MANAGING in the

NEW WORLD

Ten great ideas have been identified which mysteriously were initially rejected. The first of those is the telephone which was rejected on the lines of apparently having too many shortcomings. Then there are motor cars which it was predicted would not cause much disruption to the use of horses for transport. Others include the radio, the medicine aspirin, photocopying machines and even computers. Some even rejected the use of sound in movies or the concept of overnight courier services. The ones completing the list are the Nautilus Fitness Machine and remarkably the PC. The lesson learnt from such rejections is that entrepreneurs and innovators must keep plugging on till their idea gets accepted. For investors, they must keep all their options open. Before rejecting any innovation on the basis of personal gut feelings, they must assess it from five perspectives. They must think whether the customer will buy it and whether the technology can be delivered. They must evaluate whether such a business model will pay off for itself. Also they must evaluate the risk of failure or the implications of actual success. Finally they must assess the product against the corporate strategy of the firm, and whether it fits in with the overall scheme.

Source:http://innovationexcellence.com/blog/2016/12/19/10-great-ideas-that-were-originally-rejected/

 

SKYLINE Knowledge Centre

Phone: 9971700059,9810877385
E-mail: info@skylinecollege.com
© 2017 SKYLINE. All right Reserved.