Importance of Innovation in Business: A Study on Diverse Start-ups in India

This study explores the significance of innovation in business and its impact on diverse start-ups in India. It discusses the various types of innovation and their implementation in different companies. The article highlights the importance of innovation in facilitating organizations with an edge in successfully penetrating thriving markets and provides an improved connection to emerging markets. It also notes that the key to surpass the need to successfully target areas which require innovation can enable organizations to efficiently progress towards their set goals and objectives.

Running head: CREATIVITY AND INNOVATION
CREATIVITY AND INNOVATION
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Innovation is important in business because it facilitates organizations with an edge in
successfully penetrating thriving markets at rapid pace and provides an improved connection to
emerging markets. Innovation can proficiently advance companies to bigger opportunities
especially in economically developed nations. Thus, a company with an innovative culture have
has the propensity to grow easily regardless of the fact that creative process does not always
works in undemanding manner. Though tried and tested methods may be consistent but trying
out new things is considered as a sensible experiment. In the article “Leading Innovation-
Innovation is Simple, but Not Easy!” published on Mindwerx.com, Bill Jarrard has noted that
areas regarding innovation tend to emerge from systemic issues or weaknesses with a business
along with shifting consumer demands or technological advancements (Jarrard, 2018).
Furthermore, Jarrard (2018) has essentially noted, that the key to surpass the need to
successfully target areas which require innovation can enable organizations to efficiently
progress towards their set goals and objectives. Meanwhile researchers studying business
innovation are of the perspective that sincere and effective form of creativity and innovation can
only develop primarily with successful implementation of new product, service or strategy.
Though author on the other hand has negated such idea but it is important to distinguish the need
of innovation of newly developed products in order to attain immense success in prospective
days.
Meanwhile, article “Doblin - Ten types of innovation” revealed that though innovation
faces diverse challenges, many business enterprises have been embracing innovative ideas to
advance towards success (Doblin, 2018). For example, Walmart Inc, an American multinational
retail corporation continues to develop lucratively through major process innovations based on
real-time inventory management systems, price or delivery agreements with merchandise

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suppliers which efficiently enable managers to distinguish shifting consumer attitudes and
further aid to act responsive with new pricing as well as merchandising configurations (Gudem,
Steinert & Welo, 2014). On the other hand, based on Doblin-Ten types of Innovation, Harley
Davidson has been creating a worldwide community of millions of consumers to innovate their
consumer experience as part of the way the customers primarily perceive, think and feel
themselves (Gudem, Steinert & Welo, 2014). However, many companies face difficulties in
embracing innovation because of fear of uncertainty to involve in ambiguous work of innovation
(Doblin, 2018).
1. Unique Identification Authority, start-up business firm aiming to offer paperless
provisioning of banking services as well as welfare benefits to diverse range of Indian
communities who have been devoid of authenticated identification until recent past. As
the organization deals with multimodal bio-metrics such as fingerprint services,
photographs and iris scans, it should primarily implement product performance type of
innovation belonging to offering innovation category (Uidai.gov.in, 2018). This type of
innovation type primarily will deal with the value of the product which this organization
is offering. Through innovative implementation of product performance the company can
efficiently recognize various features as well as the quality of service it is offering as it
primarily deals with welfare of millions of people in need of proper identification
(Uidai.gov.in, 2018). This type of innovation will be a prosthesis which will correspond
to the needs of marginalized communities and further deliver efficient services to its
clientele base (Fast company staff,2014).
2. Zipdial, the second innovative start-up business organization fundamentally developed
its business processes to circumvent costly call and messaging charges in order to convey

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marketing or advertising messages (Fast company staff,2014). Recently Zipdial has
collaborated with broad range of clientele of multinational companies like Coca-Cola and
Dove and facilitated them to send cost free and unlimited messages to their customers for
any upcoming deals, offers and product launches (Zipdial, 2018). Thus according to
Doblin’s innovation forms Zipdial can apply network and alliance type of innovation to
refurbish their current business process. Furthermore, through improved networks and
alliances, Zipdial (2018) can penetrate into varied business domain for mutual benefits.
3. Innoz, the Indian mobile technology company is one renowned company recently has
been offering platform for offline Internet access in under developed regions of the
country. As the business aims to set up Internet facilities in under developed regions of
India, Innoz must implement service type of innovation. It is important to note that such
forms of innovation signify processes through which business aims to offer ‘customer
service’ to its clientele (Innoz.in, 2018). Creativity and ingenuity involved in this form of
innovation will enable its clients in using the service and understanding its features by
making the overall experience of using their service a resourceful one (Innoz.in, 2018).
4. Channel innovation is a form of effective innovation that is extensive and frequently
applied with other types of innovation. Goonj, a well-renowned social-service
organization proficiently collects the surplus resources from urban households or
communities and offer to the economically deprived sections of rural regions of India
(Fast company staff,2014). With the implementation of channel innovation Goonj will
can proficiently recognize the delivery of their services to their customers and further
connect the consumer with their welfare services (Goonj.org, 2018).
5. Eram Scientific Solutions (ESS) recognized as a Private Limited company is a R&D

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Social venture functioning chiefly in the water and sanitation sector. As the Eram Group
has primarily aimed to ensure society to have a global perspective must focus on channel
innovation to efficiently offer productive outcomes as well as a vision for the future
based on innovation (Eram Scientific, 2018). Eram must use new channel innovation that
is recently populated by people who propose for social welfare and offer advisory as well
as integration services through technological advancements. Channel innovation will
essentially leverage companies promote sustainability and improve health and sanitation
conditions of deprived sections of the society(Fast company staff,2014).
6. Mitra-biotech recognised as an international leader in advancing personalized oncology
treatment as well as supporting efficient cancer drug development aims to maintain a
major research in the laboratory presence in Bengaluru, India. As the organisation
efficiently recreates an artificial environment for cancer patients’ tumour sample and tests
various drugs on a directly, the business needs to apply significant innovative ideas to
form a strong client base and offer advanced services to the people suffering from such
illness. Through application of service innovation Mitra-Biotech will seek new revenue
streams by attaining their customers’ needs in order to get things done (Eram Scientific,
2018). Furthermore by making the job, primary focus of service innovation lies on
facilitating organisations to define the customer value in a way which can guide
development to current services and further efficiently create entirely new services (Fast
company staff,2014).
7. Interview Street, being a technology company fundamentally focuses on competitive
programming and help users to create online test consisting of programming questions
and multiple choice and test answer questions (HackerRank, 2018). As the world is hyper

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connected with networks allowing people to perform things which they could not do by
their own network innovation can serve contributory role to the companies innovation
implementation and can sufficiently share risks in developing new offers.
8. Doblin's 10 types of innovation has spoken about business model innovation which is the
development of new and exceptional concepts of supporting and organisational financial
viability along with the processes for developing those concepts to fruition. MyDentist, a
Starbucks inspired dental chain pictures into to the financially deprived section of the
society such as cab drivers as well as domestic workers bye why offering and economical
range of dental services (My Dentist, 2018). These services however through business
model innovation can consider newly developed resources by efficiently enhancing the
product value and recognise ways through which the services are deliver to their clients
(Fast company staff,2014).
9. Ola cabs- Business of Ola Cabs have successfully emerged as India’s largest car rental
brand and uses myriad tech solutions in order to navigate the disorder of India's urban
commuter system. However it is highly essential for Ola cabs to apply brand innovation
strategies in order to recognise marketing plans a product representation as well as other
offerings to their customer base (Olacabs.com, 2018). Through brand innovation the
company will successfully identify customer insights and recognise their demands and
needs which they can refurbish through this innovation and acquire a competitive
advantage position in the market (Fast company staff,2014).
10. CloudNine, a recognized health-care organization is successfully being sustaining 0%
maternal mortality rate with around 99% survival rate. This kind of welfare services
require significant brand innovation to leverage loyalty factors that consumers constitute

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with the brand itself. Furthermore, Cloudnine Hospitals (2018) through brand innovation
can raise elevated level of intentions of their brand and services to connect more number
of mothers in which direction the brand is advancing with services they have been
offering (Fast company staff,2014).

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References
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