Anand Mahindra is one of the famed entrepreneur of the country who is often seen sharing his learnings on business and finance via Twitter. In his recent post on the microblogging site, the Chairman of Mahindra Group shared his views on innovation.
According to him, innovation does not mean creating a new product. He says that innovation is also about generating new use cases for an old product.
“Innovation is not just creating new products. It’s also about creating entirely new use-cases for an existing product category! Brilliant,” Mahindra writes in the Twitter post.
The tweet also had a photo of a standee outside a liquor store in Copenhagen that reads: HUSBAND DAY CARE CENTRE…NEED TIME TO YOURSELF? NEED TIME TO RELAX? WANT TO GO SHOPPING? LEAVE YOUR HUSBAND WITH US! WE LOOK AFTER HIM FOR YOU! YOU ONLY PAY FOR HIS DRINKS!
At the time of writing, Mahindra’s post has garnered over 600 retweets and over 6,500 likes. Many also responded to his tweet, where one user said “Crazily innovative, Just guessing who all will leave their husbands out here.. Also it’s important to know the nature of shop from inside, Innovative though.”
“Companies that can create new use cases for existing products can gain a competitive edge & growth opportunities. Companies can stay ahead of the curve & continue to provide value to their customers by embracing innovation & constantly exploring new ways to use their products,” said another Twitter user.
“Innovation in service industry & other industries with creative approach is the key to enhance business profitability & its continuous process.. those accepts it florish other struggle & vanish,” replied another user to Mahindra’s post.
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