Figure7factorsfavouringinnovationinindia however in

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Unformatted text preview: Figure 3 in Appendix, National Knowledge Commission (2007), Innovation in India 14 16 | P a g e CONCLUSION Owing to “inherent factors” favouring innovation, India enjoys the competitive advantage to position itself as a low cost and reliable source of goods and services. Figure 7: Factors Favouring Innovation in India However, in order to avoid commoditization, the focus must be on building a capacity not just for generating ideas for breakthrough innovation, but also the successful execution of these ideas to bring about a radical change. This is a long and arduous task, but can be accomplished through the synergetic efforts of all stakeholders. 17 | P a g e APPENDICES 1. External Barriers to Innovation – Large Firms 2. External Barriers to Innovation – SMEs 18 | P a g e 3. Internal Barriers to Innovation – Large Firms 4. Internal Barriers to Innovation – SMEs 19 | P a g e 5. Growth of Venture Capital in India 6. Percentage of Manufacturing Firms offering Training 20 | P a g e REFERENCES Books: • Michel Syrett & Jean Lammiman (2002), Successful Innovation: How to Encourage and Shape Profitable Ideas. • Clayton M. Christensen (1997), The Innovator’s Dilemma: When New Technologies Cause Great Firms to Fail • Frans Johannson (2006), The Medici Effect • Tom Kelly & Jonathan Littman (2005), The Ten Faces of Innovation • Porus Munshi (2009), Making Breakthrough Innovation Happen: How 11 Indians Pulled Off the Impossible • Tom Kelly (2001), The...
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