CONFERENCE THEME

Innovative Ideas in National Skill Development vis-à-vis International Scenario

Innovative ideas in bridging skill gap and providing trained manpower to various diversified service sectors of the country are the need of the hour. These may be achieved through various national skill development programs and job oriented structured courses that strive towards building a formidable work force of international quality and standard in IT, ITES, Telecom, Finance, Banking, Retail, Manufacturing, Insurance, Infrastructure industries and the like that use technical and managerial approaches.

Innovation is the creation of better or more effective products, processes, services, technologies, or ideas that are accepted by markets, governments, and society. Innovation differs from invention in that innovation refers to the use of a new idea or method, whereas invention refers more directly to the creation of the idea or method itself.

Innovation matters. It is a key characteristic associated with the success of any society. Innovation is exploring new ideas based on existing technologies. The continuous improvement and advancement of the previously known technologies can result in developing new products, processes and systems which improves the quality of life for the society as the whole.

Managing innovation consists of:

• Identifying the opportunity for innovation
• Setting the objectives and benefits
• Background research and generating creative idea(s)
• Feasibility and risk factors analysis
• Design, development, prototypes and testing
• Policies and strategies of new procedures and managements
• Market research and analysis
• Implementation

For organizations that are competing globally, innovation is the key for survival. Technological innovation requires a change in processes and how companies do business. As an example, manufacturing industry has been changing radically in order to reduce costs and waste, increase variety and improve productivity. Technological innovation is a must to maintain global competitiveness.

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