All posts tagged Innovation

9 Sep 2013

What Indian private sector can learn from the innovation strategies of Bharat Heavy Electrical Limited (BHEL)

Recently Forbes came out with a list of top international companies based on innovation. While I was expecting some usual names, I was shocked to see BHEL listed in the top 10, they were actually ranked 9th.

Please don’t misunderstand me. I love the power sector. It is the sector I am most knowledgeable about after Healthcare. And I have known BHEL for the last 36 yrs. My dad worked for BHEL, my uncle worked there too and so have 3 members of my extended family. But I never expected them to come in the top 10 in global innovation.

23 Mar 2013

Why Indian Businesses are focusing on Innovation? Some findings from the GE Global Innovation report 2013

Some time ago in this very blog, I had discussed why Innovation takes a back seat in India? So to my surprise when I read the latest GE Global Innovation report, a jaw dropping 94 % of the Indian respondents had mentioned the focus on innovation as their top priority.

Additionally most wanted to focus on innovation to improve profitability and to improve existing processes and services. But almost 66% wanted to use innovation to customize global offerings to local requirements. That is almost 13 % more than the average responses for Global leaders. Additionally almost 40 % wanted to use innovation to develop new business models.