Creative Destruction and Global Innovation!

IIPM MANAGEMENT INSTITUTE

When change is a must, global behemoths must be ready with one tool – innovation!

Innovation is the specific function of entrepreneurship, whether in an existing business, a public service institution, or a new venture started by a lone individual in the family kitchen. – Peter Drucker

The five essential entrepreneurial skills for success are concentration, is crimination, organization, innovation and communication. – Michael Faraday,

Austrian economist Joseph Schumpeter (1883–1950), long associated with entrepreneurship and innovation, is credited with the first use of the term 'creative destruction' to describe free market capitalism. In his view entrepreneurial innovation is the force that makes long-term economic growth possible even as it destroys the value of established companies.

No one will disagree that innovation is essential to a business’s success, whether it is an established business or new one. And it is not difficult to see that innovative businesses directly affect a nation’s current and future economic well-being. "Innovation will be the single most important factor in determining (a country’s) success in the 21st century. Where once we optimized our organisations for efficiency and quality, now we must optimise our entire society for innovation.” [US Council on Competitiveness] Is it possible to measure the innovativeness of a country? The INSEAD business school in Fontainebleau, France, thinks so.

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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)

A saga of stake and sedan!

IIPM PUBLICATION

Maruti Udyog Limited (MUL) is definitely making heads turn in the market. Be it the launch of its long awaited sedan, Suzuki SX4, or the decision of government to sell its remaining 10.27% stake (for Rs.22.5 billion) in the company; India's leading car manufacturer is making its presence felt in the market and that too in style!

After the successful launch of the Zen Estilo and the launch of the diesel version of its Swift Model, Maruti has strategically launched the Suzuki SX4 to induce competition in the highly competitive A3 segment, which already boasts of cars like Hyundai Verna, Honda City, Ford Fiesta and Mahindra Renault. This launch also marks the transition of Maruti from being a leading small-car manufacturer to that of a complete car maker. Even before introducing the SX4 in Japan and Europe, MUL rolled out this bold, muscular and feature-packed car, powered by the global M-series engine, highlighting the increasing importance of Indian market in the world.

Jagdish Khattar, Managing Director & CEO, MUL said, “SX4 sedan is just the right car with which MUL can reinforce its presence in the A3 segment and enhance its leadership.” Not only this, the company has also revealed that it will soon expose the revamped version of its Sports Utility Vehicle (SUV) – the Grand Vitara in India. The refurbished version of the new Vitara will be a 5-seater SUV, with a 2-litre petrol engine and also having a competitive pricing range of Rs.1.6 million to Rs.1.7 million. Well, Maruti definitely seems to be in the top gear!

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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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)