Innovation through Virtual Technologies

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Author(s): N. Raghavendra Rao (VIT University, India)
Copyright: 2011
Pages: 13
Source title: Virtual Technologies for Business and Industrial Applications: Innovative and Synergistic Approaches
Source Author(s)/Editor(s): N. Raghavendra Rao (VIT University, India)
DOI: 10.4018/978-1-61520-631-5.ch001

Keywords: Business Information Systems / Business Science Reference / Computer Science & IT / Computer Simulation

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Abstract

Rapid changes are taking place in global economy. It has become a necessity for enterprises to respond to these changes. Innovation in the business is the solution to face these changes. Identifying the right type of technology, knowledge and process are the main elements in designing an innovative method. Two business models are discussed for creating innovation models. Some of the concepts in information and communication technology and management are applied in these business models. Further, this chapter talks about the contribution of global virtual teams in designing and developing ideas for innovation.

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