6 Thumb Rules of Business Innovation
By siliconindia   |   Thursday, 09 February 2012, 00:50 IST   |    4 Comments
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Improvement
Improvement All innovations have a scope for improvement. Very soon an organization comes across a fact that an innovation that seemed impossible at one stage looks outdated now. A continuous improvement is what required for a product or service. For instance in India cataract was a synonym to blindness only till Aravind eye care hospital came into light. The cataract operation cost around $2500-3000 in the U.S. and around $300 in India. So Aravind eye care came up with a program which treated patient for an average of $25 and the treatment was free for 60 percent of the patients. Aravind surgeons have half the number of complications that the British health system has for the same process. That high quality permits Aravind to attract patients who are eager to pay market rates and it takes the large profit made on those surgeries to fund free and subsidized surgeries for poor people.

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