Session-7

Session-7;

3 Nov, 2021

 Companies work in a pluralistic society which means No organization works in a monopoly, hence power is not concentrated. There is government, whistle blowers, social activists who keep a check on the workings of these organisations so that they act ethically and power does not corrupt them. We understood this through the example of facebook and whistle blower. Even OPEC, which supplies 40% of oil, doesn't have a complete autonomy on the supply and production of oil. A discourse between innovation and invention helped me realize how both the terms are way different from each other. Afterwards the discussion took its course towards product, service and process innovation. We understood all this through various examples. Product and service innovation includes incremental and disruptive or breakthrough innovation. A recent example of disruptive innovation was the jio phone launched by reliance a few days back because it wasn't of that high technology but it was only developed to provide phones to the masses. In comparison to this, when concept of airbnb was launched, it was a breakthrough innovation. It revolutionalised the entire hospitality industry, which resulted inti them being the leading company without even owning a single room. Meanwhile the process innovation these days include opening bank accounts online and getting government documents delivered at your home only rather than going to the place and doing everything physically.