Preparedness for Innovation: An Indian Perspective

Abstract

The author makes a case to prove that innovation is the only way for the Indian companies to confront com petition. To be innovative, Indian companies have to continuously adapt to market demands and integrate innovation within the work culture to ensure their survival in the competitive global business environment. This calls for a cultural change. The paper explains the process of developing a diagnostic tool, and examines the innovation orientation of five companies. The findings highlight the significance of reorienting the strategic posture of Indian companies to be market-driven, and to build new capabilities for delivering superior customer values. Further, the paper highlights a few strategic initiatives Indian companies have to undertake to be innovative.

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