Monday, February 21, 2011

The Key to INNOVATIONS

HARVARD BUSINESS REVIEW
Management Tip of the Day
Necessity is the mother of invention. When times or resources are tight, people usually figure out how to make due: they create work-arounds, devise new ways of operating, and make better use of limited assets. If you're looking for a creative solution or an innovative new product, remember that creative problem-solving is the inevitable result of working with constraints. Try deliberately imposing scarcity on a process. Trade in "blue sky" thinking for "closed world" techniques. Limit time, money, options, or other resources. Or, you can capitalize on the external constraints that the economy presents.
I won't agree with HBR's tip completely but yes, at time we all do need limited resources to think something spectacular. Probably for the Pakistani's there is an energy crisis from 2003, no better way has been proposed as yet. I heard that wind farms would be established, but HEY Ministers, we all know you have our tax money to waste on as many projects as you want. Try thinking on Solar and Hybrid, and use some of your coal, rather than thinking on how you can make cash from undervalued reserve valuations, try thinking on how to address the most probable issues, else i guess this $500 billion GDP will be not more then $50 billion in some time. 

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