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Innovation alone can drive SMEs on the path to success
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Bikky Khosla | 27 Jan, 2009
In a global economy, using traditional methods of finding customers or buyers no longer works. In business, entrepreneurs will have to take to raise their bar to a higher level at par with the best in the world.
I know it will not be that easy for Small and Medium Enterprises (SMES) considering the limited resources they have in hand. But in more cases than one, they are missing the most obvious.
There are ways and means of cost-effective innovations which SMEs are still wary of. For instance, the use of the Internet is very minimal amongst SMEs. While it's a fact that Internet usage in a business' operations - be it for research or promotion - can be cost-efficient, yet SMEs resort to using traditional or obsolete means both in R&D and promotion and marketing.
Having said that, a proactive role by the government in its implementation is very essential. Without doubt technology promotion and development lie in promoting innovation in SMEs. Considering the financial crunch SMEs face at every step, the development of a stronger manufacturing base, and a further stepping up of value addition in the sector have to come from the government. Boosting entrepreneurial morale is the need of the hour.
SMEs require a big thrust in the area of innovation and considering the strong public R&D base in India, a major change in manufacturing should be brought about by technology development.
On the other hand, SMEs too need to learn, experiment and assimilate lessons of relevant innovations. Innovations take place at all levels within and outside the firm. However their success depends on how much the organization can learn and share within the parameters of the company.
Each and every SME needs to incorporate a dynamic and practical programme that can help it to grow and prosper by connecting it to the markets it wants to explore.
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small & medium enterprises
Ravi Ajitsariya | Wed Feb 4 17:38:00 2009
In today's world, it has become verydifficult for small enterprises to servive especially in the wake of throat cutting competition amonst the traders. it is the company who is getting the fruits by making the competition mare harder and smooth amonst the traders. The market forces cannot just penetrate into the very roots of the business, but hard hit the businessman,who cannot judge the basd intention of the multi-national companies, who are out to do business at any means. The lure of schemes and offered to the traders gives a trap to them leaving behind sleepless nights and hard days. How does opne stand in the market, in the days of the mall cultue. There are lots of practical question which are unanswered.
Ravi Ajitsariya
raviajitsariya@rediffmail.com
Innovation for India
Adrian Akau | Wed Jan 28 22:11:47 2009
I agree with Bikky but innovation should extend to technology. I think a good export item would be buoy wave generators. A Ukraine company has developed 5 Kw wave buoy devices. They are 500 Kg, made mostly of plastic parts and can be anchored in 10 meters of ocean water with a power line coming to shore. The company has spent much on R and D and is looking for a company willing to undertake production as a joint venture. Should you have any interest, please contact me at adrianakau@aol.com for information.
Adrian Akau
Innovation alone can drive SMEs on the path to success.
PRAVIN V SONI | Wed Jan 28 01:57:28 2009
Every human being is filled with Tremendous potential and ideas. Unfortunately, under the feeling of insecurity and pressures of life one is not aware of it, nor does one attempts at exploring it.
For any problem of life, one just needs to sit in, take deep rhythmic breathing and start contemplating on the problem, how it can be addressed in different ways by using ones own talents and strengths. Surprisingly, one will find the flow of solutions coming one after the other.
Same thing applies while innovating newer and better ideas. Presenting same things in a different and better way only will keep the SMEs perpetuating.
The role of govt limits to providing SME friendly atmosphere and policies.
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