Mumbai: Innovation guru, Robert Tucker, who was in town to speak at the “Art of Innovation” seminar organized by CNBC–TV18 in Mumbai recently spoke to Mint on why innovation is becoming increasingly important in a competitive global marketplace.
Tucker has worked with a wide range of companies which include IBM India, Satyam Computer Systems Ltd, Nokia Oyj, American Express among others. He is also the author of ‘Managing the future: 10 Driving forces of changes for the new century’ and ‘Driving Growth through Innovation.’ Edited excerpts
What are the driving forces of innovation today, especially in a country like India?
I think the next driving force would be, how do you create a culture that is turned on for high growth and serving customers in new ways, says Robert Tucker
I think it’s the rapid globalization of markets; mobility of capital, talent, knowledge and information. I was here in 2003, and Tata (Tata Group) was a $12billion company, somewhat sleepy. Today Tata is generating $63billion in sales and revenue. They have restructured and embraced innovation and global markets. And they are not alone. Satyam (Satyam Computer Systems Ltd) is another company, the way they are structured... they have 1,500 senior management and top executives. Now, you may think that is a very top-heavy company, but every single one of those executives is the CEO of their division. They are very entrepreneurial, open to growth and market expansion.
I think the next driving force would be, how do you create a culture that is turned on for high growth and serving customers in new ways, finding new markets for products and services, or spotting new technology before the competitors? The question is can you deliver innovation, and innovation as I look at it, is very humble. Because if I create something, it better meet your needs, add to your life, provide a genuine benefit. Otherwise I’m toast! So, I don’t think the simple notion of `let’s throw some new technology at the customer’ works anymore. Look at the mobile phone for instance. I don’t know how many applications are squeezed into that one instrument, and I don’t use even half of them today.
But aren’t mobile companies making billions on the back of such not-so-useful innovations?
It’s a very competitive industry. I’ve worked with Nokia’s team approximately four years ago. And at that point Nokia wasn’t doing well -- they’ve made a great comeback. Again, it all comes down to who’s going to have the next best idea. Today, we are seeing tremendous copying; it’s easier to catch up. So, companies are wondering if it’s even worth investing that kind of time and money in coming up with something really innovative.