Innovation

Innovation

One of the natural behaviours of a nomadic mindset is innovation. This has become a buzz word in all of the industries, governments, and walks of life today no matter where you live on this globe. Mongolia is not different in this. Here is something that I have never seen anywhere else in the world. Truly clever!

When Mongolians buy something or pay for food, on the bottom of the receipt there is a barcode. This barcode gives them a 2% discount on the VAT they pay. They have an App that they immediately take a picture of the barcode on the receipt and it registers the tax and the refunds they will get. From the App, they can also see how much tax they are getting back from every purchase and keep track of the savings and tax rebate they will get back at the end of the year. Ingenious really! As I said I have never seen this anywhere in the world. A Nomadic Mindset at play here.

“Be a Columbus smell the fragrance of the new lands and discover them.”

Amit Ray

I asked for the reason behind it. First of all, it is to curb corruption, the black market and get a more harmonious marketplace. If you purchase on the black market you won’t get a receipt so you are still paying high prices, generally speaking. I think people everywhere love a sale or a rebate or something that gives them their money back. Odd thought process yet that is life, I have found.

The next thing it is the ‘carrot and stick’ process of incentives. It works famously here and I believe other governments in the world ought to consider this. Of course, the discussion might end with “Let 's just lower the taxes”. True, but mentally, people think they are getting their money back if they see it tangibly in some way, shape or form. I love to see a rebate at the end of the year on my tax return. Don’t you?

Innovation is a behaviour of a nomadic mindset. My book is called, The
Nomadic Mindset
The Mindset of the Future
That is innovation – The Mindset of the Future – otherwise, you will get left behind or your organization will potentially or most probably become a dinosaur in no short process.

 

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