Maintaining the momentum: While it’s easy to kick off innovation initiatives, sustaining them isn’t

Abstract

As the dark clouds of slowdown and uncertainty stalk Indian industry, companies look for new ways to generate growth. They are turning to innovation for new options. Yet, many senior corporate executives complain that they started an innovation program seriously, but somehow it got stuck and lost momentum. They ask, “How can this be avoided?” This is not an unusual problem. It’s easy to crowd out innovation. The pressure of ongoing operations and quarterly targets leaves little time for thinking about or doing things differently. So, it’s not surprising that even well-intentioned efforts to drive innovation peter out. But this can be avoided. To see how, let’s learn from some of India’s innovation leaders. Titan Industries is arguably India’s most innovative company because it innovates extensively on all four important dimensions of innovation — product, process, customer experience and business models. Read more at: https://www.outlookbusiness.com/perspective/maintaining-the-momentum-2567