Session on Entrepreneurship Development and Innovation | MOM Programme | Day-17 | Session- 2 | MBA course in Bangalore

Posted by Dr. Anil kumar.R On 12/08/2022 07:21:52

This session was conducted by Dr. Anilkumar. R on the 17th Day of the MOM program. He spoke on how innovation is vital in entrepreneurship. He underlined that in an increasingly competitive market, innovative ideas will differentiate each start-up firm. In order to build an outstanding product, a strong brand, and grow a customer network, one has to innovate and defend their intellectual property. He emphasized to the students that innovation doesn’t necessarily imply inventing something new; instead, innovators frequently take something that already exists and enhances it, modify it, make it better, and make it the best for their clients.

A newspaper exercise was undertaken by breaking students into groups and a task was given to pick business ideas from the newspaper for additional analytical reasons. By reading basic headlines, on average, each team discovered 15 company ideas in 30 minutes. Innovative ideas are what will make a start-up competitive. It was an interactive session where students participated and exchanged opinions. He emphasized how innovation is a facilitator of entrepreneurship and a method of enabling people to take responsibility for their lives and economic success.

He stressed the significance of innovation in entrepreneurship and its relevance to the lifespan of a firm. The workshop also emphasized the possibility of innovation to make life more comfortable and the solutions that may be created to make it better, easier, and more helpful. Entrepreneurs must keep themselves abreast of the latest trends and expectations. Manufacturers are continually innovating to generate more without losing quality. Companies and organizations preserve innovation as part of their structure. Innovations contribute to the success of the company.

Entrepreneurs, as innovators, recognize more than just one answer to a need. They keep coming up with ideas and do not settle until they come up with several answers. Innovation is so crucial that firms frequently consider their employees’ inventiveness as a solution. The program was finished with the winner's team announcement and promotion of the student's ideas.

 

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