IIPM-Publications:- INTRODUCTION

So what is ‘Innovation’? Is it an Apple coming up with an iPod? Or is it a GE coming up with a GECIS? Is it a Reliance coming up with a new zero-tax financial accounting system? Or is it a Chlormint coming up with Dobara Mat Poochna? Peter F. Drucker, the father of modern management, made it quite simple for management theorists and practitioners across the world. He redefined innovation in a way none other had done. He defined an innovator as an entrepreneur! And vice versa! Drucker drilled in the fact that the ‘newness’ of innovation, comes from nothing else but entrepreneurship – the urge to establish not just new businesses, but also new products, services, processes, structures etc. Drucker taught global corporations how staffing their organisations with ‘innovators’ (or rather ‘entrepreneurs’) was the only way to improve performance standards, and spectacularly!

In fact, his treatise, Innovation & Entrepreneurship, formed the Bible of understanding innovation for ages... Well, that was till Hammer & Champy came along! Michael Hammer and James Champy, in their historic covenant, Reengineering The Corporation, gave a smashing new name to innovation, BPR! Or Business Process Reengineering. Hammer & Champy proved, with mind moving logic, that only “the fundamental rethinking and radical redesign of business processes” could allow ‘entrepreneurs’ to achieve dramatic (mind the word, “dramatic”) improvements in performance; and these processes could be within any level of the organisation.

For a decade, BPR became ‘the’ synonym for innovation, the temple of sacred learning... Well, that was till Kotler & Porter came along. Philip Kotler & Michael Porter, separately, proved how all innovations were ridiculously useless if they could not add substantial value to the consumer! And then Jack Welch happened to this big bad world of corporate achievements; a man who blasted away all past held notions of innovation, a visionary who redefined the definition of vision itself, a corporate leviathan who brought in the most compelling logic of ‘innovating’ & ‘destroying’ with one pristine objective – maximizing shareholders’ wealth! With such varied exposures & disparate judgements, 4Ps & ICMR bring to you the aggregate of what India can boast of as her most “innovative” companies; 25 of them!

For Complete IIPM - Article, Click on IIPM-Editorial Link

Source:- IIPM-Business and Economy, Initiative:- Prof. Arindam Chaudhuri - 2006

More IIPM-News:-

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Rashmi Bansal Publisher Of JAMMAG Magazine Caught Red-Handed, for details click on the following links:-

• Hindustan Times Article - Publisher goes underground
• Rashmi Bansal (Editor of JAMMAG)
• Rashmi Bansal (Publisher of JAMMAG)