Mr. Choudhary Rudra Charan Mohanty, Environment Programme CoordinatorAugust 25, 2009
Seminar talk by Mr. Durgadatt Pathak, GM – IR, Tata SteelSeptember 4, 2009
Date: August 27, 2009
Speaker Profile :
IIMA , Ahmedabad
Business innovation involves a wide spectrum of original ideas, including new ways of doing business, new business models, business application of technology and communications, new management techniques, environmental efficiency, new forms of stakeholder participation etc.
The old principles no longer work in the new economy. The real problem is “dysfunctional mismatch between today’s business environment and the classic business model. Quite simply, the wrong model may transform a company into the vehicle of its own death.”
Radical shifts in ideas, processes and practices – have been shaping the economy and business environment in recent decades. Technology, especially on information and communication, has radically altered the requirements for building and managing a successful business.
Today’s most successful business innovators, while still greatly concerned with cost structure, maximizing operational effectiveness, and business process re engineering, have shifted their focus to issues of:
- How to build capabilities for faster growth
- How to attract and retain the best people,
- How to develop leaders at all levels in the company
- How to manage knowledge effectively
- How to become a true learning organization
What emerges out of these interventions is a stronger focus on the basics of what ultimately creates value today – for all stakeholders of business. These interventions revolving around people, knowledge and coherence foster the creation of value and ensure that each activity of the business contributes to creation of system-wide value. It also goes beyond the workplace into building a favorable social climate within and around the company.
The innovative architects of business can be found in a variety of business settings right from – corporate change leaders, initiators of joint ventures, managers of radical innovation projects, in-company ventures, spin-outs, or new ventures. Although the settings are different, all business innovators have one thing in common: they all design and run a new venture to achieve its sustainable growth.
The School of Management has decided to recognize and honour such business innovators and architects who have built a sustainable balanced business system for a lasting success. Towards this end we are creating a platform titled “Business Innovator Seminar Series”.