XIMB Hosts National Seminar on Operational Innovation

XIMB Hosts National Seminar on Operational Innovation - "Ashwamedh 2007"

Participating in the discussion, Sree Kumar Krishnan, Head, F&A Horizontal, Cognizant, said, "Though operational innovation is extremely important as it is going to provide lead to the organization but it is pretty hard to pull off. There are many things, which have remained undefined in the case of operational innovation."

Elaborating on the objective of operational innovation, he said, "The objective should be based on IRACIS - improve revenue, avoid cost and improve service."

The speakers agreed that the size of an industry is irrelevant as several big and small organizations have adopted this at workshop successfully. This defy the popular saying in the corporate - 'Elephant can't dance'.

Talking about how to apply operational innovation, Mr. Krishnan said, "There are four simple ways to apply - look for role model outside your industry, identify & defy constraint assumptions, make special case as norm and rethinking the critical dimension of work. There are four pitfalls of operational innovations namely - measuring innovation, research & development, linking rewards to innovation and top line focus of the company," said Mr. Krishnan. But he suggested that measuring the performance and innovation through matrix or balance scorecards methods used popularly by the human resource managers is not the correct approach because middle managers tend to game it.

Dignitaries from Corporate World Particpating in Ashwamedh '07 at XIMB

The panel of discussion also included Vikram Mahidhar, Head - R&D, Deloitte India Operations, Venkata Reddy, VP - Supply Chain, PepsiCo and Pinaki Banerjee - Managing Director, Pilkington and an XIMB alumnus.

The evening also saw the release of the Ashwamedh Journal. The journal primarily included eight research papers, which were selected from a national paper writing competition that was a precursor to Ashwamedh 2007. The competition has received a huge response from across the country with about 130 entries coming in from business schools including IIMs, XLRI, ISB, FMS, SCMHRD, XIMB et al. The journal would be circulated to both the corporate and all the major business schools in India.

Concluded.

Contributed by -
Team Illuminatix,
Media & PR Cell,
Xavier Institute of Management, Bhubaneswar.

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