The Hindu Business Line : Lesson to India Inc: Innovate, innovate

The key drivers for global competitiveness over the next ten years would be connectivity, convergence, cost of technology and communities forming across the world, says the management guru Prof C.K. Prahalad.

Speaking at a seminar here based on his book, ‘The New Age of Innovation,’ Prof Prahalad said that innovation in business would come, not so much from access to capital and technology, as it would from the ability to understand the complexity of moving parts and good business processes and analytics.

Prof Prahalad, who has co-authored the book with technology expert Prof M.S. Krishnan stressed that value in future was going to shift from product-centric view to personalised view. “Organisations should move from a firm-centric view to create a personalised view of innovation. Institutions and organisations should coordinate and aim for continuous innovation rather than have episodic product launches.”

“Where’s the iPod of the pharma industry?” asked Ms Kiran Mazumdar Shaw, Chairman and Managing Director, Biocon Ltd, in her keynote address at the seminar pointing to the fact that the Indian pharma industry was starved of blockbuster drugs.

Indian businesses, she suggested, should shake itself out of manufacturing and marketing other people’s innovations.

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