Innovation first, strategy next
On March 19th, at an evening full of innovators and top honchos of the business community, the Marico “Innovation for India” awards were announced. Erehwon, along with the Marico Innovation Foundation had recognized the Tata Nano as the “Global Game Changer”. Speaking at the event, Dr. Mashelkar, had recommended an Innovation day to be announced for India and it could be the date of the Tata Nano launch at the January Auto Expo, and Why Not? For Indian entities to stand up and get noticed, Innovating is the only way and innovating of the kinds Nano did. Innovation must do for India what quality did for Japan.
It’s time we stop romancing with incrementalism and low end ‘jugaad’ innovations. It’s time companies/entities and their leaders display intellectual and emotional courage to innovation challenges not attempted before. Therein lies the secret of liberating Indian aspirations and dormant talent, not only for the good of the business but also for the good of the society.
Innovating is a must for all entities. Businesses need to innovate to redefine growth and value creation Models, governance need to innovate to carve out relevant and impactful policies, social groups need to innovate to fundamentally redefine the ‘Quality of Life’ for the citizens. We have seen too many painful and pedestrian ideas floating around yielding almost nil value. Mumbai still doesn’t have an answer to Mithi river debacle. Bangalore can’t find innovative ideas to overcome its crumbling infrastructure and Delhi’s courageous stance of cleaning up illegal structures have reclined back to dark ages. Someone is just not aware of the power of Innovation.
Positioning Innovation: Like many other things, Innovation in most companies is subservient to strategy and that position itself is a killer to the liberating power of Innovation. There needs to be a pre-strategy process. If Innovation is what creates great strategies, then one could look forward to a very high consistency and quality of breakthroughs in that company. Very often, when companies look for Innovation to fulfill strategy, game changing ideas are orphaned leading to variety of misnomers.
a) These kinds of things happen once a decade.
b) The markets are not ready for the break through Innovation.
c) We have to be smart; we cannot do things that don’t fit strategic directions, etc.
To read the full article, click here...
To read the ePaper, visit: http://emagazine.managementnext.com
It’s time we stop romancing with incrementalism and low end ‘jugaad’ innovations. It’s time companies/entities and their leaders display intellectual and emotional courage to innovation challenges not attempted before. Therein lies the secret of liberating Indian aspirations and dormant talent, not only for the good of the business but also for the good of the society.
Innovating is a must for all entities. Businesses need to innovate to redefine growth and value creation Models, governance need to innovate to carve out relevant and impactful policies, social groups need to innovate to fundamentally redefine the ‘Quality of Life’ for the citizens. We have seen too many painful and pedestrian ideas floating around yielding almost nil value. Mumbai still doesn’t have an answer to Mithi river debacle. Bangalore can’t find innovative ideas to overcome its crumbling infrastructure and Delhi’s courageous stance of cleaning up illegal structures have reclined back to dark ages. Someone is just not aware of the power of Innovation.
Positioning Innovation: Like many other things, Innovation in most companies is subservient to strategy and that position itself is a killer to the liberating power of Innovation. There needs to be a pre-strategy process. If Innovation is what creates great strategies, then one could look forward to a very high consistency and quality of breakthroughs in that company. Very often, when companies look for Innovation to fulfill strategy, game changing ideas are orphaned leading to variety of misnomers.
a) These kinds of things happen once a decade.
b) The markets are not ready for the break through Innovation.
c) We have to be smart; we cannot do things that don’t fit strategic directions, etc.
To read the full article, click here...
To read the ePaper, visit: http://emagazine.managementnext.com
Labels: Innovation for India, Marico, Marico Innovation Foundation, strategy next, Tata Nano
posted by PressMart Team @ 2:19 PM
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