Innovation through Virtual Technologies

Innovation through Virtual Technologies

N. Raghavendra Rao (VIT University, India)
DOI: 10.4018/978-1-61520-631-5.ch001

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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Collaborative Technology

Information and Communication technology provides infrastructure for Virtual Collaboration. Due to technological advancements many concepts are emerging in this technology. Virtual reality, Data Warehouse, Data Mining, Text mining, Intelligent Systems, Web Based Intelligent Systems and Grid Computing are among the number of concepts provided by this technology.

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