Making global innovation work for global companies – how local corporate culture can drive innovation in an emerging market
Egon Zehnder Information and Research Services, India
ACNielsen ORGMARG Pvt. Ltd., India
In this era of globalization, deregulation, increasing competition, new technologies and e-commerce, organizations have realized that innovation is essential to generate long-term stability, growth, shareholder wealth, sustainable performance, and remain at the leading edge of their industry.
Many companies, however, are unclear about how to “fit” innovation into the existing structure of the organization. Whether it is seen as a “way-of-life”, a “mindset”, or a distinctly planned and organized “activity”, Innovation today appears to be at a similar developmental stage as in the case of marketing when it began to emerge as a functional area more than thirty years ago. The concept of marketing appeared – like innovation now – as a new way to organize and orient business activities.