Final 100 Mks Khushboo. Auto Saved)

8/8/2019 Final 100 Mks Khushboo. Auto Saved)

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INTRODUCTION

Title of the project :

The project is titled innovative ways to do business as the mainaim of this project is to show what innovation does the successful

companies do and also to know the level of innovation in India.

Objective of the study:

1. To study the worlds most innovative companys innovation.

2. To study the Indian companies who are known to be

innovative.3. To analyze the problems of innovation in India.

4. To suggest a solution to the problems of innovation in India.

Findings:

1. Need of innovation in business.

2. Studying innovations of some of the most innovativecompanies of world and India.

3. The business scenario in India

4. The reason behind lack to innovation in India

5. Ways to encourage innovation and talent in India

Limitations:

The problems of innovation in India are really grave and the

possible solutions given in this project are very difficult to

materialize and are in particular not an instant solution to the

addressed problems. The revenues of the listed companies are

not in this project.

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METHODOLOGY

1. Research Problem:

This work of research aims to study what the most successfulcompanies do and what should Indian companies do to be

more competitive and successful internationally.

2. Research Design:All the study in this project is from various research and

analysis. All the findings in this project are exploratory and

descriptive based from primary and secondary sources.

3. Sources of Data :

(A)Magazines:

Various articles taken from various business magazines are

used in the making of this project. The survey and the

analysis is an extracted study from business week, fast

company magazines.

(B)Internet:

Internet sites helped in collecting data of various companies

that was useful to understand the analysis and trend. The

reviews and other information about companies was studied

and collected from sites like Harvard business reviews,

livemint.

(C)Direct observation:Direct observation was used to draw inferences about the

changing trends in business and consumer profile.

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(D)Consumers Survey:

Survey helped me in discovery of radical changes in

consumers trends and their general awareness, views and

opinions, taste and preferences.

1. Designing Data Collection Form:

I conducted a survey and interviewed consumers between ages

16 55 yrs residing in Mumbai by preparing a questionnaire

consisting of about 10 questions.

2. Determining Sampling Design and Sampling Size:

I decided to take a sample survey and interviewed a sample

size of 50 consumers which included both male and female.

3. Processing and Analyzing the Data:

After collecting the survey data it is essential to analyze it. The

conclusions derived from the survey are presented in the formof pie diagrams and charts for easy and logical understanding

of collected data.

4. Preparing the Project Report:

After data collection and analysis, a final report is prepared to

study the survey.

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INNOVATION

Innovation is a new way of doing something or "new stuff that is

made useful". It may refer to incremental and emergent or radical

and revolutionary changes in thinking, products, processes, or

organizations. Invention is just a new product or service.

Innovation ties that idea to a better customer experience, and

results in increased sales and profits. As said by IBM CEO Samuel

J. Palmisano The way you will thrive in this environment is by

innovating -- innovating in technologies, innovating in strategies,innovating in business models.

Need and Importance of Innovation:

The pace of change continues to increase, market conditions are

changing more rapidly today than ever. What was satisfactoryyesterday is either no longer wanted or superceded by something

better today. Change brings both danger and opportunity.

Changes must be sensed, interpreted and then acted upon.

Charles Darwin said the species that survived were not the

most intelligent they were the most adaptable to change.

Innovation allows businesses to respond to this change.

Innovation is critical to sustaining business competitiveness andin improving productivity. Innovation in terms of business involves

successful development and application of new forms of

knowledge new ideas, business practices, skills, and

technologies to create greater value for customers.

Today due to increasing competition and accelerated products

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http://en.wikipedia.org/wiki/Emergencehttp://en.wikipedia.org/wiki/Emergence


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and service development cycles, innovation is playing crucial role

in any corporate success. As per the research conducted by

Forbes, Ernst & Young and the Wharton School of Business,

innovation is important for any corporate companies. In fact

results also show that half of the profit of most of the Giantcompanies of world comes from products launched in last 10

years. So now, main concern of any companys management

strategy is to encourage innovation through different channel of

their company.

In the 1990s, innovation was about technology and control of

quality and cost. Today, it's about taking corporate organizations

built for efficiency and rewiring them for creativity and growth.

Today, innovation is about much more than new products. It is

about reinventing business processes and building entirely new

markets that meet untapped customer needs. Most important, as

the Internet and globalization widen the pool of new ideas, it's

about selecting and executing the right ideas and bringing them

to market in record time.

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WORLDS MOST INNOVATIVE COMPANIES:

Given below are some of the worlds most innovative companiesin the year 2009.

2009

Rank

200

8Ran

k Company

HQ

Country

HQ

Continent

Known for its Most

Innovative

(% who think so)

1 1 Apple U.S.North

AmericaProduct (47%)

2 2 Google U.S. NorthAmerica

CustomerExperience (26%)

3 3ToyotaMotor

Japan Asia Process (35%)

4 5 Microsoft U.S.North

AmericaProcess (26%)

5 7 Nintendo Japan Asia Product (48%)

6 12 IBM U.S.

North

America Process (31%)

7 15Hewlett-Packard

U.S.North


8 13ResearchIn Motion

CanadaNorth


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http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=rankid&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=rankid&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=rank_2008&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=rank_2008&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=rank_2008&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=rank_2008&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=name&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=hq_country&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=hq_country&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=hq_continent&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=hq_continent&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=known&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=known&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=known&sortOrder=2&pageNum=1&resultNum=100http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=AAPLhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=GOOGhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=TMhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=TMhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=MSFThttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=NTDOYhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=IBMhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=HPQhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=HPQhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=RIMMhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=RIMMhttp://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=rankid&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=rankid&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=rankid&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=rank_2008&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=rank_2008&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=rank_2008&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=name&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=name&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=hq_country&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=hq_country&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=hq_country&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=hq_continent&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=hq_continent&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=hq_continent&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=known&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=known&sortOrder=2&pageNum=1&resultNum=100http://bwnt.businessweek.com/interactive_reports/innovative_50_2009/index.asp?sortCol=known&sortOrder=2&pageNum=1&resultNum=100http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=AAPLhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=GOOGhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=TMhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=TMhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=MSFThttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=NTDOYhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=IBMhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=HPQhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=HPQhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=RIMMhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=RIMM


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9 10 Nokia Finland Europe Product (38%)

10 23Wal-MartStores

U.S.North


11 11

Amazon.c

om U.S.

North

America

Customer

Experience (41%)

12 8Procter &Gamble

U.S.North


13 6TataGroup

India Asia Product (44%)

14 9 Sony Japan Asia Product (40%)

15 19RelianceIndustries India Asia

Business Model

(35%)

16 26SamsungElectronics

SouthKorea

Asia Product (41%)

17 4GeneralElectric

U.S.North


18 NRVolkswagen

Germany EuropeCustomer

Experience (38%)

19 30McDonalds

U.S.North

AmericaCustomer

Experience (55%)

20 14 BMW Germany EuropeCustomer

Experience (37%)

21 17WaltDisney

U.S.North

AmericaCustomer

Experience (68%)

22 16HondaMotor

Japan Asia Product (47%)

23 27 AT&T U.S.North


24 NR Coca-Cola U.S.North

AmericaCustomer

Experience (38%)

25 47 Vodafone Britain Europe Product (25%)

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http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=NOKhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=WMThttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=WMThttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=AMZNhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=AMZNhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=PGhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=PGhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?capId=3138393http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?capId=3138393http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=SNEhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=RELI.BOhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=RELI.BOhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=SAME_pq.Fhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=SAME_pq.Fhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=SAME_pq.Fhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=GEhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=GEhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=VOWGhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=VOWGhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=MCDhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=MCDhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=BMWG.Fhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=DIShttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=DIShttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=HMChttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=HMChttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=Thttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=KOhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=VODhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=NOKhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=WMThttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=WMThttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=AMZNhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=AMZNhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=PGhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=PGhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?capId=3138393http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?capId=3138393http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=SNEhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=RELI.BOhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=RELI.BOhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=SAME_pq.Fhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=SAME_pq.Fhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=SAME_pq.Fhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=GEhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=GEhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=VOWGhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=VOWGhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=MCDhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=MCDhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=BMWG.Fhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=DIShttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=DIShttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=HMChttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=HMChttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=Thttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=KOhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=VOD


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26 NR Infosys India Asia Process (40%)

27 NRLGElectronics

SouthKorea

Asia Product (46%)

28 NR Telefnica Spain Europe Business Model(40%)

29 31 Daimler Germany Europe Product (40%)

30 34VerizonCommunications

U.S.North

AmericaCustomer

Experience (38%)

31 NRFordMotor

U.S.North


32 35CiscoSystems

U.S.North


33 48 Intel U.S.North


34 28VirginGroup

Britain EuropeCustomer

Experience (45%)

35 NRArcelorMittal

Luxembourg

EuropeBusiness Model

(63%)

36 40HSBCHoldings

Britain Europe Process (32%)

37 42ExxonMobil

U.S.North


38 NR NestlSwitzerla

ndEurope Product (47%)

39 NR Iberdrola Spain EuropeCustomer

Experience (40%)

40 25 Facebook U.S.North

AmericaCustomer

Experience (51%)

41 22 3M U.S.North


42 NR BancoSantander

Spain Europe Business Model

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http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=INFYhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?capId=877066http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?capId=877066http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?capId=877066http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=TEFhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=DAIhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=VZhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=VZhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=VZhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=Fhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=Fhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=CSCOhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=CSCOhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=INTChttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?capId=36312http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?capId=36312http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=MThttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=MThttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=HBChttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=HBChttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=XOMhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=XOMhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=NESRhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=IDRO.BEhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?capId=20765463http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=MMMhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=STDhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=STDhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=INFYhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?capId=877066http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?capId=877066http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?capId=877066http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=TEFhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=DAIhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=VZhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=VZhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=VZhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=Fhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=Fhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=CSCOhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=CSCOhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=INTChttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?capId=36312http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?capId=36312http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=MThttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=MThttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=HBChttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=HBChttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=XOMhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=XOMhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=NESRhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=IDRO.BEhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?capId=20765463http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=MMMhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=STDhttp://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?symbol=STD


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(37%)

43 45 Nike U.S.North

America

CustomerExperience andProduct (36%

each)

44 NRJohnson &Johnson

U.S.North

AmericaCustomer

Experience (42%)

45 49SouthwestAirlines

U.S.North

AmericaCustomer

Experience (45%)

46 NR Lenovo China AsiaBusiness Model

(35%)

47 NRJPMorgan

Chase

U.S.North

America

Process (62%)

48 NR Fiat Italy Europe Product (30%)

49 24 Target U.S.North

AmericaCustomer

Experience (60%)

50 NRRoyalDutchShell

Netherlands

Europe Process (45%)

FOOTNOTES

DATA: Analysis and data provided in collaboration with the innovationpractice of the Boston Consulting Group and BCG-ValueScience. Reuters andCompustat were used for financial and industry data and Bloomberg for totalshareholder returns.

NR: Not Rated.

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Best I nnovation s D one By

C ompanies.

PRODUCT INNOVATION:

Apple

Let us take the case of the No. 1 company Apple, in an era

when most technology outfits have tightened their belts to

adapt to a slower-growing market; one company stands out for

forging ahead on innovation: Apple Computer (AAPL). Others

have slashed R&D and focused on incremental advances to

existing product lines. Not Apple.

To launch the iPod, Apple

used seven types of

innovation. They included

networking (a novel

agreement among music

companies to sell their songs

online), business model

(songs sold for a buck each

online), and branding (how cool are those white ear buds and

wires?). Consumers love the ease and feel of the iPod, but it is

the simplicity of the iTunes software platform that turned a

great MP3 player into a revenue-gushing phenomenon.

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By combining technical

knowhow with a new

concept for how to sell

music online, Apple's iPod

music player has become

the most influential newtech product in years. At

the same time, Apple has

maintained its reputation for making the most elegant, easy-to-

use desktop computers as well.

Much of the credit for this performance is attributed to ChiefExecutive Steven P. Jobs, who founded Apple in 1976 -- but was

ousted in 1985 before making a triumphant return in 1997.

Nintendo

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Other companies who have excelled in similar category of product

innovation is Nintendo, primarily a hardware and software

manufacturing company which gave us memorable characters

like Mario and Donkey Kong. Nintendo garnered almost 90%

market share. However, when Sony entered the industry in the

1990s, Nintendos position started to dwindle. Nintendos market

share plunged drastically as the preferences of gamers shifted

from simple fun games to technically superior gamers offered by

Sony and Microsoft, which entered the market in 2001.

When the company was almost at

the verge of getting closed it

launched Wii a console with an

unconventional design during

March 2006. Though Wii was not

directly competing with Sonys

PlayStation or Microsoft's Xbox, itmanaged to steal substantial

market share and fans of both the

players. On the software front, Nintendo has created game titles,

under the heading Touch! Generations.

Research In Motion Limited:

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Similar with Research In Motion Limited which designs,

manufactures, and markets wireless solutions for the mobile

communications market worldwide. The companys products

include BlackBerry smartphones and accessories, including

bundles, cases, audio and memory products, Bluetooth,chargers, batteries and doors, card readers and SureType, a

keyboard technology.

Nokia

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We are all familiar with Nokia and its continuous product

innovations. The company offers a range of devices for all

consumer segments and offers Internet services that enable

people to experience music, maps, media, messaging, and

games.

To get a sense of the value of customer research, Nokia tried todesign a phone for an illiterate customer on the Indian

subcontinent. That's the problem Nokia faced when it began

making low-cost phones for emerging markets. A combination of

basic ethnographic and long-term user

research in China, India, and Nepal helped

Nokia understand how illiterate people live in

a world full of numbers and letters. The

result being a new "iconic" menu that lets

illiterate customers navigates contact lists

made up of images.

Other innovative ideas followed. By listening to customers in

poorer countries, Nokia learned that phones had to be more

durable, since they're often the most expensive item these

customers will buy. To function in a tropical climate, it made thephones more moisture-resistant. It even used special screens that

are more legible in bright sunlight

CUSTOMER SATISFACTION

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Amazon.com

Customer satisfaction is

something very difficult to measure. The kind of innovation

required in customer experience is something that the above

companies have been able to achieve. Innovation in customer

experience drives loyalty. A strong image improves customer

satisfaction.

Amazon.com is an online retailer. They place heavy emphasis

on the user experience. It earns a reputation of on-time

delivery and competitive price if not the best. But what makes

this site buyers or customers favorite is that it remembers

your shopping cart. If you add something to your shopping cart

today and then you go back to Amazon.com four months later,

that item will still be there. Also, it suggests people with the

products based on their previous buys. They try to know the

taste and likes of

customers. It offers

practically all the

available products

spanning from home

and kitchen,

hardware, books,

videos and evenconsumer electronics.

Amazon.com's

shopping cart is quite

a marvel of modern

technology. It gives

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you options such as the ability to group your items into as few

shipments as possible, or have them shipped as quickly as

possible even if it means shipping them separately at

additional cost. That's a wonderful feature and it gives the

customer choice of convenience versus cost.

McDonalds

When it comes to customer satisfaction McDonalds (MCD) is a

classic example of how it takes a dedicated management team

to change with the times and reinvent a company when

necessary.

Obviously the company grew robustly in the 1970s and 1980s,

but hit a wall in the 90s and earlier this decade. Its menu got

stale and it didnt pay attention to its customers enough.

Complacency is a killer in the restaurant business and Mickey

Ds suffered from it.

Then, it vowed to make customer satisfaction a priority and

also tweaked its menu by

catering to a more health-

conscious group. Its Chicken

Selects have been a hit as thepublic has craved the health

benefits of white meat. The

results have been outstanding.

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Virgin

Experience is something very

intangible by adding tangibles

to it one can improve customer

experience this is what Virgin Groups believes in. Virgin was

certainly not the first to move into air travel, mobile telephony,

retail, and a host of other market spaces. But time and timeagain, it was first to launch features that improved the

customer experience in very tangible ways. For example, Virgin

Atlantic, which focuses on high quality and value, won new fans

by providing individual TVs for business-class passengers,

premium economy service, and the Upper Class Suite first-class

service. Consisting of over 200 branded companies, the Virgin

Group today boasts revenues of more than $20 billion.

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BUSINESS MODEL INNOVATION

Companies today are increasingly realizing the importance ofbusiness model innovation. Business model innovation has amuch stronger correlation with operating margin growth thanother types of innovation. From the above list four companieshave excelled in it they are:- Reliance industries, Telephonic A Spain based telecommunication company, Arcelor Mittal andBanco Santander A banking company.

Based on a research it was found that there are three main typesof business model innovation, which can be used alone or incombination: innovations in industry models, in revenue modelsand in enterprise models. It was found that all three types (orcombinations) of business model innovation can lead tosuccessful financial results.

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Given below are the innovation models:

1. Industry model innovation: Innovating the industry valuechain by moving into new industries, redefining existing industries

or creating entirely new ones. Also by identifying/ leveragingunique assets.

2. Revenue model innovation:Innovating how we generate throughoffering re-configuration(product/service/value mix) and pricingmodels.

3. Enterprise model innovation:Innovating the role we play in the valuechain by changing our extended enterprise and networks withemployees, suppliers, customers, and others, including capabilityor asset configuration.

It was found that there was no significant variation in financialperformance across the different types of business modelinnovation. But the good part being a sound strategy and strong

execution, of any of the paths can lead to success.

The above mentioned companies are operating in variousdifferent business or line of business and are successful in it. Weall are familiar with Reliance; it practically is operating in almostevery business line in our country and also doing well ininternational business as well.

Arcelor Mittal, is also a giant steel producer and marketer in theworld. It pioneers in steel business worldwide.

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While Telephonic is a telecommunications company providing itsservices in Spain as well as internationally through variety ofnetworks.

Banco Santander provides commercial and private bankingservices. The company has operations in 16 countries inContinental Europe. Its 5,998 branches serve approximately 25million customers.

BARRIERS TO INNOVATION

The No. 1 obstacle,

according to The Business

Week-BCG survey takers,

is slow development

times. Fast-changing

consumer demands,global outsourcing, and

open-source software make speed to market paramount today.

Yet companies often can't organize themselves to move faster,

says George Stalk Jr., a senior vice-president with BCG who has

studied time-based competition for 25 years. Fast cycle times

require taking bets even when

huge payoffs aren't a certainty.

"Some organizations are nearlyimmobilized by the notion that

[they] can't do anything unless it

moves the needle," says Stalk. In

addition, he says, speed requires

coordination from the hub: "Fast

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innovators organize the corporate center to drive growth. They

don't wait for [it] to come up through the business units."

A lack of coordination is the second-biggest barrier to innovation,according to the survey's findings. The best innovators reroute

reporting lines and create physical spaces for collaboration. They

team up people from across the org chart and link rewards to

innovation. Innovative companies build innovation cultures.

INDIAN SCENARIO:

To know how innovation would work in India we first need to

study the Indian scenario, look at its culture, business and

economic environment to know the changes and possibleavailable opportunities.

The consumption pattern in our country has undergone a great

change post the liberalization of our economy policies in the

1990s. The culture too has undergone a change with

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globalization, the buying habits of younger generation is very

different from the earlier generation. With the liberalization of

economy foreign investment in our country rose and with it came

what we call it today the call centre culture. The youth became

financially independent at a young age and their disposableincome increased as the foreign companies paid them much

higher. Along with all this came the exposure of media, people

today are increasingly aware about the product, price, quality and

the options available to them. But with all of this modernization

Indians still strictly follow their culture tradition and values. They

become less of price sensitive and more of value sensitive.

The purchasing power of people has grown steeply; people today

dont mind buying in credit. The factor that has lead to this

growth is the increase in the income level of the middle class due

to high rate of industrialization, growth of services sector and

better employment opportunities. The size of the middle class is

growing rapidly and today it stands at 30% of the total population

as per the statistics provided by the National Council of Applied

Economic Research (NCAER).

Today most Indian innovators both large and small are nowsingle-mindedly targeting the rural market, which accounts for

70% of India's population.Many grassroots Indian innovators are

farmers and villagers who have devised creative solutions to

address their basic needs for food, shelter, and sanitation.

For instance, Mansukh Prajapati, a potter and clay baker from thestate of Gujarat has devised Mitti Cool, an ingenious refrigeratormade entirely from terracotta (clay) that keeps water cool and

fruits, vegetables and milk fresh for days and yet doesn't use asingle watt of electricity. Mansukh isn't an exception.

The Honeybee Network, which is part of the National InnovationFoundation, which supports grassroots innovations in India, hascompiled a database of 10,000 inventions pioneered by ruralentrepreneurs like Mansukh.

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The only way India can sustain its long-term economic growth isby unleashing and harnessing the creativity of its grassrootsentrepreneurs, especially in rural areas. But the challenge is that,

these grassroots inventions don't scale up. Indeed, most ruralinnovation initiatives such as DesiCrew and grassroots inventionslike Mitti Cool, however impressive they may be, are sadly limitedin their impact to a local or regional market of a few hundredcustomers, and end up employing no more than a dozen workersin the local community. What is missing is a mechanism to cross-pollinate and scale up these bright ideas among India's 250-million-strong agricultural community which lives scattered acrossmore than 600,000 villages.

MOST INNOVATIVE COMPANIES IN INDIA

1. Aravind Eye Care System: With time-saving and cost-cuttingmeasures and a business model that lets the poor pay little tonothing, the 2008 Gates for Global Health award recipient hasbeen instrumental in lowering blindness rates in India's ruralareas.

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2. Bharti Airtel: The telecom company won two WorldCommunication Awards last year for services aiming to improverural life -- such as free voice messages with weather updates

and other crucial info for farmers.

3. Narayana Hrudayalaya: The hospital performs more than 20heart surgeries a day at low cost and high quality -- includingthe first artificial heart implant in Asia, last April.

4. MeritTrac Services: The HR-assessment firm's programsprovide high-tech education and testing of employees and job

candidates for an impressively expanding array of clients:Google, Honeywell, HP, IBM, and Microsoft.

5. Dr. Reddy's Laboratories: Among the new products from thefirst non-Japanese Asian pharmaceutical company to be listedon the New York Stock Exchange is a generic version of themigraine medication Imitrex.

6. Infosys: One of India's top IT outsourcing firms, Infosysmaintained its status with deals like a five-year multimillion-dollar contract to provide services to AstraZeneca.

7. Comat Technologies: The social enterprise partnered withsatellite provider Hughes India to provide 10,000 broadbandsatellite terminals in rural areas, making vital citizen recordsmore accessible in underserved areas.

8. Wipro: In 2008, the IT provider launched Wipro HIS Lite -- a

pay-per-use system that helps small medical facilities efficientlymanage patient data.

9. Tata Group: There were delays building its $2,500 Nano car,but the conglomerate's auto business launched redesigns and

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boosted sales for Jaguar after it acquired the luxury brand fromFord.

10.UB Group: The parent group of Kingfisher Beer and Kingfisher

Airlines saw a fruitful year, developing a diet whiskey and flyingits inaugural international flight.

PROBLEMS OF INNOVATION IN INDIA

India produces some of the brightest minds in technology, scienceand medicine yet has not demonstrated any truly large scale andbreakthrough innovations in those fields.

The giant India corporations of Reliance, Tata (TTM), Wipro (WIT),and Infosys (INFY) have huge revenues but produce very littleinnovative intellectual property [IIP]. Yet, India has criticalCountry Development issues that can only be addressedthrough the immediate and creative application of technology,which in turn requires massive technology innovations in a varietyof fields.

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Fields requiring immediate and large scale innovation run thegamut from clean energy (energy independence), housing theburgeoning middle class, providing affordable housing for the vast

pool of have-nots, elementary, primary and secondary education,health-care, national infrastructure (water, power, transportation)and finally, equality of opportunity. Solutions developed by Indiawill be uniquely Indian, but potentially applicable to the hugeswath of global population mired in poverty and living limitedlives, with little or no hope.

India can lead the way because it now knows how to developglobal solutions that work on a very large scale, especially those

that are technology intensive (witness Indias response to Y2K).Interestingly, India still is a chaotic, third world country, so weunderstand the need to adapt First World solutions to the chaoticenvironment of the Third World. India just needs to put in placethe culture, ecosystem and infrastructure needed to release thelatent potential of its huge entrepreneurial pool of businesspeople. In turn, India will not only create valuable companies thatmake shareholders wealthy, but could also pave the way for amore just and economically stable life for other third world

countries.

So first, lets explore why India is not successful innovating on alarge scale. Subsequently, we will examine two areas oftechnological innovation India should own and control in order tosustain its growth and accelerate its contribution to the evolutionof an economically and environmentally sustainable planet.

The first myth that is repeatedly said by pundits in the media orthose with a Western centric view thereof is that Asians lack theculture or mindset for true technological innovation.

An Innovation Ecosystem is the principal catalyst for fosteringrapid innovation and the translation of these innovations intolarge scale, successful businesses. In fact, the data suggests the

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ecosystem is the primary reason for the success of innovation orlack thereof.

The biggest advantage Western entrepreneurs have over Asian,

and specifically Indian entrepreneurs, are that their innovationsupport systems are mature and systematized. Meaning if anentrepreneur has a killer aptitude and wants to make it areality, they have access to the resources, support, funding andmentorship to create a solution, build a company around it,structure the appropriate corporate governance, line up therelevant strategic partners and take their product and/or serviceto market.

Fragments of this ecosystem exist in India, but compared to theUS, Indias innovation infrastructure lacks the organizedcomponents to create a Google, Apple, FaceBook, Microsoft, GE,Microsoft, or even the next generation of MySpace, YouTube orTwitter.

The major indicator of this gap in innovation is patents. Thenumber of patents filed in 2005 in India, were only 14,500 patent

applications, however, by the end of 2007 that number hadreached 35,000 patent filings. Yet over 60% of those were filed byforeigners! In contrast there were 417,508 patent applications inthe US in 2005, and a further 456,154 patent applications in2007.

Interestingly, further diligence revealed that one out of ten USpatents in 2006 had an owner or co-owner with an Indian namehelping to prove that Indians are exceptionally innovative, giventhe opportunity in an ecosystem that supports risk taking andinnovation.

Table 1: 2005 Patent Statistics by Country

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Clearly something is amiss. While there are many reasons for thedisparity in the quantity of patent applications filed in the twocountries, clearly this is at least one significant indicator of theinnovation difference between the two countries. So what are thereasons for the lack of India innovation today?

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3. An active segment of the Press focused on promotingearly stage ventures and building Entrepreneurs intoBusiness Celebrities. In the United States there arepublications and news channels (print, radio, TV, and online)

that specifically target almost every conceivable industrysegment, the emerging Stars in that segment, as well as theestablished movers and shakers in the target segment.Additionally, there are clearly defined process and businessesthat work actively to network entrepreneurs into the media andare vested in their success. In contrast, the business press inIndia is limited and solely focused on promoting the majors. Anactive emerging business media segment could do wonders inelevating entrepreneurship to a higher level and beinstrumental in catalyzing the maturation of evolution of the

India innovation ecosystems. The key message this mediasegment would send to the younger Indian generation is thatits OK to take risks, its desirable to dream big, it fine to fail andtry again until you succeed in other words, using the motto ofthe British Air Service (the very first Special Forces Group in theworld) -- He Who Dares Wins.

4. A Comprehensive Understanding of the Indian Consumerand the lack of formal Government support to promoteEntrepreneurship and Innovation. There is a significant (ifnot complete) lack of understanding of consumer trends insideIndia. The challenge in India is that there are almost 3 differentcivilizations (and their associated populations, cultures, andneeds) coexisting simultaneously in India today. There is theIndia of the ultra-rich, ultra-mobile and super educated (theyare the Indians who impress the World at Davos); there is theIndia that works in call centers to serve the West, and thenthere is the India that lives on $2/day. There are massive

opportunities within each of these segments but actual marketdata is lacking. This is where a public/private partnership wouldbe the most interesting. Western Market Research companiesand the Indian Government could work hand-in-hand to create anational blueprint and schedule that would accelerate Indiastransition. This blueprint would also serve as a guidepost forareas of entrepreneurship and innovation. Furthermore, the

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Indian Government could select specific regions of the Countrywhere they would create Small Business InvestmentCorporations (SBICs) the entities that jump started the USVenture Industry. The SBICs would be chartered to promote

innovation, entrepreneurship and investment in specific, criticalnational areas, primarily by promoting the growth of small,aggressive and agile technology companies that are targetingthe blueprint.

5. Establishing Compelling Reasons to Innovate:Unfortunately, most Indian companies are not in a hyper-competitive domestic market thus reducing the pressure onthem to Innovate or Die. Opening up all the maximum of

highest priority sectors of the Indian economy to globalcompetition will force these incumbent players to startinnovating aggressively in a variety of ways products,services, business models, organizational structures,operational execution etc. Internationally, Indian companies arecompeting and winning using a low pricing model and not withnew innovative ideas. As India continues to open its market toforeign competition, the pressure to innovate will increase, andthis will only be good for accelerating the development of theIndian Innovation Ecosystem. We are already witnessing this inthe real estate industry as demand for higher quality buildingsis increasing due to foreign developer competition.

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METHODS TO DEVELOP INNOVATIONECOSYSTEM IN INDIA

To unleash the power of innovation, to establish an agile, rapidlyevolving Innovation Ecosystem, and to accelerate Indiasinnovation engine from nascent to unstoppable India needs toestablish an Innovation Platform. This platform would be asynthesis of public/private partnerships, the key Indian institutesof higher learning, and Indian Diaspora spread across the planetin positions of power and influence.

This innovation platform would have one mission to unleashthe creativity and dynamism of the average Indian to solve

pressing public sector and private sector challenges, whilesimultaneously creating valuable, globally competitive privateenterprises as the vehicles to deliver and profit from thesesolutions.

One guaranteed way to ignite the development of this innovationplatform would be for the Indian Government to create an I-PrizeInnovation Foundation (IPIF), funded with $1 Billion US that wouldoffer outright, unrestricted cash prizes to individuals, institutions,and/or companies providing solutions to critical, time sensitive

problems required to accelerate Indias continued growth. The I-Prize would target specific domain areas e.g. energy,transportation, communications, education, ethics, health care,rural development, job creation etc. The prize would be open toIndians, Indian Companies or global companies willing to operatein India.

The IPIF would start at the federal level but would rapidlyestablish offshoots at the state level, similar (but different) to theUS SBIC program. The IPIF could be complemented with additional

low interest business loans, tax incentives, or subsidies toencourage large scale commercialization of winning solutions. Atthe very least the IPIF will provide a tangible reward for solving aparticular problem, with protection to the Innovators in order toallow them to succeed in commercializing their innovations. Thiscould potentially jump start the creation and formalization theinnovation ecosystem, and start attracting a constant flow of

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people into the entrepreneurial world as they would be able tosee a more defined path to see profits, recognition, and careeradvancement.

Imagine a gifted inventor receiving a 40 crores (US $10 million)

reward for inventing a solar powered mobile phone or even asmaller 1 crore (US $250,000) prize for inventing a very safe, zeroemission, 3-4 passenger vehicle. The I Prizes would invigorateinventors in waiting and provide them a clear path to becomewealthy and widely recognized while helping to solve challengescritical to Indias continued growth. The possibilities are endless.

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Fundamental Innovations Required for Sustainingand Accelerating Growth:

Amongst all the opportunities in India, there are six areas wherethe Indian Government urgently needs quantum leaps in

capability in order to insure stability and long term economicgrowth. The Indian Government or leading Indian companiesshould establish IPRIZES or other incentives for fundamentalinnovations in each of these areas and unleash the creativity andentrepreneurial spirit of Indians. Specific innovation areas are:

1. Clean, Renewable and Reliable Energy Sources and aNational Energy Grid that insures a continuous, expanding,and uninterrupted supply of energy to meet Indias soaringenergy requirements. This should be the highest priority as

without clean, secure and plentiful power India will never beable to pull the majority of its population into the 21st century.The Indian Government needs to immediately engage its hugepool of intellectual talent in the experimentation, developmentand trials of multiple forms of renewable energy, with theobjective of finding one that is clean and eliminates the relianceon fossil fuels. Think it cant be done, just look at Iceland thefirst truly (almost 100%) hydrogen and thermal energyeconomy, where public/private partnerships are starting to

produce amazing results.

2. Communications, Transportation and Logistics : Once youhave established a reliable energy grid you need to insure real-time fault tolerant communications, insure the ability tophysically (and reliably) connect the far reaches of the vastIndian sub-continent country via a working road, rail and airtransportation system and associated transportation hubs, andinsure the development/implementation of a logistics

management system that insures the smooth flow of people,goods and service from any point to any point within the Indiaand to points outside.

As an example the innovation in communications requires aplatform that is ubiquitous, high bandwidth, relatively cheap,and impervious to the vicious Indian weather patterns. This

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logically leads us to an ultra high speed wireless networkcreated by the government in partnership with mobileoperators. At the end of 2007, India had 233 million mobilephone subscribers, an incredible 56% increase year over year. If

your neighborhood experienced 56% growth last year and thegovernment didnt improve the infrastructure to allow newroads, retail establishments, and businesses youd probablyvote them out of office. However, if the government incooperation with Indian mobile companies produced an ultrahigh speed cellular network, innovative Indian entrepreneurswould create entirely new forms of mobile video on demand,wireless education programs, gaming, mobile commerce, andlocation based applications that can immediately be leveragedby 20% of Indias population. This market alone is larger than

the US mobile network.

Unfortunately (to date) it is not evident that there is an Indianmobile industry group pushing for a subsidized high speedmobile phone information highway that allows new innovativemobile businesses to be built on top of this infrastructure? As ananalogy South Korea implemented a high speed broadbandwireless telecommunications network as a foundation to build aknowledge-based society in the 1990s. Since then there havebeen numerous businesses built on top of the network that

never would have existed without the foundation. SouthKoreans became innovative because there was a subsidizedhigh speed wireless network to build and profit on.

Think it cant be monetized successfully? There are already freemobile solutions subsidized by advertising that are working inthe UK. National or local businesses, merchants and retailerscould subsidize mobile phone use while giving Indias poor theopportunity to participate in the India growth story. Better, younow allow the poor to create innovative mobile business

opportunities that target the poor - a group that is largely beingignored today. What will power this phenomenon is not just thesubsidy, but the ability to innovate and improve in ways thatgenerate profits, knowledge, or an improved brand or company.

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3. Elementary, Primary and Secondary Education : Long termnational security, economic opportunity, and economicprosperity requires the development of a world class education

system with a dedicated teacher core, focused on providingIndias masses with strong grounding in educationfundamentals. It also requires the development of a nationalnetwork of physical education infrastructure, standardizedcurriculum, and measurement systems. Getting primaryeducation right is critical for jump starting economicadvancement --- the AESAN countries have done an incrediblejob here, thus changing the lives of entire populations for thebetter. India should create an IPRIZE here and solicit input fromthe huge pool of talented Indian educators, professionals andprivate enterprises as to what it would take to create a world-class, fair and equitable education system. The Governmentcould play the role of insuring or subsidizing physicalinfrastructure and educational standards while leaving theactual teaching to the private sector.

4. Affordable Housing : India is in a short-term real estatecyclical downturn in some areas (mainly Tier I cities).

Nevertheless, there is clearly a need for low cost, high qualityhousing that is resistant to any real estate downturn now or inthe next decade. There are some current attempts to addressthis market but its a small pebble in a large ocean ofopportunity. India needs a set of innovative technology housingsolutions combined with a government subsidized platform oftax incentives, innovative financing, low cost land, andguaranteed utility (gas, electric, water, access roads, etc.)infrastructure. In principal, a high density Special ResidentialZone [SRZ] with clear rules and goals for all participants. Oncethat platform is guaranteed by the local or nationalgovernment, innovative developers will create low cost housingsolutions because they will be assured of a reasonable profit.

If real estate developers were able to see a reasonable profit bydeveloping low cost housing on top of a government subsidizedplatform, then the innovations in this area would render even

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Steve Jobs speechless. Of course the quality of construction willneed to be monitored along with some necessary training, butthe opportunity in this area for real estate developers is toorewarding weighed against any inconvenience of maintaining

quality and attending training courses.CONSUMER SURVEY

The survey is conducted in Mumbai city. A sample of 50 people ofage 16-55 yrs is taken for the purpose of survey. Given below isthe demographic segmentation.

1. Do you think that Tatas Nano is one of the worlds most

innovative car?

Interpretation:

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Close to 85% people felt that Tatas Nano is one of the mostinnovative cars in India. While 15% people disagreed to that it isworlds most innovative cars, they felt that there have been other

innovative cars that are far more better than Nano.

2. Do you think that Tatas Nano is a successful car

commercially?

Interpret ation:

70% people were of the opinion that Tatas Nano is commercially

a success as it is a low price car. Whereas 15% people disagreedsaying that it is too early and there are other factors that shouldbe considered while measuring its commercial success.

3. Do you think that the latest Tata DOCOMOs 1ps/sec

was most competitive pricing strategy by Tata?

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Interpret ation:

80% people were of the opinion that DOCOMO was the mostcompetitive pricing strategy adopted by Tata. Whereas 20%people felt that there were other pricing strategies that weremore competitive than that like 10ps/min and in case of fewcompanies same network call was free.

4. Do you think that Ratan Tata is one of the most

innovative and successful entrepreneur that India has?

Interpreta tion:

75% of people felt that Ratan Tata is one of the most innovativeand successful entrepreneurs that India has. Whereas 25% peoplefelt that there are other entrepreneurs who are more innovativeas well as successful than Ratan Tata.

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5. Do you think that Tatas group of companies is one of

the most innovative and respectable companies that

India has?

Interpreta tion:

73% of people felt that Tata is one of the most innovative andrespectable companies India. Whereas 27% people felt that thereare other companies that are better than Tata.

6. What do you think is the pricing of overall all products of Tatas?

Interpretation :

7% of people were of the view that Tatas products are expensive.Whereas majority of 63% people felt that its products are

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affordable. While 30% people felt that its not at all expensiverather is very cheaply priced.

7. Which of the companies given below are the most

innovative according to you?

Interpretation:

There was a very close competition between Tata and Reliance.34% of people said that Tata is the most innovative companyIndia as far as the product goes. While 32% people said thatReliance is the most innovative company from the business modelpoint of view. Whereas 24% people said that Infosys is mostinnovative. 10% people said that there are companies which aremore innovative than the above companies.

8. Do you think that Indian companies currently have the

potential to compete internationally?

Interpret ation:

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A majority of 88% of people said that India has the potential tocompete internationally. Contrary to 12% people who were ofvery pessimistic view that India cannot compete internationally.

9. Given the right kind of required environment can India

compete in the world?

Interpretation:

90% of people felt India can definitely compete in the world andcan be one of the best given the right kind of environment. 10%

people were of the view that India cant compete in the world.

10.What do you think does India lack to be a country with one of

the most successful innovations?

Interpret ation:

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65% people said that there is a lack of support from governmentand bureaucracy which is the major hurdle for innovation. 30%people said that proper infrastructure like education, financial

support, other facilities like roads, transportation etc. is theproblem. Very few 5% people said that India lacks that culture ofinnovation.

Conclusion

Many Indians living outside of India are extremely innovative andhave developed innovative solutions because the US and Europeprovide an innovative ecosystem. It is a well known fact thatsome US companies are utilizing young Indian innovators tocreate new products. These foreign sponsored programs haveshown early success and help prove that if an innovative platformopportunity exists, Indians rise to the challenge.

India cant keep competing on low cost labor alone and needs todevelop a new innovation strategy. Innovation capability must beslowly ingrained into the DNA of the society while the governmentprovides a level playing field to promote innovation. India canstart small, build a few platforms with well defined goals andrules, and then let Indian creativity burst into producing the nextmobile banking application, energy neutral housing, or solarpowered mobile phone.

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Annexure

1. Do you think that Tatas Nano is the worlds most innovative

car?

Yes

No

1. Do you think that Tatas Nano is a successful car

commercially?

Yes

No

1. Do you think that the latest Tata Docomos 1ps/sec was

most competitive pricing strategy by Tata?

Yes

No

1. Do you think that Ratan Tata is one of the most innovative

and successful entrepreneur that India has?

Yes

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No

1. Do you think that Tatas group of companies is one of the

most innovative and respectable companies of India?

Yes

No

1. What do you think is the pricing of overall all products of

Tatas?

Expensive Affordable

Cheap

1. Which of the companies given below are the most innovative

according to you?

Tata

Reliance Infosys

Other

1. Do you think that Indian companies currently have the

potential to compete internationally?

Yes

No

1. Given the right kind of required environment can India

compete in the world?

Yes

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No

1. What do you think does India lack to be a country with one

of the most successful innovations?

Proper bureaucracy

Infrastructure

Culture and attitude

Bibliography

Books and magazines :

Marketing Management Philip Kotler

Harvard Business Review On The Innovative

Enterprise( Series - Harvard Business Review

Paperback Series )

Getting It Right the First Time: How Innovative

Companies Anticipate Demand - John Katsaros andPeter Christy

The Marketing Book Michal J. Baker

Principles of Marketing (13th Edition) by Philip

Kotler

Fast company

Business week

Websites:

Harvard business org.com

Livemint.com

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