Dr.Hemaprasann, S and Tharaniswetha, G.P and Nandhini, R India Means Business - Reform Perform & Transform. India Means Business - Reform Perform & Transform.

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Abstract

Innovation is a magical mantra without which no
business can survive today. It is the need of the hour
for a business to succeed. Innovation in Business
refers to Introducing new things, ideas or ways in
making, buying, selling or supplying goods or
services. Inculcating innovation in business will
take the business to greater heights. There are many
advantages of innovations in business such as
technology upgradation, earns foreign exchange,
new and different products, new customers, higher
profit, increases comfort, economies of scale,
increases competitiveness, reduces business risk, a
roadmap for expansion, effective utilization of
resources and so on. Innovations in Business also
suffers from several limitations such as wastage of
resources, overcome resistance, heavy investment
and so on. Comparatively, Innovation in business
has more advantages than limitations, proving that
innovation is highly essential for a business toda

Item Type: Article
Uncontrolled Keywords: Innovation, Business, advantages, limitations, Products
Divisions: PSG College of Arts and Science > Department of Commerce
Depositing User: Mr Team Mosys
Date Deposited: 29 Dec 2023 08:43
Last Modified: 29 Dec 2023 08:43
URI: http://ir.psgcas.ac.in/id/eprint/2083

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