INNOVATION

Crises generate a lot of energy that, if harnessed constructively, can be a great source of innovation. The  COVID-19  response is producing inspiring innovative responses proving that, indeed, necessity is the mother of invention. What has emerged already and during previous crises provide lessons for our near-term response, but also highlight the underlying and more critical long-term need to better resource and institutionalize strategic innovation in global health. Open innovation, for example, is a proven model that can focus this energy and catalyze problem-solving from anywhere and anyone. My former team at the  USAID  Center for Innovation and Impact led both the   Fighting Ebola  and   Combating Zika and Future Threats  grand challenges during those respective outbreaks. In the heart of the Ebola outbreak, for example, CII and international experts reviewed over 1,500 ideas and quickly supported the development of 14. Twelve o...

In this 21st century, the world is rapidly progressing, industrializing and globalizing. This rapid growth in industries is because of the innovation.The relationship between innovation and competition is of great importance to economists and managers. Role of innovation in their firm and the competition between the firm is of great significance.But the big question is-Does more competition results in a higher focus of innovation? The answer varies according to the situation, some cases have led to the identification of positive relationahip, some have led to negative relationship and some have led to inverse U-shaped relationship.Before analysing the impact of competition on invention, let us first try to understand the meaning of invention and competition. Invention- Invention is a multi-stage process that has led to develop new products by advancing the ideas that can lead a life to live with more ease. Competition- Competiton is a process to compete the opponent via a certai...