Innovate to Sustain and Grow

Globalization has brought many markets together and presently, the competition does not just rest within a single country. Products and services from various enterprises located across the world are competing on a single platform. In times of such competition, the success of any particular company is gauged by the speed at which it can innovate goods and bring them to the forefront.

What is innovation?
Innovation defines the ability of any agency to benefit from the breakthroughs of scientific achievements and convert it into practical solutions for marketing. A combination of efficient flow of technology, ready supply of finance and adequate business skills are the three pillars which can boost an SME. 

Teamwork makes it easy for you to innovate

Many SMEs keep on repeating their processes and often fail to innovate and thus eventually lose to competition. SMEs have a huge potential to innovate and are well aware of their market. They are familiar with their manufactured product and user expectations and can utilize the opportunity to innovate. Lack of funds is also another deterrent for many SMEs.

Engage relevant talent
To improve their status, SMEs can even hire an innovation coach who would share his expertise to prepare the innovation process. They can also hire exclusive R & D professionals for new product developments and dedicate an entire wing for the same. They can outsource the research work at a much cheaper rate.  Many low end SMEs may not be able to innovate as per their requirement. They should improve their efficiencies in HR, finance and customer management systems to support themselves.

It has been proved that firms which invest a good amount of their profits in developing innovation or R & D turn out to be at the top of their list in production. SMEs also need to understand the various SOPs offered by the government or policies which can be utilized by them to fund their R & D projects.

Spread good humour
For bringing innovation one has to understand its benefits and also venture into new collaborations to initiate innovation. An SME has to invest in promising innovators who can boost and contribute with greater ideas in the existing set-up. A work culture suitable for innovation has to be cultivated and results are expected to show with the passage of time. It has to be reflected in various segments within the agency including in its management. It is a group phenomenon and never an individual attempt, thus, the team has to be nurtured to express their views and encouraged to be creative.

Innovation also demands a certain dedication in terms of manpower, resources and finances. SME needs to prepare their employees by sending them to workshops, seminars and conferences where they can pick up handy tips. Senior staff are often found to be antagonistic towards innovative ideas and implementations and they also need to be kept in the loop regarding new processes. Ideas have to be worked upon in a collaborative manner and supportive people are required within an agency to support new initiatives. Fostering innovation is hard, but innovative SMEs are cut out for a larger canvas.

Imperatives of skill development

Human resources are significant for the growth and development of SMEs and they should be managed well. It is extremely important to provide good training to employees. Every company has its own standards and so training employees is inevitable.  To save time and money, companies often tend to compromise on training of workers. It’s time to take this routine practice through a test.

Get the Industry In
Institutes are busy training people according to academia. It is time the industry steps in to tell the academia what they really require. Industries are now coming together with private universities to see how they can come together to develop a talented workforce that is employable. This has been a challenge so far and the attempts being made are few and far between.
 

Training on the Job
All leading companies train their workers because it is the single-most effective tool that has no substitute. Recruitment of the workers for white and blue collared ones is especially important and companies need to ensure that they are absorbed aptly into the company. Recruitment should be taken seriously and skilled HR capabilities should be employed to ensure right people are employed. 

Remunerating Well
People should be paid well and in accordance with their ability and skills. This not only ensures that they do a good job, it also means people stay with the company for a longer time. Of course, it is important to ensure that the person being recruited has a nice reputation and a good past record. Standards of recruitment should be high and competitive individuals should be given the right opportunities.    

What’s the Big Difference?
Say a company has sources technologically advanced machinery, but if the workers are not skilled and trained properly then the machinery would lie unproductive. So training of the employees is a must. They should go through training to hone their skills and to improve their performance. 

Human resources are the most powerful investment for any company. The workers should be managed intelligently and work should be assigned as per their capabilities. They should be encouraged to perform well for better productivity for the company and greater success for the person. Dedicated and hard working employees should be rewarded and they should be promoted with time. The training method should be interactive so that the employees can share their problems with the head. 

Unskilled workers are the biggest hurdle for the growth of a company. Therefore, they should be trained to generate more output and to meet their targets in a minimum time. The skilled work force tends to be more efficient and thus contributes in a big way to the advantage of the firm. Good workers add to the reputation of the company. It should be kept in mind that the employees who are given a healthy working environment are your biggest assets. 

Intelligent management of human resources is the key to success. A team of experienced and new workers should be engaged so that the freshers can learn. The leader should have a positive attitude to inspire workers to perform better and to the best of their ability. Adequate channelizing of resources makes it possible to reduce wastage and to raise turnover. So, skill development is crucial for the success of SMEs and a must-do for a productive tomorrow.

Expert Speak: Mr. Nandan Sharma, TATA Communications

MPLS - The Gen-Next Intelligent Networking Solution for SMEs

Small and medium enterprises (SME)s today leverage the power of technology to ‘go global’ and stay connected with associates and clients ‘24x7’. In this age of globalization and localization or as we say “glocalization”, small enterprises need to conduct bulk of their business over the internet and in a secured manner.

There are multiple options, but the best suited is the Multi-Protocol Label Switching (MPLS), the networking system that is reliable and secure for national and global connectivity. What makes MPLS the most sought after technology to deliver voice and data services for small enterprises? It is mature, sophisticated and delivers voice and data services faster. MPLS provides faster packet forwarding for IP routers and supports Virtual Private Network (VPN) services with traffic engineering and network convergence.

In addition, by virtue of its performance and versatility, MPLS offers lower network total cost of ownership (TCO) than any other solution.

Now, as a SME business, would you not want a fully managed solution that helps you streamline your business operations more efficient? MPLS not only provides you with cutting edge technology with ample capacity for future expansion but also offers cost-effective scalability across multiple locations. After all, you do not want to spend a fortune on your network infrastructure.

But it is not just costs, in this age of cut-throat competition among businesses in all domains, SMEs always need to improvise and enhance product or service in order to carve a niche in the market.  We understand that you need to concentrate on your core competencies instead of struggling with high-end technologies and networking system. 

MPLS networking service provides you with a fully managed solution for all network and connectivity requirements along with supporting business critical applications. MPLS service thus is the key for you to get an edge over your competitors.

The contributor for this blog is Mr. Nandan Sharma, Product Head, Network Services, Tata Communications-SME (http://www.tatacommunications.com/sme/mpls.asp)

Direct to Home: Pune Farmers' Innovation leads to fresh vegetables to consumers

Agriculture is the largest economic sector in India and plays a significant role in the overall socio-economic development. About, 65% of Indian population depends directly on agriculture, and it accounts for around 22% of GDP. India is the largest producer of fruits and second largest producer of vegetables in the world. 

The government supports agriculture by deciding minimum support prices for the major agricultural crops, subsidies and credit schemes. However, there is a lack of required level of investment for the development of marketing, storage and cold storage infrastructure. According to National Bank for Agriculture and Rural Development (NABARD) post harvest losses accounts about 25% to 30% of production in India.

The solution to this problem is advocated through innovation, which is going to change the game for small and emerging businesses related to agriculture. Kudos to Pune Farmers, who not only cut the middleman from the business, but also find a solution to sell their product directly to consumers. This story was recently highlighted by The Economic Times (ET).

A new trend for small and emerging businesses related to agriculture

According to the ET story, Pune is witnessing a new trend where farmers are offering consumers directly with fresh vegetables right at their door step. The idea is to create a self-help group and adopt new technology for payment system, and then approach the end-users directly with their offerings. 

The trend in the case of Pune has recorded three tonnes of fresh vegetables being delivered at the door steps of more than 200 families which has encouraged the spirits of these farmers. The orders get placed online and they are processed in the village itself. To relish the farm fresh vegetables, the customer needs to pay a sum of Rs. 2, 000/- online to their site. The minimum size of the order has been fixed at Rs 150 per delivery. This innovate idea has caught instant attention of working couples and elderly people. The trend has emerged as a real delight for those who are willing to pay a premium for farm fresh vegetables.

Online delivery of fruits and vegetables is not a new trend in India but what makes the Pune experiment different is being driven by farmers themselves. It is an ideal condition for those who are willing to start a small-sized business related to farming. Earlier, a hefty amount was retained by middle-man and there was no direct contact between producer and consumers. However, with the advent of e-Commerce now it is easy to sell their product online. Further farmers have made a deal with large housing societies to sell inside their premises once a week. It would enable them to offer discounts as well.

Small sized ventures have a huge potential in organic farming

A budding interest in organic food is an answer to a potential business venture. There is a growing concern towards healthy living, and consumers are very apt to pay for foods involving natural farming. Organic products usually get a premium of 10% to 20%. Organic farming also cut cultivation and input costs by up to 70% due to the use of cheaper, natural products like manure instead of chemicals and fertilizers.

How SMEs can harvest profit out of it

As per the existing laws in India, markets for agricultural product can be set up at the initiative of State Governments alone and there is still no provision for individual farmers. Recently, it has been recommended that ‘Special Markets’ or ‘Special Commodities Markets’ in any market area for specified agricultural commodities can be operated in addition to existing markets. Growers are permitted to apply for the establishment of new markets for agricultural produce in any area. Therefore, in a market area, more than one market can be established by private persons, farmers and consumers. There will be no compulsion on the growers to sell their produce to existing markets only.

Therefore, a small-sized venture is in a unique position to tap this growing market by adopting new technology and approaching directly to the end-user with their potentially better offering.

Israeli Startup Changes the Way Customers Order Food in Restaurants

Innovation is the name of the game and who better than start-ups to lead the charge. Small and Emerging businesses are the one's which innovate across to create new offerings to solve many customer oriented challenges. The one advantage that SMEs have over many of their larger counterparts is that they have the open-ness and ability to think across many different directions to reach to a solution of a problem. Such innovations have in the recent times changed the way people engage and are slowly introducing an evolved form of interactivity in human emotion.

E-Menu the future of restaurant technology
One such Israeli startup has developed a technology which not only helps restaurants save cost on human resources, but also helps them keep the customers engaged with engaging games and participative ways of ordering food. The video below explains how:

How is this technology changing the game?

The very first thing by eliminating the whole concept of having waiters to serve at the restaurant. The touch screen technology also creates a whole new engagement level which the customer can interact with, while ordering food. You can present the customer with more elaborate information about the food they are ordering, hence empowering them to take an informed decision about what they are consuming. Also these screen can be used as engaged advertising mediums.

What is the simplest way you can experience this?

While many customers are using touch screen interactive devices like the iPhone and the iPAD, they are obviously touching information and consuming it in a manner which was not possible before. You can simply create such information and do a proof of concept with your target customers. Mobility is giving a new edge to businesses to help them reach out to their customers in a more personalized and engaging manner.

Team IndiaMART Knowledge Services is committed to create new opportunities or SMEs to grow. To know more about how you can leverage the internet and new media technologies, drop in a comment to this post and our team of experts will be happy to help!