In today’s extremely competitive business environment, it is essential for any business to critically analyse where it stands in relation to its strategic goals. By failing to do so, they may be gradually deviating from the desired goals over a period of time, ultimately finding themselves in a situation where they are not likely to achieve the desired goals at all. Among such capability gaps of an organization, shortage of skilled resources is a major area for consideration.
Innovation is a much talked about word today especially in the business context. Although it is a vast area by itself to be discussed, stated in simple terms Innovation is the act of introducing something new. This could be a new product, a new service, process etc. which could lead to increased productivity and efficiency of the organization as well as adding value to its portfolio of customers. As much as the concept of innovation is important for an organization, what seem