Innovation is different from invention, an invention is discovery of new methods and new materials, whereas innovation is utilization of inventions to produce new and better quality of products that give greater satisfaction to the consumer and higher profits to the entrepreneur. An inventor gives the idea and an innovator implements the idea for economic gain. Some individuals can be both inventor and innovator. The innovator (entrepreneur) commercially exploits the invention produced by him or by any other person. Similarly, an entrepreneur also exploits creative ideas for commercial gains. The importance of creativity and innovation has risen with the increasing competition amongst corporate. Successful entrepreneurs are realizing that creativity, innovation and even incremental value additions are imperative ingredients to survive the ever-rising competition. The book covers all issues related to the development of economy and entrepreneurship.
ABOUT THE AUTHOR S.K. Sinha
Lt. Gen (Retd.) S.K. Sinha, PVSM, was born in 1926 and graduated from Patna University i 1943. He joined the Army soon thereafter and was commissioned in the JAT Regiment. He saw combat during the Second World War in Burma (Myanmar) and Indonesia. After Independence, he was transferred to 5 Gorkha Rifles (FF). He was associated with the Kashmir War from day one, 27th October 1947, and was intimately connected with it throughout the first Indo-Pak War of 1947-48. He was the Secretary of the Indian delegation to the United Nations Commission for India and Pakistan (UNCIP) in 1949 to delineate the Cease-Fire Line in Kashmir. During his long distinguished career in the Army, General Sinha held all levels of command from a Platoon to a Field Army. He served as Instructor both at the War College in Mhow and at Staff College in Wellington. He held key staff appointments in field formations besides serving in every rank from Capt. to Lt. Gen at Army Headquarters. In 1973, he was decorated with the highest military award for distinguished services, Param Vishisht Seva Medal (PVSM). His last appointment in the Army was Vice Chief of the Army Staff, when he quit the Service in 1983. Appointed as India's Ambassador to Nepal when Indo-Nepal relations had hit their nadir, General Sinha Played a key role in raising Indo-Nepal relations to a high level of cordiality and also in the restoration of democracy in that country. The Prime Minister of Nepal Wrote, "General Sinha was as much India's Ambassador to Nepal as Nepal's Ambassador to India". In 1997, he was appointed Governor of Assam when insurgency was at its peak in that State. He succeeded in isolating the militants and bringing the people of Assam. The people and the Press referred to him as "Our Man in Raj Bhawan", 'a true son of the soil of Assam, totally Assamese in his outlook". He took over as Governor of Jammu and Kashmir in 2003 where he still continues to serve. During the last three years, there has been a marked improvement in the security scenario in that State.
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