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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…

Andhra Pradesh targets Rs. 5,000cr for retail infra sector

Andhra Pradesh Retail Infra
While rolling out a red carpet for the retail sector, the state government in Andhra Pradesh has offered multiple relaxation and investors' friendly norms in its new retail & trade policy, and targeted a staggering investment worth Rs. 5,000cr. In its scheme of things, retail enterprises have been granted greater flexibility in terms of open hours, engaging part-time employees, and removal of stock limits for essential commodities. Attracted by the new norms, four leading retail chains — Walmart, Future Group, Spencer's, and Arvind — have signed MoUs to invest Rs. 1,500cr in AP where they will create the necessary infrastructure and construct retail space across the state. Touted to be the first-of-its-kind policy in the country attempted by any state, the policy also offers various incentives and the ease of doing business applicable to other sectors. The new norms allow flexibility that retail enterprises can stay open seven days a week from 6 am to 11 pm. In view of this, K Raheja Corporation announced that the group had identified four cities to establish new shopping malls. While Walmart India would establish 15 new stores in the state, besides, setting up a centre for sourcing agriculture products from small and marginal farmers, chief executive Krish Iyer said.