Tag "innovation"

Create not pools, but an ocean

Innovation is a relentless pursuit for every successful organization, cutting across geographies and industries. And many are driving disruptions by promoting intrepreneur teams too. Doug Hall argues this is a flawed approach, benefitting only a select few. Innovation needs to operate in a broader realm—one that encompasses all and promises a level playing field.

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A mandarin narrative

“Understanding the China effect on global innovation will be essential for companies that wish to compete in China, take advantage of China’s innovation capacity, and adopt Chinese approaches to innovation to improve their own performance. The overall effect is that more innovation will originate in China—from both Chinese and global companies—and more companies would adopt the Chinese style of innovation.”*
What has helped many Chinese firms make remarkable strides—not just in the realm of innovation—is their swiftness in reformulating themselves, eschewing hierarchical structures, and adopting a customer-centric approach.

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Innovation is not everything

Companies often engage in quick fixes in a bid to be seen as innovative. While this may bring in short-term value, failing to focus on the long term could erode their most valuable moat—the brand. Hap Klopp explains why a brand’s story is not just about its logo or taglines. It is the combined accumulated impact of every aspect of the business, authoritatively unified under imaginative but single-minded direction.

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driving innovation

The US Patent and Trademark Office describes innovation as “…a word that touches every facet of our everyday culture from business to science and even the arts. Innovation is often associated with creating new things or ideas and includes improving upon old ones too. Businesses around the world have a great need to continuously innovate to stay competitive in the global marketplace and to bring consumers the latest and greatest products and services. But innovation is not defined by just a single event or even a single brilliant idea. Innovation is truly about a process, a series of steps that begins with human imagination and creativity and results in the creation of something of value for society to enjoy.”*

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rock the boat

Thomas Edison rightly said, “Genius is one percent inspiration, ninety-nine percent perspiration.” Ideas are simply solutions to problems. Its execution can spark change, and within an organization, it can lead to progress.

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a glass apart

In recent years, India has been touted as one of the fastest growing economies in the world and stood fourth in 2017, with a forecast GDP growth of 7.2%.1 This has been possible, in part, due to the government’s initiatives to encourage foreign players to manufacture in India, of which Make in India is a shining example.
One such multinational that has long established its presence in the country is the 167-year-old global behemoth Corning Incorporated, which entered the Indian market in the 1980s to produce CRT glass for televisions. Since then, the company has achieved breakthrough success and has diversified its portfolio into optical fiber cable and connectivity solutions, high-quality emission products, specialized materials for the semiconductor industry, labware and solutions for life science research and bio production, and the internationally-renowned Gorilla® Glass. Today, Corning’s investments are well-aligned with the emerging market trends in the country.

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DRIVE to the future

Mark Esposito, Ph.D. is professor of business and economics at Harvard University’s Division of Continuing Education and Hult International Business School and co-founder of Nexus FrontierTech, an AI Studio.
Terence Tse, Ph.D. is an associate professor of finance at the London campus of ESCP Europe Business School and co-founder of Nexus FrontierTech, an AI Studio.
Together, they are the authors of Understanding How the Future Unfolds: Using DRIVE to Harness the Power of Today’s Megatrends.

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‘ATMs are poised to grow more intelligent in understanding customer needs’

The all-pervasive ATM (automated teller machine) has turned fifty this year. John Shepherd-Barron came up with the concept of automatic cash dispenser after becoming frustrated at not being able to access his own money outside banking hours. He went on

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value core

In his book Breakout Growth Strategies for Emerging Markets, Professor Jagdish Sheth draws the contours of the 4As framework—acceptability, affordability, accessibility, and awareness—and explains how these can effect transformative change and spark reverse innovation. This outside-in customer-centric approach, which is the foundation of this piece too, is a sure-shot path to gain competitive edge and drive continuous growth.

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India innovates

Bruno Lanvin, INSEAD, talks about the Global Innovation Index and the potential of India to become a key player.

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