjustments that are consistently required in the early stage. Innovations should be taken as a never-ending process, but at the same time, they should not be too complex to be handled by an ordinary human.
A great example can easily make one understand the above logic. Karsanbhai Patel, the billionaire industrialist and founder of Nirma Group, did not invent detergent but what he worked on was an innovation. Instead, his innovation in making limited and low-cost products, its distribution, money-back guarantee, housewife-friendly advertisement, and appealing price point, translated into Nirma story where an Indian entrepreneur took over the dominant MNCs and revolutionized the rules of the detergent market.
According to Mr. Maheshkumar Jogani, a prominent figure in reinforcement technologies, “Innovation is easy, effective and economical tool for asset creation.” The scholarly and successful entrepreneur leads the concrete fiber manufacturing company Jogani Reinforcement dealing in next generation Polypropylene, Polyfiber 3S, Synthetic Monofilament Fiber, Concrete Fiber and Construction Fibre which are proven solutions for Crack Reduction in all type of Constructions and Infrastructures. Mr. Jogani is a new-age entrepreneur who believes that a business’s core strategy should be focused on quality research and development. The reason why he created innovative methods and patented the same. His work is widely acknowledged by Indian and International Construction Companies.
India has already registered itself as the world’s foremost outsourcing terminus for globally, predominantly in the knowhow sector – but the time is ripe for the world’s most populous country to reinvent itself as far as the Fourth Industrial Revolution logic goes on. We have realized the importance of innovation, often termed “knowledge-creation,” in our country’s economic growth. Investing in such intangible assets is to be considered strategic investments in the long-term growth of businesses.
There is a burgeoning start-up and innovation culture, as shown by the Global Innovation Index, where India has improved in creating a new tech-enabled ecosystem, thereby amending its ranking from 81 to 52 between 2015 and 2019. As an artificial intelligence innovation hub, India ranked eighth in the top ten countries By AI patent families, reveals a study. 21st-century pioneer companies are already using AI to innovate and grow fast.
The bottom line- Businesses that understand how to harness AI can surge ahead. Those that neglect it will fall behind. www.joganireinforcement.com