Good to Great and then the End

Dears,

When I look around and see the once great companies sliding and they hardly have nothing to sustain, it shows how important is to keep up the Innovation quotient in an organization. The inspiration for this article has come from an interesting hypothesis by name Technology mudslide. What makes an individual or organization a great innovator? If you are at Harvard, it’s not a single person that makes you better, it’s the System.  The innovation is a function of a model which enables you to dream, imagine, feel excited and be passionate about your idea. The organization failed to innovate when the people in the top management distance themselves far away from Innovation (R&D). The top guns should have a direct link to the people behind new ideas and innovation. Any organization no matter how small or prosaic its business can make the grassroots transformation if it really wants to. The best creating thinking happens on a company’s front lines. The next level leaders are the Innovation catalysts and the sphere around them watching them grow and achieve are the Innovation Sponsors/Leaders.

There are 2 types of innovation paths Sustained and Disruptive innovations. The sustained innovations are the improvements to the current technology that continuous to improve the service/product performance. Disruptive innovation is challenging the current service /product performance and bound to create new uses, new markets and disrupts the current technology. Today every organization requires continuous innovation to survive.

Nokia has sold three million units of its Lumina phone since October 2011. That may sound quite good, but over the same period Apple sold over 72 million iPhones and Nokia is going through its 4.9 billion euros cash mountain at a pretty scary pace. It blew 2.1 billion euros over the last five quarters and few weeks back announced 10,000 job cuts, but that may well be insufficient.

All is not lost. There is talk of a new operating system called Tizen that involves Nokia technology that may rival Android. But the truth is that Nokia suffers from what’s called innovators’ dilemma. To put it in other terms, it is what Clayton M Christensen called the “technology mudslide hypothesis.” In his model, established companies in a position of market dominance reinforce their position of strength through their specialization, but when a new so-called disruptive technology emerges, they miss it. They get relegated to backwaters or go out of business.

Christensen himself took the disc drive industry as an example, and looked at every major change – for example from 14 inch disk drives used for mainframes to 8 inch   inches for mini computers, 5.25 inches with the emergence of  PCs and then 3.5 inch as laptops were developed. He showed that with the emergence of a new disc drive standard, there was a change in market leadership; previously dominant players started doing impersonations.

What is especially interesting about the Christensen study is that the companies themselves were often aware of the danger, researched the new burgeoning technology, but their existent client base showed no interest, urged them to stick to what they already knew.Nokia faces in its own innovators’ dilemma, but so too do the other Industry giants.

After all, they do say that “mud sticks” but for how long?

At its core of this hypothesis is about how successful, well-led companies carefully pay attention to what customers need. These same companies invest heavily in new technologies, delivering more performance to those clients but will still lose their market leadership suddenly.

This can happen when disruptive technologies enter the arena. Most technologies improve the performance of existing products in relation to the criteria which existing customers have always used. These technologies are called sustaining technologies. Whereas, disruptive technologies do something different. They create a completely new value proposition. This will often entail worse product performance per se, but improved product performance in relation to new criteria; for example:

• smaller ( handy )
• more user friendly (convergence of phones and video streaming cameras)
• Cheaper (storage devices).

That is to say…

1. Customers and investors will dictate their resource allocation; i.e. middle managers will tend not to invest in technologies that are not directly appreciated by significant clients because they will not be able to get the quick ROI that investors require.

2. Small markets cannot fulfill the growth need of large companies. Bigger, more successful companies will look at smaller niche and emerging markets (full of those early adopters and pragmatists) as simply not large enough to fulfill growth requirements.

3. Markets that do not exist cannot be analyzed. Well-governed businesses will discount such opportunities for the risk of likely failure.

4. Technology supply does not always equal the market demand. Due to its speed, technological progress often overshoots customer demand. This opens the door to products today that underperform the market, but which might meet customer demand tomorrow, particularly when delivered as a new value proposition.

Success breeds failure &   Innovation is the oxygen that keeps the Organization growing.

Your P&C

DC*

Mid-Career Crisis Musings

Dears,

Life is good but I find it harder, if this the thought that comes to you often and you are for sure going through the Mid-career crisis. You suddenly feel professionally and emotionally stagnant. There's no challenge left for you at work. If you are one of those people who are struggling to make mid-career transition, take a deep breath and look around. After a certain point in your career, you need to do some amount of introspection to find out your deeper aspirations. 

Try and figure out where are you headed, do you know yourself well enough. I find mid-carrier crisis to be a very common problem in companies today.  The super ambitious few who want to go all the way to the top will usually get the attention they need and get what they want.  Then you have ambitious employees that not always are aiming for top-management positions, but want to work in a demanding and meaningful job applicable to their education and experience. But too often, those persons don´t get the attention of management and leaders, and they tend to find them self in a stagnant job and not getting any attention or getting involved in exciting projects in the company. Then looking at new employees arriving, and making progress in the company adds to the frustration.  It becomes a catch 22, where the employee becomes more and more de-motivated, and thus receiving less attention from managers.  .  The leaders sometimes focus only on the super ambitious and those who are climbing the ladder, while not paying attention to skilled employees in the level below.  By doing so, they can usually find invaluable knowledge and experience for the good of their corporation.

 Ask yourself a series of questions like, what are my unique gifts? What is my 'calling? ‘What can I do to make my present work and life more aligned with my calling? What are the competencies I would like to develop in myself? "Asking questions will help you to get a clarity on where do you stand and where are you headed.

 Many a time’s people don't understand that not leveraging their talent to the best level may lead to frustration. They may think they are capable of a bigger role and responsibility, but don't take measures to communicate this to the top management or to the next level. Communicating to large extent means taking initiatives and showing results. Unless that happens, you stare from a distance and think you are being deprived of a bigger role. Think hard: How can I leverage my talent to develop these competencies?

What specific steps would I like to take? How will I know that I am making progress? What could go wrong and how do I take responsibility for what could go wrong? Think what options lie outside the present environment that can offer you those challenges you are looking for. Should such a crisis arise, intensify your networking efforts. Talk to people even if they are outside your social circle. Strangers can often guide you better with their dispassionate opinion. And help you understand where you're headed better providing fresh ideas uncolored by your previous self. Build new connections by associating with people you've long admired and can learn from. Use alumni and company networks that can help you grow into your possible new selves.

Any good leader knows to surround themselves with talented people, but recognizing the future leaders who will generate change and innovation is a task rarely considered. It is from mid-career employees that the next generation of leaders will emerge. Forming relationships with these employees will allow a leader to acknowledge and reward talent, as well as identify, train, and develop talent for the future of the organization. To enhance the value and commitment of mid-career talent, leaders need to work at building their relationships and commitments to these employees, which means more frequent and visible interactions that affirm the interdependency of organizational goals and individual career aspirations.

If there is a lack of a competitive environment, and your peer group is not strong enough to challenge your competencies, you may lose interest and may feel like living the organization. Challenges and competition and the hunger to learn is what keep people going, if you are deprived of that, it’s time to get serious about it. Go ahead with whatever you feel is right after giving it a careful thought, avoid desperation. If you've lived with this so far, a few months more won't do any further damage.

 Even if you fail you'll have the satisfaction of having tried what you felt. If things go right, you are one of the fortunate ones who transitioned to the right path.

Loving P&C

DC*

Our Oracle Collaborate 2012 experience

Dears,

It gives me immense pleasure to share our experience during Oracle Collaborate 2012.  So what is this event all about?  Collaborate is ONE event that delivers the full spectrum of Oracle Technology and Applications education that you need to boost results and drive efficiency all year long . What collaborate offer is the Technology and Applications Forum for the Oracle Community that is  brought to you by three leading users groups– the Independent Oracle Users Group (IOUG), the Oracle Applications Users Group (OAUG) and Quest International Users Group (Quest).You also get an opportunity to connect  with a global network of more than 3,000 business applications and database software users, solutions providers, consultants, developers and representatives from Oracle Corporation to share real-world experiences, participate in top-quality training and gain insights to obtain greater value from your technology investments .The COLLABORATE 12 — OAUG Forum is designed for and by users to deliver dynamic sessions featuring tips, techniques and best practices for:

•Oracle Fusion: Implementations, case studies, navigating the differences between Fusion and your current environment
•E-Business Suite (R12): Application roadmaps, upgrade tips, case studies and useful methodology; information to help with reimplementation vs. upgrade decisions; 11i to R12 decision-making
•EPM, OBIEE and Hyperion: Introduction to Oracle financials; how to use HCA; taking EPM to new levels with Oracle Hyperion Data Relationship
•The latest insights on the Siebel and PeopleSoft product families.

We are fortunate to have 4 papers from Hitachi Consulting GDC were chosen by Oracle product experts to present in the collaborate forum.

Session Details	Speakers
Is Cross-Docking A Viable Option In Distribution Requirement Planning (DRP) Setup?	Phani Tamarapalli
Oracle Process Manufacturing(OPM) 12 Upgrade in a Complex Global Environment	Rajender Yaski
Oracle Customer Hub Data Stewardship; Data Governance Best Practices	Dinesh Chandrasekar
Oracle R12 Upgrade –Executive Session	Samir Rathore

These sessions were well received and we could get a very positive response from the attendees and aroused healthy discussion on the topics during the session. The collaborate is not just about presentations and demos, It’s also about networking, picking some cool stuffs from exhibitor and cooling your heals in casinos and responsible drinking bars. The more important aspect is you will get to know how the likeminded individual and corporate planning their year ahead, what are their priorities, focus area, marketing wiz plan. There are also good number fun events in some exhibitor’s booth. We also had the privilege of our customers accompanying us for the dinner and got to meet some IT Stalwarts from our HCC US office.

Overall COLLABORATE 2012 was AMAZING! All in all, a wonderful learning opportunity and a chance to get some new perspectives on how to handle/accomplish our objectives. Well done! This was my second COLLABORATE experience. I felt my time was well spent and that I derived much of value from the experience

DC*

TechGiG Webinar : Master Data Management Data Governance Leadership and Best Practices

MDM Data Governance  Best Practices

Dears,


This is an  invitation and also reference site for of my webinar with TechGiG ,  Times of India IT initiative


http://www.techgig.com/webinars/Master-Data-Management-Data-Governance-Leadership-and-Best-Practices-143

The maturity of seeing MDM as a strategic project and not as IT Project is one of the lessons learned by big enterprises after they suffered heavy losses due to poor data quality and data governance initiatives but still today there is a huge debate about what they want to achieve with data governance program.

Data governance suffers a bit from the "chicken or the egg “syndrome. People at your company aren't going to understand what data governance is and what it can do for them until they actually see the results. However, getting the initiative funded and launched will only happen if you can convince your company of the tangible benefits of data governance. This webinar will provide the right insight for you to understand the significance of Data Governance and there is huge potential opportunity for the DG Specialist.
 
In this webinar, you will understand:

•     Defining Data Governance & Data Stewardship
•     Challenges in justifying the Data Governance initiative
•     Top Drivers for Data Governance Initiative
•     Data governance framework & Best practice
•     Big Data and Data Governance Leadership
•     Live Examples
•     Live Q&A with the Speaker

Loving P&C

DC*

Practice Leadership

Practice Leadership

“You’re the best!”  The two of our colleagues cried to their practice lead after narrowly winning the deal over the competition. “We couldn’t have done it without you! “ As they celebrated, I couldn’t help but notice that their coach was the same person who was pushing them to do their best in the pursuit and demanding to bring the best out of the information they have to showcase and delight the client with our extraordinary capabilities to deliver that project. The practice leader is the one who is extremely focused in achieving excellence and tries to bring the best out of all the odds. .  If you're young and ambitious and driven, don't run from the challenge, run towards it. If you're terrified of a star manager in your organization, go find a project to do with him or her. Cram as much learning as you can into the front end of your career. You may not love it while you're going through it, but you'll carry that learning and success with you as you move up the ladder. Today ,when we embark on the CoP (Communities of Practice) initiative I would like to roll the crystal ball and see what we would benefit if we do this right.

A well-coached, coordinated team would be able to achieve any (or all) of the following possible benefits:

1.       More effective practice development efforts through pooling and coordination of individual efforts

2.       Better utilization and development of professionals through collective decisions on staffing of client work, allocation of resources and mentoring

3.       Collective development of tools, templates, IPs and other practice aids to benefit everyone

4.       More rapid and effective dissemination of expertise and skills among the group

5.       Better client service through greater ability to put the right people on the right job

6.       Better market image through development of a collective reputation, not just the sum of individual reputations

7.       Comfort of “belonging” to a small group rather than being “lost” as one member of a very large group of professionals

8.       Informal coaching on a “one-on-one” basis acting as a source of help for personal growth rather than relying only on annual  performance appraisals

9.       Improved profitability from focusing as a group on ways to enhance billing rates and leverage

10.   Critical mass of time and resources created to develop innovative service offerings, which no individual could afford to do alone

The success of CoP depends how truly we are prepared to act as a team and not as a loosely affiliated group of independent practitioners. They must make an informed, conscious decision to give up a few degrees of autonomy in exchange for the benefits listed above. Naturally, the precise role of the practice lead will derive directly from the objectives chosen for the group. However, there are certain key choices that must be made in any circumstance. For example, is the practice lead expected to do any or all of the following?

1.       Spend time with individual professionals (senior or junior), serving as lead to help them develop themselves and their practice

2.       Be knowledgeable about the development of r professionals and intervene (delicately) to “suggest” reassignments between projects in order to build skills and advance their careers

3.       Be in touch with clients of other professionals in the group to help the professional to grow the relationship, to monitor client satisfaction and to act as a “conscience” so everyone can excel at client satisfaction

4.       Monitor the profitability of assignments conducted by members of the group and discuss the results with them

5.       Devise methodologies to capture and share knowledge acquired while serving clients both within the group and across the firm

6.       Spend time recruiting and interviewing potential new staff (junior and senior)

7.       Spend time following up and actively helping members of the group execute their planned activities

8.       Initiate and run regular meetings of practice group members to collectively plan the group’s activities and initiatives for the coming quarter

The next essential component of the practice leadership is that how credibly we convey to our professionals that activities conducted during nonbillable time are valued, monitored and considered as an essential part of their performance. Much of what practice groups do, and what practice leads try to get their team members to do, involves investment of nonbillable time in activities that build the future of the practice. Obvious examples include various kinds of innovation, development of tools, conducting training programs and so on

Communities of Practice are undeniably powerful, but it is equally a radical change of mindset for many of us. Done properly, it can bring not only greater success but also enhancing collegiality, mutual support and a winner in all of us.

 Loving P&C

DC*

Chicken Soup for the CRM Soul (Tech Gig Webinar)

Dears,


I welcome you to join this webinar @ Techgig portal , A Times Group Initiative to spread the awareness on variety of niche technology topics. Please click on this link to join this webinar.


http://www.techgig.com/webinar.php?webinar_id=121

The slide share link to access the webinar presentation

http://www.slideshare.net/dinwin/chicken-soup-for-the-crm-soul-dc


What you will learn in this webinar:

In this era of uncertainty, economic turbulence and battle for the customer wallet share, the only way to survive and excel is to gain the customer acceptance and enrich their experience. However, the fundamental business needs that drive the requirement for effective and efficient customer interaction management have not changed: acquiring new customers, building tighter bonds of loyalty, and reducing the costs of marketing, selling, and servicing. Although many CRM technology projects were deferred or cancelled in the last few years, as per Forrester wave 2010 organizations of all sizes are now investing again to improve the customer management capabilities they’ve neglected during the past 18 months. If you are a business process leader in a large organization, you’re challenged to pick the best CRM solutions to enable your company to capitalize on the upturn.

To give the much needed boost to the industries and IT professionals understanding the CRM strategies are vital. We will  explore some of the key drivers

·         CRM evolves into the extended CRM application ecosystem

·         Customer Experience Optimization (CEO)

·         SaaS CRM revolution

·         Integrated Enterprise Solution approach

·         Managing the Digital Consumer & Social Network impact

·         Customer Managed Relationship  & Loyalty 

The Questions you will find answers to.

·         How CRM is the game changer for the organizations in this decade of uncertainty?

·         How to leverage the Extended CRM solutions to energize the company and revamp the old CRM system to perform better?

·         What is the impact of Cloud CRM and how it is revolutionizing the CRM landscape?

·         How to avoid pitfalls in the CRM project execution?

·         How to keep pace with digital consumers and enable customer managed relationship with effective CRM Strategies?

·         Our Case studies & Best practices from Hitachi Consulting  CRM engagements 

Look forward to meet you in the webinar. 

Your P&C

DC*

Book Review : " The Steve Jobs way, iLeadership for the new generation"

Book Review of “The Steve Jobs way, iLeadership for the new generation"


You can download the presentation from the following link
http://www.slideshare.net/dinwin/book-review-the-steve-jobs-way-by-dinesh-chandrasekar

Steve Jobs is as much an icon of the information age as the iMacs, iPods, iPads and iPhones that his company has been launching ever so frequently in recent years. He is also a controversial entrepreneur

and both authorized and unauthorized biographies of the Buddhist business magnate and inventor are aplenty. But Jay Elliot, author of The Steve Jobs Way: iLeadership for a new generation, is perhaps one of the closest associates of the founder and CEO of one of the most outstanding companies in history to have written a book on him. Mr. Elliot, who worked with Mr. Jobs as senior vice-president of Apple, leverages his ‘deep insider perspective’ of his boss’s ‘singular iLeadership style', encompassing four major principles: product, talent, organisation and marketing.

The author first met his future boss, ‘the hippie-looking, twenty something in jeans and sneakers’ in the waiting area of a restaurant, days after chucking his job with Intel. “But we quickly discovered a shared passion for computers,” says Mr. Elliot. “The guy was a fire-eater, bursting with energy, lighting up at the idea that I had held key positions in technology but had left IBM when I found them slow to accept new ideas.” The book is full of interesting anecdotes relating to Mr. Jobs, his interactions with his colleagues, the big fights he had with some top executives, including John Sculley, the former PepsiCo president, who replaced him as the CEO following a painful power struggle in the mid- 1980s. But the ‘Sculley era’ saw the decline of Apple, leading one international magazine to label Mr. Sculley as “the 14th worst American CEO of all time”.

Mr. Elliot recalls an Apple worldwide sales meet at a hotel on Waikiki beach in Hawaii after the Macintosh launch. “The event was a stunning success, but it didn’t go unnoticed that John and Steve seemed to have spent almost their entire time at the conference without speaking to each other,” he writes. Mr. Jobs, according to the author, was frustrated that he could not convince Mr. Sculley that his plans — of, for instance, hiring a new in-house sales force of 2,500 people to sell the Macintosh to businesses —were taking Apple in the wrong direction. “At the dinner the first night in Hawaii, the two had a big blow-up; it was like a public announcement that they were no longer the joined-at-the-hip buddies they had been in the early months after John’s arrival.” For the fans of this innovative entrepreneur, the book has a lot of interesting details about the man who continues to remain an enigma. Days before the launch of the Mac, Mr. Jobs walked in one day for a demo and wasn’t happy with the noise that the fan generated. Personal computers, in those early days, had fans which made a

lot of noise. But the Apple boss wanted the Macintosh to be completely silent. The entire organisation, including engineers and technologists disagreed with him, but Mr. Jobs insisted the Mac would not be launched if it was noisy. The launch was delayed by five months, as the engineers went back and redesigned the Mac, ensuring that it was silent. Mr. Jobs had been right in principle, but he learnt a valuable lesson: Details matter, it’s worth waiting to get it right, but there are times when you have to weigh the benefit of getting it right against the cost of being late to the market. Mr. Elliot notes that Mr. Jobs is one of those people who keep reinventing themselves. It is not that the Apple CEO himself changed, but his vision had changed over the years. For instance, while the Mac was ‘first-generation Steve’, and other products that followed before the iPhone and the iPad also reflected Mr. Jobs as the creator of products that caught the public imagination, today his focus is on content. The Apple CEO has envisioned a world in which content is king and the Apple of the future will become a company that puts devices that deliver content in the hands of consumers. For a man who has been described as “Harvard’s most successful dropout,” Mr. Jobs has remade three industries and transformed the way we create, consume and communicate with each other. The author shares the lessons that come out of Mr. Jobs’ intuitive approach to show how the creative and technological brilliance of iLeadership can be utilized

to drive breakthroughs in any organisation, irrespective of size.

One such instance is the way Steve Jobs always believes in hiring the best or the ‘A’ people, as he calls them. For the Apple boss, an employee’s true worth is his talent and passion, not necessarily the educational and technical qualifications. Not surprising for someone who dropped out of college in pursuit of his passion. The fast-paced book reveals the ‘real’ Steve Jobs, who has over the past three decades transformed technology.

Loving P&C

DC*

The Leaves of Innovation

Dears,

The world is lot better every day with innovations. I call this article as leaves of innovation simply to say innovation is continuous process and leaves will fall and new ones will come up but every leaf serves its purpose to make the tree (corporations) stronger and helps to survive the seasons. The innovation distinguishes between leader and a follower. What is innovation? To me it is reinventing the self and organization to make something better for the world. Look at some of the yesteryear great corporations, some of them survived and many of them couldn’t stand a chance to comeback and they have nothing new to offer. The scenario is very much the same for the today’s successful corporation and this law of karma will never change. You will start dying, the moment you stop innovating. I want to you walk through some of the great innovations and best practices followed by the corporate game changers.

3M, the Master of Innovation

3M has specific metrics to measure innovation performance

·         30% of sales must be generated by products launched within last 4 years

·         10% by products launched in last year

·         Number of patents awarded.

Culture of innovation generates enormous satisfaction for those who work at 3M.  Culture of innovation is backed up by a culture of communication.  There is an unwritten rule that allows employees to spend 15% of their time on a project of their own invention.  There is acceptance of a high failure rate – 90% of ideas fail at one of the various gateposts before reaching status of formal project.  Key is to spot losers early.  Tolerance and delegation are critical. 

Wal-Mart’s ETDT & Cross Docking

Wal-Mart’s ETDT Committee which meets monthly to review processes and ensure that outdated ones are removed from the company manual. They call this ETDT – Eliminate the Dumb Things. Wal-Mart pioneered a great many innovations how it purchased and distributed goods. One of the best known of these is cross-docking, in which goods trucked to a distribution center from suppliers are immediately transferred to trucks bound for stores without ever being placed into storage. Cross-docking and companion innovations led to lower inventory levels and lower operating costs, which Wal-Mart –translated into lower prices.

Sun Microsystems’s Afternoon session

On the last Friday of every month the innovation unit of the company stops work for the afternoon to join in a stimulus sessions involving something people would never normally do.  The aim is to structure some freshness into the work place to break patterns

Electronic Arts

EA’s recruiting process involves not asking for a resume when people click through to web site but for answers to a few basic questions - type of work they are looking for, interests, experience and where they live.  If there is no current fit, EA asks whether candidate would like to receive future correspondence – strategic updates, notification of new openings.  (Roughly 60% have said yes).  EA have also built up a top 40 list of the most talented people in the world who, EA hopes, will someday work with the company.

Harley Davidson

Harley owners group boasts 450,000 members and sponsors an annual rally where the tattoo contest is one of the most keenly followed events.  As the company says “it’s one thing for people to buy your products.  It’s another for them to tattoo your name on their bodies.

Proflowers.com

During peak demand periods – Valentine’s Day, Mothers Day – rather than bring in temporary employees everybody gets involved in customer service.  As well as avoiding morale problems it helps everyone to feel the customer.  Everyone gets trained in customer service, even the programmers.  And the front-line experience helps them be more customer-sensitive in their everyday jobs.

Loud Cloud

The senior mgt of the company always keeps a list of the 10 most serious threats to the company.  It’s called “Ten reasons why we are going out of business”.  It builds up what seems like paranoia but is really clear-eyed objectivity. They keep a close eye on those 10 items.

GE’s Strategic Planning

Rather than a plan that can be beaten, GE operates a stretch environment with teams producing “operating plans” that reflect their dreams – the highest numbers they think they have a shot at.  Discussion revolves around new directions and growth.  Everyone leaves with a good idea of what the business will do and what the team will try to do.  And an operating plan is drafted to reflect that reality.  The team knows that it will be measured against prior year and relative performance against competitors, not against a negotiated internal number.

Ford’s Customer Experience

The Chief Customer Experience of Ford says “To see how we can improve our customer satisfaction we often ask two dozen or so customers to come in and bring their cars with them. The chief engineers, the product planners and I join them and ask each customer why they bought the car. What did you like about it? What don’t you like about it? What would you improve? This really helps us identify things our people wouldn’t have thought of. 

Gillette’s Razor Technologies

Consider Gillette’s sophisticated management of its innovation pipeline. Over the past 35 years, the company has parlayed its unparalleled understanding of men’s grooming needs to drive the development and mass adoption of successive razor technologies…Today, Gillette dominates its market, with more than a 60% dollar-market share in North America across its portfolio. Given its strong position in the category, Gillette has to be extremely thoughtful about the timing and strategy for each new product launch so it can grow the category while minimizing cannibalization of existing product sales. Since the introduction of its trendsetting Trac II, the company has rolled out a series of increasingly advanced razors, including the Atra, SensorExcel, Mach3Turbo, and M3Power, each of which outperformed its predecessor. For each of these innovative new products, the company’s elaborate revenue projections include detailed analyses of revenue sources and, crucially, the potential effect of these new products on existing product revenue streams

Samsung

Korean consumer-electronics giant Samsung offers another example of a shrewdly managed innovation pipeline and marketing machine. Five years ago, Samsung bet the ranch on digital technology and transformed itself from a middling manufacturer of analog televisions into one of the leading consumer electronics companies in the world. Samsung’s 25,000 scientists are charged with translating insights gleaned from the company’s massive customer research programs into a flow of new product concepts that can be moved from the drawing board commercialization in less than five months. From among to these innovations, the chief marketing officer selects and most likely to win in the marketplace and is given additional marketing dollars to back them.

Toyota’s Open Door

Toyota has confidently opened its factories to visitors from other automakers and yet continues to expand its productivity lead. 

The Innovation is not always about some great products and generation next technologies it is also about how do we make things better today and keep changing for the best future. Innovation has to be seen as way of work and way of living than to push people to innovate just for the sake of it.  Mind is like a parachute it works only when it is open and Innovation requires open minds first and health work environment to create some newer stuff.

Cheers

DC*