Name: Tushar Anand Vardhan

Registration No: 18BCE0805

Digital Assignment
(IIP-PHY1999)

INNOVATIVE PROJECTS:

“Imagination is not only the uniquely human capacity to envision that which is not, and therefore the
fount of all invention and innovation. In its arguably most transformative and revelatory capacity, it is
the power to that enables us to empathize with humans whose experiences we have never shared.”-
J. K. Rowling

INNOVATION AND INNOVATIVE PROJECT:

Innovation starts only when a person converts problems to ideas. Questions, problems and obstacles
give rise to new ideas. In order for the innovation to flourish, it needs a climate that will encourage
inquiry and will welcome problems.

Innovation might also need a system. Almost every organization has an innovation system. Some are
formal, designed by the leadership, and some are informal, which are taking place outside
established channels. Systems for innovation can be either of them that is, originator-assisted;
targeted innovation; internal venturing; continuous improvement; or strategic transfer.

Passion is what propels ideas. It’s what transforms other resources into profits, but it never shows
up on a balance sheet. Unfortunately, while pursuing a passion or following a dream, pain is a part
and parcel of that process. The leaders who innovate something need to take the pain with the
passion and learn to manage both effectively.

Co-locating drives effective exchange. It refers to physical proximity between people. It is a critical
aspect for building the trust that is essential to this process.

Differences should be leveraged. The differences that normally divide people — such as language,
culture, and problem-solving styles — can be a boon and not a bane to innovation. Differences can
be used constructively and they can be leveraged for enhancement of the innovation process.

CREATIVITY AND INNOVATION:

Innovation is understood as the ability for creating something new based on attained knowledge. For
something to be new or innovative and catch attention, it must be different from existing things.
The way of innovation is particularly crucial when associated with problem solving. Usually, the aim
of those who use innovation is to solve any problem or ease out work. Innovation plays a vital role in
almost every aspect of our life. Though it is usually associated with technology, management or
engineering, business but it might be useful on a personal level as well.

Innovation need not be unique to society as a whole, it could be unique to someone on a personal
level. There might exist a certain way of doing some random thing which a person might not be
aware of but by using it, life could be made simpler. Skilled or creative people might "think outside
the box." And not being tied down to a traditional way of doing things. They are simply
unpredictable.

The bitter truth about innovation is that while it has been successfully used many times to improve
society, many societies do not encourage it. Instead, they encourage people to follow the crowd. This
is very common in some societies in the Far East. While group think can be helpful in some
situations, it does not encourage much innovation. Many of the great discoveries which were made
in the last few years were made by individuals who did not follow the crowd. They were innovators,
and if you wish to become good at solving problems, you must become an innovator as well. Being a
follower is easy. Being a leader or innovator is not.

In some business trip plan, someone’s ability to solve problems in an innovative fashion may mean
the difference between their success or failure. It is not enough to go to college to get the necessary
skills to succeed. There must be knowledge obtained and used it to create something unique that
didn’t exist before. Industries which are innovative generally defeat those that are not. Sometimes
you must toss out the rule book and begin looking at things from a different angle. To become skilled
at solving problems, one must learn how to take the road less travelled.

Innovation is directly connected to creativity. Albert Einstein once said that "Imagination is more
important than knowledge. For knowledge is limited, whereas imagination embraces the entire
world, stimulating progress, giving birth to evolution." If you can understand this quote, you will
definitely have one of the key to become a good problem solver. The knowledge gained should be
applied uniquely in an creative manner in order to innovate something new or different.

ADVANTAGES OF INNOVATION IN BUSINESS:

Increase in productivity is achieved by innovation. When felt working is struggle due to routine stiff it
is important to start finding a new process.

In order to work smartly , think creatively. Focus on the programs, things to cut down and workflows
to increase productivity.

For example, the use of homegrown project tracker system to assign, monitor and prioritize tasks.
There might be other methods to do this, but building one to meet your specific demands is
recommended. Different methods can be adopted based on change in needs.

Testing new ideas is always preferred in business.

Marketing the business is also equally important. New brands like being human was one of an
innovative projects which with the help of marketing went to another level.

Once a unique character is developed it must be brought to good marketing standards. Just innovate
a marketing plan that suits the business personality.
Standing out in competition is also crucial. When you think innovatively, it becomes very easy to beat
out your competition. You just need to put in a little creativity and you can easily come up with
better ways to design products and connect with customers. Along with this, creativity will help you
figure out the right marketing techniques that will help your business grow.