Preliminary observations on socio-economic development – A comparative study of economies

Last month, I was invited to conduct a two-day session on New Product Development by the Institute of Innovation and Entrepreneurship for start-ups in Singapore. I was amazed at the socioeconomic progress made by Singapore since her independence in 1959. A few years back, I read the book, My Life, of Cuban Leader, Mr.Fidel Castro. ...

What is the difference between Creativity, Innovation and Invention? Can creativity be taught?

There are a plethora of definitions for the words Creativity and Innovation. I’ve listened to people using these words, which imply a limited meaning that possibly inhibits a comprehensive understanding of the whole meaning of these words. Even the legendary CEO of GE, Jack Welsh, uses the word Innovation to imply continuous improvement! More on ...

Estimating market size for an innovation with data from Primary and Secondary Research

How do we estimate market size for an innovation? Here’s how we did it for one of our innovations – first, using data from secondary research and later, primary research (Survey). The innovation is an IT solution that addresses the IT needs of SMEs (Small and Medium Enterprises) who use Microsoft Excel to capture their ...