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Abstract
The ultimate aim of any modern corporate is growth with profit maximization. Growth is the first and foremost characteristic of nature and its products which include modern societies with all their industrial, agricultural and service sectors and above all the research organizations to cater to the needs of primary, secondary and tertiary sectors. Governed by the laws of the universe and nature, societies, markets and above all human life are in the constant churn of development in the realm of creativity and innovativeness.
Description
Banks can provide innovative products and services to their corporate or retail customers only when creative people are in place along with latest technology. Such people might provide innovative ideas to customers and banks. By converting their acceptable ideas into reality, banks can get an edge to compete effectively in the global village. Indian banking is also changing its shape rapidly by adopting innovative technology, products and services.
Innovation is the key to success for any activity. Banking is therefore not an exception. Innovative banking is possible only when we have innovative people in banking. Moreover, innovative ideas of such people have to be heard at the right time by the right people. Only then the needed encouragement and support is given to convert such innovative ideas into reality.
In the past, a generation gap was considered to be with a span of at least ten years. Whereas with the improvement in the technology followed by integration of people and places across the world on account of revolutionary changes in information and communication the entire world has become filely a small global village. Since technologies are used by all organizations and people, we find that a new generation of techno savvy people emerging in a very short span of five years in every sphere of activity infusing dynamism and creativity leading to several innovations.
Keywords
Survival is the Mother of Innovation , innovative, technology, generation, global, products, banking, customers, account, organizations, technologies, communication, information,services,dynamism,encouragement,support.
