Innovation Products -Combining Social and Business Challenge

Innovation is defined as the process by which an idea or
invention is translated into goods or services for the benefit of the
consumers and replicable at an economical cost. In the business
scenario, innovation is the result of application of technical ideas to
decrease the gaps between expectation of the customers and the
performance of the enterprise. In a social level, this relates to
devising collaborative methods, alliances, joint ventures leading to
increase in the buyer’s purchasing power.

Innovation products is a combination of information,
imagination and intuitive thinking along with a number of processes
making it different from the resource. Innovative products can either be
a new product or an improvement made on an existing one, by using new
components or materials . Nevertheless, it is based on ideas that are
captured from various sources.

Further, today’s aggressively
competitive market, challenges for every enterprise to gain maximum
market value. To meet this challenge, enterprises take up initiatives
such as branding, advertisement, social media marketing to promoting
‘out of box’ thinking, strategies for innovative product development and
idea management techniques. Such initiatives may lead to development of
products that can handle environmental issues, energy conservation or
even bring about simple changes to make a product or service more
comfortable and competitive.

To generate profitable growth of
the enterprise and improve the consumer structure, Billerud- the Swedish
packaging designer came up with an innovation product ‘Fiberform’ a
by-product of petroleum that helped in reducing the consumption of
plastics. ‘Fiberform’- a biodegradable and recyclable packaging material
took plastic out of all products; from food to cosmetics. Made of
renewable, fossil-free raw material, this innovative product confirmed a
reduction in carbon emissions in production by 39%, paving way for
increased market share for ‘Fibreform’ as a climate smart packaging
solutions. This initiative contributed to the company’s profitability,
while at the same time benefiting the global climate.


With 72 manufacturing and technology research centers and 73,000
employees, Whirlpool Corporation promoted the concept of designing
innovation products and redesigning business processes by building an
idea management system to capture ideas from its employees. This not
only changed the culture of the company but also brought out products
such as the revolutionary ‘Smartcook’ pizza oven, that can cook a pizza
in less than one and half minutes, the Duet� Steam laundry pair that
helps to save enough water in a normal wash cycle to fill a 16′ x 20′ x
6′ swimming pool over the course of a year or the Fabric Freshener which
uses only nine ounces of water and 10 cents of electricity per cycle
and removes odors from clothing while relaxing wrinkles without using
chemicals or detergents.

All these innovation products helped
the company attract large number of consumers and generated more than
$2.5 billion of worldwide revenue. This also gave Whirlpool a
competitive advantage and the generation of a robust innovation pipeline
of about $20 billion. Innovative products are the result of bringing
together a diverse group with a common goal and applied processes with
the right combination of tools and techniques.

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Blackberry Bold 9780- A smart innovation by the most powerful series

Blackberry mobile phones are the perfect examples of the innovative technology and smart business features. The bold series of the Blackberry is revolutionizing the gadget market and users want to have the phones from this series. One of the latest blackberry phones by the brand is Bold 9780 that is achieving an unexpected popularity in UK market. There are numerous mobile phone deals available in market offered by the prominent networks like Vodafone, O2, Orange and three. This is a candy bar device that is very soothing to your eyes as well.

The smart offering Blackberry Bold 9780 comes packed with the large 2.44 inches TFT screen that is capable enough to support 65k colors. The gadget is equipped with the full QWERTY keypad to give you a great experience of sending emails and texts. It has an internal memory storage of 256MB that is expandable up to 32GB. The device will offer you great connectivity through several wireless applications like GPRS, EDGE, WiFi, 3G and much more. It runs with the latest Blackberry OS 6.0 that is compatible with the fast processor to enhance the efficiency of this device.

Users can get this latest offering by Blackberry through the great Blackberry Bold 9780 deals at affordable rates. These deals are quite beneficial and meeting the expectations of users. These days users are following the contract deals where one have to sign a bond period with the network provider by paying the fixed monthly amount for a period. Orange is offering the cheapest contract deal at a monthly cost of 17.56 for 24months. In this deal users are offered with the great offers and free gifts.

Get more news about Blackberry bold 9780 and Latest blackberry phones

Strategic Management of Business Strategies is The Reason Behind a Successful Innovation

Practically
most of the innovations that we enjoy in our life have been made a
success because of these managers who manage the innovations otherwise
most of them would have been nipped in the bud due to lack of proper
guidance and follow up. First questions that we should ask ourselves is
what is a strategy? Though it is a simple word in general but when
related to business it is the guiding star for the development and
success of a business over a long term resulting in growth of that
organization. It is a planning that takes the company to an advantageous
position by utilizing the proper resources in the form of human or
materials. Simply this is business strategy and the success of an
organization betting on an innovation for the future depends on how well
the strategy is maintained by the strategist or simply the top notch
people in that organization.

A
very good example can be seen in the case of IBM who have in fact got
master strategists guiding the company. It is a grand success because
they have utilized their man power to the fullest and understood the
requirement of the world before anybody else thought about it. The
management organized seminars and invited various business personnel to
understand their requirements. Then they simply sorted out which is the
mot required thing that can be easily introduced in the market for
financial gains of the company. Here lies the brilliance of the
strategists of the company. Sorting out the innovative ideas and to pick
the right one is something which has brought this company in the
limelight and leapfrogged them ahead of its competitors in terms of
financial gains by a long way.

The man who has given the world
the most innovative ideas is Mr.Steve Jobs. Everybody remembers him
because of his innovations which are really grand. But truly nobody
remembers the man behind the curtain who planned and helped him execute
his innovative ideas into a reality. We would all have been deprived of
these brilliant innovations if the strategy taken was a poor one and
then these innovations would have tumbled head over heals. The company
gained a lot and the innovator got the praise he rightly deserved but
the planner never came in front.

So
the fundamental logic that we can derive is that behind all innovations
success lies the hand of a good business strategies. The strategic
management of these strategies convert to financial gains for the
company subsequently leading to more successes and thus strengthening
the backbone of the company.

BAI – Finacle Global Banking Innovation Awards Announces 2012 Winners

Global Banks Honored for Vision and Leadership in Innovation


WASHINGTON, DC–(Marketwire – October 9, 2012) – BAI and Infosys today
bestowed the most innovative banks in the world with the prestigious
2012 BAI – Finacle Global Banking Innovation Awards. Now in its second
year, the global awards program recognizes and supports innovation in
the retail banking industry. This year’s honorees were recognized at a
special ceremony today at BAI Retail Delivery 2012 in Washington, D.C.


The winning financial institutions were chosen among more than 150
entries from over 30 countries for breakthrough innovations that
positively impact banks and their customers. The award winners were
selected by the Innovation Circle Judging Panel, an objective,
third-party board. This distinguished international group is composed of
prominent industry thought-leaders, academics and retail banking
professionals.

OCBC Bank, located in Singapore, earned the
Product and Service Innovation Award for FRANK, a radical approach to
addressing Generation Y’s different style of connecting and engaging
with financial institutions. FRANK branches — or “stores” — are
designed to specifically serve this group of young people aged 18 – 28,
through being conveniently and strategically located in campuses and
malls, the use of understandable language on signage and documentation,
and through a casual atmosphere where popular music is played, and where
interactive touch screens allow customers to shop and apply for their
personalized FRANK debit or credit card. Overall, FRANK allows OCBC Bank
to develop lifetime, personalized relationships with these consumers by
meeting their needs early on.

The award for Channel Innovation
was won by DenizBank, located in Turkey, for introducing the ‘Globally
First Ever’ Banking Platform on Facebook. With full online banking
functionality, the platform enables Facebook users to check their bank
account, see a total picture of assets and liabilities, send money to
anyone, anytime, purchase/enroll in consumer loans and credit cards, and
invite Facebook friends to use the platform, among other capabilities.


Alior Bank, located in Poland, received the Disruptive Innovation in
Banking Award for changing the banking services market in its country.
Alior Sync is a progressive, virtual bank that offers full-service
banking via a virtual platform with a contemporary means of
communication for its target segment, customers between the ages of 20
to 35. The innovative model of operations eases the facilitation of
processes involved in offerings and sales of products and services, such
as a fully online credit process — a first in Poland.

The Most
Innovative Bank of the Year Award was awarded to First National Bank, a
Division of FirstRand Limited, located in South Africa, to honor its
culture of innovation and advancement of retail banking. As part of
their innovative culture, the bank holds an internal competition, called
“Innovators,” that formally encourages and supports the process of
innovation and related competencies. Business units within FNB are
empowered to innovate through leadership buy-in and advocacy.


Debbie Bianucci, President and CEO of BAI, congratulated the award
winners for their creativity and excellence. “These banks serve as a
model of what can be achieved through innovation when it comes to
enhancing the customer experience and transforming our industry. Their
commitment and leadership set new standards for us, and we honor them
for their achievement. We look forward to seeing what future innovations
will come from the finalists and winners here today as well as other
banks around the world.”

Haragopal Mangipudi, Global Head –
Finacle, Infosys, commended the award winners for their ability to drive
consumer engagement through innovation. “Their original thinking is the
key to accelerating growth and increasing customer loyalty. As the
innovation partner for global financial institutions, we applaud their
outstanding efforts.”

To learn more about the 2012 BAI – Finacle
Global Banking Innovation Awards and to submit nominations for the 2013
awards, please visit http://www.baiglobalinnovations.com.

About BAI:


BAI is the financial services industry’s partner for breakthrough
information and intelligence needed to innovate and stay relevant in an
evolving marketplace. For more than 85 years, BAI has focused on
advancing the industry by offering unbiased education and research.
BAI’s offerings are as diverse as the industry, and include premier
events such as BAI Retail Delivery Conference & Expo, groundbreaking
research and performance metrics, professional learning and development
programs, and in-depth editorial coverage through BAI Banking
Strategies. For more information, visit http://www.bai.org

About Infosys:


Infosys partners with global enterprises to drive their innovation-led
growth. That’s why Forbes ranked Infosys 15 among the top 100 most
innovative companies. As a leading provider of next-generation
consulting, technology and outsourcing solutions, Infosys helps clients
in more than 30 countries realize their goals. Visit http://www.infosys.com and see how Infosys (NASDAQ: INFY), with its 150,000+ people, is Building Tomorrow’s Enterprise� today.

Safe Harbor:


Certain statements in this release concerning our future growth
prospects are forward-looking statements, which involve a number of
risks and uncertainties that could cause actual results to differ
materially from those in such forward-looking statements. The risks and
uncertainties relating to these statements include, but are not limited
to, risks and uncertainties regarding fluctuations in earnings,
fluctuations in foreign exchange rates, our ability to manage growth,
intense competition in IT services including those factors which may
affect our cost advantage, wage increases in India, our ability to
attract and retain highly skilled professionals, time and cost overruns
on fixed-price, fixed-time frame contracts, client concentration,
restrictions on immigration, industry segment concentration, our ability
to manage our international operations, reduced demand for technology
in our key focus areas, disruptions in telecommunication networks or
system failures, our ability to successfully complete and integrate
potential acquisitions, liability for damages on our service contracts,
the success of the companies in which Infosys has made strategic
investments, withdrawal or expiration of governmental fiscal incentives,
political instability and regional conflicts, legal restrictions on
raising capital or acquiring companies outside India, and unauthorized
use of our intellectual property and general economic conditions
affecting our industry. Additional risks that could affect our future
operating results are more fully described in our United States
Securities and Exchange Commission filings including our Annual Report
on Form 20-F for the fiscal year ended March 31, 2012 and on Form 6-K
for the quarters ended September 30, 2011, December 31, 2011 and June
30, 2012.These filings are available at http://www.sec.gov.
Infosys may, from time to time, make additional written and oral
forward-looking statements, including statements contained in the
company’s filings with the Securities and Exchange Commission and our
reports to shareholders. The company does not undertake to update any
forward-looking statements that may be made from time to time by or on
behalf of the company.

For further information please contact:

Jeannette Weiland

BAI

Chicago, USA

Phone: +1 312 683-2319

jweiland@bai.org

The Americas

Jay Barta

Infosys Ltd.

United States

Phone: +1 510 926-7840

Jay_Barta@infosys.com

Asia Pacific

Joya Ahluwalia

Infosys Ltd.

India

Phone: +91 80 41565002

Joya_Ahluwalia@infosys.com

Innovation -The Key to Indias Growth

Has “innovation” become yet another buzzword today, a passing fad… or is it truly the engine of growth?

While
one study published by Businessweek in association with Boston
Consulting Group reveals that 25% of new products launched by
established companies generate enthusiasm amongst users owing to
appropriate utilization of business innovation techniques, another
recent survey revealed that there was contention around the word
“innovation” itself, with 60% of respondents choosing to add their own
definitions. A majority looked at ideas from other domains instead of
brainstorming, prototyping, experimentation or collaboration (as a
technique for finding ideas). Further, most people ranked DaVinci as the
greatest innovator, followed by Edison and Steve Jobs (most didn’t know
who Tesla was)! On a side-note, how many of us can even name five
contemporary Indian scientists?

It is not surprising therefore, to
see many MNCs recently setting up Innovation Centres and Hubs in India,
but not even a single new product idea has come out from them as yet.
Many firms come out with an improvement over an existing product line
and tout that as an “innovation”. Clearly, most seem to be just paying
lip-service or trying to ride this latest bandwagon without the
slightest clue how to really go about the business of innovation.

One
can take a cue from leading global giants such as 3M, Xerox Parc, and
Ideo who are well known for giving us scotch-tape, photocopiers, and
stupendous designs. But not many know that Xerox Parc, for example, have
also come up with innovations such as laser printing, Ethernet, the
modern personal computer, graphical user interface (GUI),
object-oriented programming, ubiquitous computing, amorphous silicon
(a-Si) applications, and advancing very-large-scale-integration (VLSI)
for semiconductors, to name a few.

Some of these innovations had
the power to change the world. How many such examples can we cite coming
out from India or from an Indian company? As a nation, we already have
some of the most talented scientists, academicians, researchers and
engineers along with enough investors, VCs, funding, grants and seed
capital to make it all happen. Yet how many ‘Google’s or ‘Facebook’s
have we launched in the global markets? As the survey mentioned above
revealed, we are happy to “look at ideas from others instead of
brainstorming ourselves” – quite a sorry state of affairs for a country
poised to become the economic powerhouse of this century.

We need
to only look at the history of innovations and new product or technology
launches in US and Europe and correlate that data with the economic
progress of these markets to believe and understand that innovation
really does have the power to bring about a radical change and how it
does so.

However,
all is not lost, as there are a few companies in India such as UNIKEN
(technology innovation solution providers) and Hexolabs (of Mobile
Antakshari fame) who are working in niche areas but growing rapidly and
impacting global markets in an unprecedented way.

Uniken’s
Innovation Centre (located in Pune), is ready with a line of 20-30
innovations of which only two product applications have been launched so
far, and have already become runaway successes! VPSI (Virtual Private
Secure Internet) and TruBank secure internet banking solution are based
on the REL-ID mutual authentication and encryption protocol. This
technology has the potential to be a game-changer in the global BFSI
industry, with most of the leading banks in India having chosen to
deploy the same to protect their customers from cyber fraud and phishing
attacks.

Other innovations by Uniken cut across industry
verticals and have multiple applications – such as Hand Geometry
Biometric Verification System, a micro-AC, solar-powered farming and so
on. And most people would not even have heard about this company that
claims to be the only company in India which is in the “business of
innovation” and has some of the leading experts like Dr. Whitfield
Diffie and Dr. Pat Shankar on its Scientific Advisory Board.

As a
country we have to make a concerted effort to stop being experts at
imitation and start becoming masters of innovation, if we have to
leap-frog an entire generation of technological advances. And our
innovations should focus on developing technology and tools that can
improve the quality of life, make things simpler, better and easier –
and only then would we have created something that has the power to
bring about change.�