Discoveries and inventions are mainly carried out for the satisfaction of human needs which includes human inquisitiveness. During the early periods of history scientific inventions broke free from the shackles of religious reasoning and ritualism and opened up vistas of knowledge and information that brought about a great deal of change in the human mechanism of thinking and perception of the universe around us. This early stages of scientific discoveries, undoubtedly, had to pass through the rigid and at many times harsh rules and several inventors were prosecuted by their rulers, family and the people alike. Perhaps this was also true for the entrepreneurs of those days as there were no records for this particular class being persecuted. However, soon enough with a larger number of civilization adopting the industrial and technological revolutions the feeling by and large have changed and the entrepreneurial class have become a much envied body of men and women who are as ingenious as the inventors themselves. This is more so due to the greater interaction between the inventions and innovations and the commercial relationships that are established between the two. In fact, the modern days have seen a concurrent level of inventions and innovations and their applications in business.
It therefore goes without saying that the level of consumer satisfaction in the society mainly arose out of the different innovative zeal and unique inventions among different groups of individuals and entrepreneurs such that the whole world would benefit immensely out of it through greater standard of living and employment opportunities. This was clearly seen throughout the industrial revolutions and subsequently the post world war technological revolutions and perhaps the present nano technology revolution and space revolution.
Change in Thinking Mechanism
However, there is a dearth of such highly focused entrepreneurial thinking and this is in spite of the expansion of mobile telephony market, the ubiquitous internet, the notebook, the PCs and surely not in least the development seen in the gigantic Information Technology area, hybrid vehicle manufacture and others. This is markedly seen in areas where the same type of products with some embellishments are added into the market for the consumers to choose from.
Again, this may be good for the consumers who have now wider choice and better options, yet the problem is that these type of market sooner or later would remain almost in a state of stagnation if and when the world economy slows down as we see in the present time. The shock that a recession brings into such markets are really dangerous for freedom of entrepreneurship and this affects the morale of those who would love to take a plunge in the game of risk taking. Just as entrepreneurs drive consumer demand during boom time as well the tastes and preferences too, the New Era entrepreneur must chart out even newer and newer markets for products that are startlingly new for the whole market. This obviously would means to think out of the box as then only can the market expand and the vagaries of economic cycle can be minimized. In other words, the same types of products or almost the same ones compete in a very narrow area of consumer market and never give themselves a chance to create a wider area for the market. For this to fructify the modern entrepreneur talents must explore the possibility of newer implementation of inventions, innovations and technologies towards creating an area for consumers to look and thereby creating the necessary niche area and an edge over their competitors.
Need for a Paradigm Shift in Entrepreneurial Thinking
The shift in thinking need not be something like discarding what all we already have in the market, but to focus on that art of thinking which would enable the new entrepreneurs to introduce a product choice in the market that is so far not seen or experienced by the consumers and which increases their level of satisfaction as well as helps several notches higher in cost savings and quality. This of course has to come with the environmental standards that have been adopted by the world.
The shift in thinking could be made simpler by asking the odd questions just as teams in an organization do during the brain storming session. At times even questions ought to be raised in ones mind so as to challenge the very process that has created a product or service so as to bring out different available options for improving the product or service or create yet another totally different product or service altogether. Given the vast range of products and services available in the market such compulsive thinking wouldn't be a difficult thing as there are always products or services to stand testimony for a deviation in thinking. Even the range of inventors and their lives and the way an invention and innovation has been imagined by hunches or wild ideas can be used to enliven the positive contribution of wild negative thoughts towards establishing the authenticity of a business plan at its early stages. The new entreprenuers ought to take this up in earnest.
Process Changing Through Innovative Ideas
It is not just the compounds and elements or the level of input that should determine the requirement of manufacture, but the very changes in the process of manufacturing certain goods can bring about a dynamic change in the system of the product. This can be done only by changing the pattern of thought process. Sometimes an array of questions both negative and positive can bring about a change or revelation into the working of a product unlike simple objective of making it better. A few examples below would throw light into the realm of differentiated thinking mechanism which a modern entrepreneur can adapt.
1) In the manufacture of vehicles it is generally seen that combustion is the main process that is ignited by the compound called fuel in all motors except perhaps for electric driven engine. The new entrepreneur who is also adjudged as an inventor should ask questions like whether it is possible for combustion to take place in an entirely different process by several other elements or compounds. Of course, such thinking must be occurring in the already dynamic and hot competitive market condition, yet we can reason here that this have not yet brought about that ground breaking inventions or models for the petrol, gas or diesel driven vehicles.
2) Now we all watch TV and know that it can be comfortably viewed at home. Now, to get an idea for something even more brilliant than the TV think slightly differently. For instance, think can there be another device like a glass capsule in your living room that can through the help of super lens, reflectors and LED lights and via known mediums bring into view the living room of your friend and their family members who are residing at some far off place either in the Northern or Southern or at the other end of the equator. Of course, the true new generation entrepreneur would have to think of the idea and then get it done in a focused manner with the help of the other team members consisting of scientists, engineers and others. Just think how great it would be if you can even hold a conversation through this capsule medium with your friend's family.
3) The next exotic idea is to think of the fuel cost going up and air travel becoming more expensive. In such situation why not think of doing short hops with limited people by using a combination of thermal glider technology fused with the aircraft model for a cheaper travel.
4) There are numerous toys that are available in their myriad and exotic varieties. Think how many genuinely beautiful toy shapes can fire your imagination as an entrepreneur looking for something different altogether and search and build one model of anything which the adult world can enjoy and make use of. The toys are not born out of the imagination of one artist or engineer, but a number of them.
5) Modular buildings are now becoming a much sought after cost effective and energy saving structures in some parts of the world if not everywhere. Why can't a small house be designed on the modular structure materials with a self heating and self electrified device like solar power or any other power without the need for electric wiring.
6) Why can't human beings produce rare earths in laboratory conditions? In fact, they ought to ask why rare earths occur in the first place and only few countries have a monopoly on these. First, it is rare enough on this planet and second, our mind is still limited in our thinking entrepreneurial way. Surely, this technological gap can be overcome by due diligence shown in research whereby decoding the chemical code of these rare earths elements so that they could be manufactured at will in lab conditions. A fact should be borne in mind that rare earths are used only in minute quantities in specialized areas and needn't be manufactured artificially in large quantities. Credible Indian rare earths and research could throw light in this new way of thinking which could subsequently bring about unique substitutes for use.
7) There are millions of ideas or formats in semi-lab tested conditions and if an entrepreneur can unravel a market plan for making some of these into durable economic product then the chances of making it big one day is a certainty.
These examples of differentiated thinking are just a few which I had imagined. May be they are good or may be not good enough. However, for others there may be countless such examples that could be converted into a reality be it goods or services. What a new era entrepreneur ought to do in all such instance is to ask to change the very line of thought by asking questions from all angles. The Problematic mind tree organization embedded within each human being has to channeled and focused for bringing about the entrepreneurial change in thinking and action. Perhaps then there would be lesser competition for industries if such thinking is allowed. Perhaps then the companies would be better cushioned to absorb the shock of the economic downturn.
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