Rishikesha T Krishnan Presentation at Thinkers50 India

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Thinkers50 India is a joint initiative of Institute for Competitiveness, India and Thinkers50.

Institute for Competitiveness, India is an international initiative centred in India, dedicated to enlarging and purposeful disseminating of the body of research and knowledge on competition and strategy. Institute for Competitiveness, India conducts and supports indigenous research, offers academic and executive courses, and provides advisory services to the Corporate and the Governments. The institute studies competition and its implications for company strategy; the competitiveness of nations, regions & cities and thus generates guidelines for businesses and those in governance; and suggests and provides solutions for socio-economic problems.

Created in 2001 by Stuart Crainer and Des Dearlove, the Thinkers50 was the first-ever global ranking of management thinkers. In the intervening decade, the scope of Thinkers50 has broadened to include a range of activities that support its mission of identifying, ranking and sharing the best management thinking in the world. Today, Thinkers50 is widely recognized as the world’s definitive ranking of the top 50 business thinkers, and the T50 Distinguished Achievement Awards are widely regarded as the “Oscars of management thinking.”

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  • Simply awesome sir. Thanx for the journey thro 8 steps to innovation.
    Salma Ahmed
    Faculty at Aligarh Muslim University
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Rishikesha T Krishnan Presentation at Thinkers50 India

  1. 1. Rishikesha T. Krishnan Professor & Area Chair, Corporate Strategy & Policy, IIM Bangalore Going Beyond Jugaad: Can India Create a Systematic Innovation Capability? August 30, 2013
  2. 2. India: A Comparative Snapshot Source: NESTA, Our Frugal Future: Lessons from India’s Innovation System, 2012 India is placed at #66 on Global Innovation Index (INSEAD & W Lost two places in the last year. 2
  3. 3. Why does India fail to do well on innovation in spite of having creative people?3
  4. 4. Barriers to Innovation in Indian Organisations Originate from Indian society and culture • Poor teamwork • Enduring importance of upward hierarchical progression • A brahminical attitude that gives brainwork a superior position over physical work • A weak systems and strategic orientation (and the resulting paucity of appropriate change paradigms) • Low tolerance of failure • A lack of confidence in innovation capabilities • A failure to positively reinforce innovation efforts • A strong need for control that comes in the way of joint working with other organisations. Source: From Jugaad to Systematic Innovat The Challenge for India 4
  5. 5. Innovation by Firms Inputs People Funding Knowledge Infrastructure Capacity to Innovate Incentive to Innovate Benefits Competition Appropriability Rewards Social Environment Political Environment Economic Environment Technology Environment Government Policy International Environment Improved since 1991 Remain areas of concern 5
  6. 6. We have a homegrown approach called Jugaad… For transportation… ……or making lassi! Source: From Jugaad to Systematic Innovat The Challenge for India 6
  7. 7. The Problems with Jugaad  Based on individual ingenuity  Inadequate scientific or engineering base  More craft than science  Difficult to solve complex problems  Not scalable Source: From Jugaad to Systematic Innovat The Challenge for India 7
  8. 8. Indian Companies & MNCs have different challenges! Too improvisational & ad-hoc? Too slow & deliberate? Embrace Systematic Innovation Be more entrepreneurial
  9. 9. 9
  10. 10. 8 Steps to Innovation: Building a Systematic Innovation Capability 1 Build a pipeline 3 Improve Batting Avg 2 Improve idea velocity
  11. 11. Build a Pipeline 1. Lay the Foundation 2. Create a Challenge Book 3. Build Participation Source: Dabholkar & Krishnan 8 Steps to Innovati 11
  12. 12. LAY THE FOUNDATION STEP 1 8 Steps to Innovation Excellen Source: Dabholkar & Krishnan 8 Steps to Innovati 12
  13. 13. Titan: The 3M of India? Karatmeter resulted in transformation of jewellery business “Anyone can be an Innovator” Innovation School of Management Process innovations result in 100s of crores savin 13
  14. 14. Buzz Creation (creative campaigns)14
  15. 15. Some Titan Innovation Campaigns  2004: “What is new?”  Identification and implementation of 5 new ideas by every supervisor on the shopfloor  2006: HOD Fund  Every head of department authorised to spend upto Rs. 1 lakh on an idea without any approvals  2008: “Simplify & Automate”  Most successful theme at Titan  2009: “Innovation School of Management”  Making every employee an innovator Source: Dabholkar & Krishnan 8 Steps to Innovati 15
  16. 16. Build a Pipeline  Lay the Foundation  Create Innovation Program  E.g. Jeff Immelt “Imagination Breakthroughs” - $1B potential  3 Key Processes  Idea Management  Buzz Creation  Training & Development 16
  17. 17. Training & Development  Titan Innovation School of Management  “Everybody an innovator by 2015” Focus area Techniques Design thinking Immersive research, rapid prototyping, brainstorming Systems thinking TRIZ Systems archetypes Theory of constraints (TOC) Lateral thinking Edward de Bono’s six thinking hats Source: Dabholkar & Krishnan 8 Steps to Innovati 17
  18. 18. CREATE A CHALLENGE BOOK STEP 2 8 Steps to Innovation Excellen 18
  19. 19. Build a Pipeline 2. Create a Challenge Book  Feel the Pain  Sense the Wave  See the Waste Source: Dabholkar & Krishnan 8 Steps to Innovati 19
  20. 20. Why was the Bajaj Pulsar successful? Source: Dabholkar & Krishnan 8 Steps to Innovati 20
  21. 21. Why was the Bajaj Pulsar successful? Pain: New generation of bike riders wanted more than transportation: power & style at a reasonable cost Wave: Young, male employees with disposable income far away from home Waste: Powerful bikes consumed too much fuel (solved by DTSi 21
  22. 22. BUILD PARTICIPATION STEP 3 8 Steps to Innovation Excellen 22
  23. 23. Examples  Role model  Community of practice  Innovation catalyst  Rewards & recognition Source: Dabholkar & Krishnan 8 Steps to Innovatio 23
  24. 24. Improve the Idea Velocity 4. Experiment with Low Cost at High Speed 5. Go Fast from Prototyping to Incubation 6. Iterate on the Business Model Source: Dabholkar & Krishnan 8 Steps to Innovati 24
  25. 25. EXPERIMENT WITH LOW COST AT HIGH SPEED STEP 4 8 Steps to Innovation Excellen 25
  26. 26. Improve the Idea Velocity 4. Experiment with Low Cost at High Speed Source: Dabholkar & Krishnan 8 Steps to Innovati 26
  27. 27. itch idea demo impact Feasibility Loop Viability Loop 2 months Sep 2003 Nov 2003 Feb 2004 3 months 2 months Apr 2004 Source: Dabholkar & Krishnan 8 Steps to Innovati 27
  28. 28. Creating a Climate for Experimentation  Failure plays a critical role in innovation  Post-It Notes & failed adhesives  Create infrastructure, give resources for experiments  Have a high trial rate: fail fast, learn fast  Can you do the “last” experiment first?  Marico, Mahindra & Galaxy Surfactants have 28
  29. 29. Avoid the “Failure Fallacy” 29
  30. 30. GO FAST FROM PROTOTYPE TO INCUBATION STEP 5 8 Steps to Innovation Excellen 30
  31. 31. Improve the Idea Velocity 5. Go Fast from Prototyping to Incubation Source: Dabholkar & Krishnan 8 Steps to Innovati 31
  32. 32. ITERATE ON THE BUSINESS MODEL STEP 6 8 Steps to Innovation Excellen 32
  33. 33. Improve the Idea Velocity 6. Iterate on the Business Model Source: Dabholkar & Krishnan 8 Steps to Innovati 33
  34. 34. Theme 3: Increase the Batting Average 7. Build an Innovation Sandbox 8. Create a Margin of Safety 34
  35. 35. BUILD AN INNOVATION SANDBOX STEP 7 8 Steps to Innovation Excellen 35
  36. 36. Increase the Batting Average 7. Build an Innovation Sandbox Source: Dabholkar & Krishnan 8 Steps to Innovation 36
  37. 37. The Power of Platforms 7 Themes  Digital consumers  Emerging economies  Sustainable tomorrow  Smarter organizations  New commerce  Pervasive computing  Healthcare economy WalletEdge Platform Offering http://jugaadtoinnovation.blogspot.in/2012/04/infosys-innovation-to-build-tomorrows.html 37
  38. 38. Open Innovation As one of the biggest players in the water purification market, Eureka Forbes is a natural partner for new technologies. EFL keeps itself open to new ideas from all over the world E.g. : Nanoceram technology developed by Argonide Corp. USA – takes care of viruses without chemicals 38
  39. 39. CREATE A MARGIN OF SAFETY STEP 8 8 Steps to Innovation Excellen 39
  40. 40. Increase the Batting Average 8. Create a Margin of Safety Source: Dabholkar & Krishnan 8 Steps to Innovati 40
  41. 41. Could a premortem have prevented Dreamliner problems? A premortem might have surfaced important failure modes such as problems with the Lithium-ion battery 41
  42. 42. My Contacts:  Phone: +91 9845022710  Email: rishi@iimb.ernet.in  Blog: http://jugaadtoinnovation.blogspot.in  Web: http://www.iimb.ernet.in/~rishi  Book: http://www.8stepstoinnovation.com 42

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