Innovation

Vijay Govindrajan, Dartmouth’s Tuck School of Business, shatters several myths about innovation, and proposes a book in collaboration with Chris Trimble on the same topic. According to Govindrajan, a creative idea is just the beginning, the rest is execution. Innovation is not limited to creativity. Further, innovation does not require a great leader, but only an above average leader who co-exists with the bureaucracy. Innovation project can be conducted independently since it requires some space of its own, but there cannot be total disconnect with the organisation whose resources are to be leveraged. The project team has to be accountable to some extent. While innovating, there should not be wholesale changes in the organisation as it disturbs the business-as-usual. The changes should be made only in that part of the organisation where innovation is being cultivated. Innovation is chaotic only to a limited extent.Most work on commercialization is pretty disciplined. Innovative culture must pervade the whole orgaisation. It is not just a top executive job. Innovation implies customer-orientation, but extreme care is necessary to identify who the customer is.  A luxury car customer would never say that he needs a $2500 small car. Even non-users or future customers must be considered. Business planning in an ever changing environment is necessary to create a capacity to respond to surprises. Many innovations are not new products, they could be a method of delivery, e.g. Mumbai dabbawalla’s delivering IPO forms and collecting them back along with tiffin or Apple iPod which is a hand-held drive. Lastly, innovation comes in different forms and requires a nuanced approach. Innovation could be dsetroyed if you apply general principles to it.

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