The linked article emphasizes the importance of continuous innovation within a company, especially in India. Starting a business with innovative ideas will not last forever; the market is always changing, there’s competition, the demand for certain products changes, and more.
The decision by business professionals and the government of India to hold a conference that teaches and stresses the importance of innovation is an intelligent move. As Mr Subodh Kant Sahai, Union Minister of State, Ministry of Food Processing said: “”Our target is to create new entrepreneurs and new jobs.” Innovation creates entrepreneurs and creates jobs. The Indian economy will be better off if innovation is consistently applied by entrepreneurs. A lack of innovation is really limiting for a company and economy. It is crucial that the company is always thinking of ways to improve their products to better address the value propositions of their consumers. For example, if Apple ceased all types of innovation, they would not be where they are right now. Apple changed and improved their products to better address the desires of the consumers and to create a point of difference, so that they were able to surpass their competition. It is only through innovation that companies reach their full potential and flourish.