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The Five Characteristics of Successful Innovators

There is not much agreement about what makes an idea innovative, and what makes an innovative idea valuable. For example, discussions on whether the internet is a better invention than the wheel are more likely to reveal personal preferences than logical argumentation. Likewise, experts disagree on the type and level of innovation that is most beneficial for organizations. Somestudiessuggest that radical innovation (which does sound sexy) confers sustainable competitive advantages, butothersshow that “mild” innovation – think iPhone 5 rather than the original iPhone – is generally more effective, not least because it reduces market uncertainty. There is also inconclusive evidence on whether we should pay attention to consumers’ views, with somestudiesshowing that a customer focus is detrimental for innovation because it equates to playing catch-up, butothersarguing for it. Even Henry Ford’s famous quote on the subject – “if I had asked people what they wanted, they would have said fast…

New BEL facility to help expand missile system business

The foundation stone will be laid by Defence Minister Manohar Parrikar on Wednesday, the statement said.

The facility will have state-of-the-art infrastructure such as assembly hangars and hard stands for radars and weapon integration, RF radiation sources for target simulation, automatic test equipment, clean rooms for electronic assembly, non-explosive and explosive integration buildings, missile storage buildings, environmental test chambers and others.

It will be the largest such facility in the country, the statement said.

Chairman and managing director S.K. Sharma meanwhile said BEL is also strengthening its infrastructure in areas like night vision technologies and elements of multifunction radars.

"Various new surface-to-air missile (SAM) programmes are proposed to be taken up by BEL, namely quick reaction SAM, long range SAM, medium range SAM, etc. in addition to Network Centric Communication and Electronic Warfare systems," Sharma said.

The statement added that BEL also has plans to expand this facility for the creation of a Military Industrial Complex to set up the necessary ecosystem for manufacture of electronic components and equipment for various upcoming defence projects in collaboration with SMEs as part of the government's 'Make in India' initiative.

"The proposed complex will be a world-class facility with automated guided vehicles and industrial robots for material movement and handling. The facility will be built in stages as the various projects mature and the estimated investment will be about Rs.500 crore over a period of 3 to 4 years," the statement added.