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INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2456-4184 | Impact factor: 8.76 | ESTD Year: 2016 Scholarly open access journals, Peer-reviewed, and Refereed Journals, Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool) , Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI) |
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| Paper Title: | Role of Technology in Fostering Innovation and Growth in Startup Businesses |
| Authors Name: | Gourav Kamboj |
| Download E-Certificate: | Download |
| Author Reg. ID: |
IJNRD_217022
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| Published Paper Id: | IJNRD2404067 |
| Published In: | Volume 9 Issue 4, April-2024 |
| DOI: | |
| Abstract: | Technology has played a crucial role in driving business innovation. The rapid advancements in technology have enabled businesses to enhance their operations, improve productivity, and gain a competitive edge in the market. In today’s digital era, technology has become an integral part of every business, spanning across various sectors and industries. This essay explores the role of technology in business innovation and its impact on organizations and society as a whole. One of the key contributions of technology to business innovation is the automation of processes. Automation has revolutionized the way businesses operate by streamlining operations, reducing human errors, and increasing efficiency. Through the use of sophisticated software, businesses can automate repetitive tasks, freeing up valuable time and resources. This allows employees to focus on more strategic and value-added activities, such as problem-solving and decision-making, leading to increased innovation and productivity. Furthermore, technology has facilitated the expansion of businesses beyond their traditional boundaries. With the advent of the internet and e-commerce, businesses can reach a global audience and tap into new markets. This has not only led to significant revenue growth but has also created opportunities for business expansion and diversification. Technology has enabled businesses to break down geographical barriers, establish online presence, and engage with customers in real-time, thus fostering innovation in marketing, sales, and customer service and innovation within organizations. Enhanced communication channels have allowed businesses to exchange ideas, collaborate on projects, and develop new products and services, leading to continuous business innovation. Start-ups in the modern age aren’t only establishing new companies; they’re blazing new paths. Sustainable growth Requires incorporating cutting-edge technology into every step of the business, from administration to production to Distribution. Using cutting-edge technology is essential for any startup, but it does not come without its share of perils. The road ahead might be paved with success or setbacks depending on the choices taken at this point. The goal of this Paper is to better understand the complex relationship that exists between the widespread acceptance of new technologies and the expansion of new business ventures. Furthermore, the aim is also to learn more about the factors that drive adoption, the roadblocks that slow development, and the solutions used to overcome these obstacles so that we may better advise startups. |
| Keywords: | Technology, Business Innovation, Digital Transformation, Operational Efficiency, Product Development, Market Expansion, Competitive Advantage |
| Cite Article: | "Role of Technology in Fostering Innovation and Growth in Startup Businesses ", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.9, Issue 4, page no.a508-a516, April-2024, Available :http://www.ijnrd.org/papers/IJNRD2404067.pdf |
| Downloads: | 00044 |
| ISSN: |
2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
| Publication Details: |
Published Paper ID:IJNRD2404067 Registration ID: 217022 Published In: Volume 9 Issue 4, April-2024 DOI (Digital Object Identifier): Page No: a508-a516 Country: Yamuna Nagar , Haryana , India Research Area: Commerce Publisher : IJ Publication Published Paper URL : https://www.ijnrd.org/viewpaperforall?paper=IJNRD2404067 Published Paper PDF: https://www.ijnrd.org/papers/IJNRD2404067 |
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ISSN: 2456-4184
Impact Factor: 8.76 and ISSN APPROVED
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