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NASSCOM-BCG Innovation Report 2007
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After its remarkable growth in the past two decades, the Indian IT- ITES industry is now a credible player on the world stage, and many Indian firms are seen as potent challengers to global incumbents. In today’s intensely competitive business environment, sustainable success is increasingly about creating new products, applications and services that provide a radically better experience for the consumer.
With each success come greater expectations. This is the challenge now faced by many segments of industry globally, including the Indian IT-ITES industry. Delivering “more” or “better” can be done by increasing efficiency, but beyond a point the value curve begins to flatten and it becomes increasingly difficult to keep providing ever increasing value-for-money. The only way to do so is therefore through innovation: not just executing the same series of steps more efficiently, but by doing new things in different ways to achieve new levels of output.
The term “Innovation” refers to changes to products, services, processes or business models. In the organisational context, innovation may be linked to performance and growth through improvements in efficiency, productivity, quality, competitive positioning, market share, etc. Future winners will be decided based on their capability to innovate and translate their innovations into financial results.
Firms are the atomic unit of market competition, they are also the entities that bring products and services to the end customer. As a result, innovation ultimately has to occur in the context of the firm and the industry it targets, irrespective of whether it is a start-up or a large firm.
The pathway to innovation for any firm can be defined in terms of two broad dimensions: the motivation for innovation and discipline for innovation. Actions that firms take for encouraging innovation will have an impact on the dimensions of both motivation and discipline of the firm for innovation. In the journey towards an optimal innovation strategy, a firm will have to go through three steps:
- Creating the foundation: Implementing a defined process for innovation management
- Walking the talk: Designing the appropriate organisation structure which creates a culture of innovation
- Working with other stakeholders: Creating models for significant collaboration with other ecosystem participants
Each of these steps that has several sub-steps and options that can be taken by firms to achieve their desired objective.
In this context, the NASSCOM-BCG Innovation Report 2007 provides a significant body of research on innovation management in the Indian IT-ITES industry. The report has been prepared through an extensive primary research conducted on Indian and MNC IT-ITES firms, accompanied by secondary research based on BCG’s extensive work on innovation globally. The report addresses three aspects of the Innovation agenda:
- Imperative for innovation: The challenges in front of the Indian IT-ITES firms and the need for the firms to loom at innovation as a ‘must-have’.
- Firm level agenda and approach for firms to spur innovation; A diagnostic tool-kit through which a firm can evaluate its current innovation maturity and the processes and mechanisms for a firm to develop a practical innovation strategy.
- Recommendations to expand the innovation ecosystem in India: Benchmarking the Indian innovation ecosystem with global innovation ecosystems and actionable recommendations to develop India’s innovation ecosystem.
The report also provides numerous case studies of both innovative firms and successful ecosystems.
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Updated on:
18 Sep, 2009
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