The Post-Recession Challenge of Innovation

Abstract

At a time when the world is still in a heads-down crisis mode, R Gopalakrishnan sees the global economy looking up and hesitantly bidding farewell to the bottom of markets. At such a juncture, it is a challenge for the managers to find answers to the contradictions arising in an economy in transition. The author tells the story of Tata—how it navigated the different waves of capability at different times and is now preparing itself for the phase after meltdown—with an increased focus on its innovative capabilities. First clarifying the concept of Innovation—as a programmed implementation of an invention—something that is difficult to replicate, the author talks about the different variations of innovations, and how the Tata group is trying to align its aspirations and create an architecture that would enable the realization of its innovation objectives, finally admitting that the ultimate goal should be to liberate the innovative gene inside a person and the organization. Our challenge is to build on the legacy of creativity, he concludes.