ISLAMABAD:Innovation was a key to successful entrepreneurship for promoting business and enhancing profitability, besides competing in local and global markets, said Coordinator to Federal Tax Ombudsman and former Senior Vice President Lahore Chamber Meher Kashif Younis.
In his keynote address at a workshop on “The importance of Innovation in Entrepreneurship” held under the aegis of United Business Group in Federation of Pakistan Chamber of Commerce and Industry, here on Thursday, he said the successful exploitation of new ideas was crucial for a business to improve its process, offer better products and services to the market, besides increasing its efficiency and most importantly, enhance its profitability.
The marketplaces, whether local, national, regional or global were becoming highly competitive. Competition had increased as a result and knowledge-sharing opportunities offered by the internet, Meher underlined.
In the highly competitive world we live in, innovative ideas separate you from the rest, he said, adding innovation enhances the nature, creativity and design thinking process of a brand.
Meher Kashif said a new business could attain the height of success by incorporating creativity and added that it could open doors to various opportunities.
“We need to support innovators and entrepreneurs” to compete globally, he stressed.
He said, “We need to work together and use the skills within our communities to build strong, diverse and sustainable business”. Further adding, Kashif said, we also need to get better at clearly communicating how climate change would affect us.
The strategies of Middle East and North African (MENA) nations for the next 10-15 years included sustainability-in architecture, energy, tourism and community- but “we as citizens need to support their actions and collaborate within our own communities to market local changes”, Younis concluded.