Innovation - but at what cost?
Innovation is the exploitation of creative potential to generate ideas that can be commercialized through entrepreneurial spirit and verve. In the last few years, technology has had a supreme influence on innovation management. But have you ever wondered about the other side of this development? In most cases, it appears as though entrepreneurial innovations have been spurred more by the lure of green bucks and generation of business profits at any cost – ethical norms and governance principles be damned. Ironically, most start-ups claim to have attracted investments from abroad despite the fact that their losses have consistently subsumed their operational efficiencies. It is akin to a situation where the municipality makes great efforts to clean the roads only to have people dump their garbage again and again. A vicious cycle indeed! Thus the start-ups will make losses but continue to attract investments which will make them more complacent so that they can afford to make more ...