August 10, 2016

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Institutionalized innovation- key growth driver in New Age Management

As the business landscape is undergoing a transformation in the modern, uncertain market scenario, businesses that innovate their management strategies are the best equipped to combat future challenges, and gain and maintain leadership. Institutionalized innovation can be achieved by harnessing the often-neglected source of innovation – the employee base of an organization. By identifying this key resource and designing work environment and processes conducive for innovation, HCL has institutionalized innovation and achieved the leading position in the industry-India’s 8th best employer. Through a commitment to take relationships beyond the contract, HCL establishes lasting partnerships with its clients and builds the foundation for co-innovation. In addition to path-breaking initiatives, such as ‘Employees First, Customer Second’ and ‘Ideapreneurship’, HCL also provides Gen 2.0 propositions, different from the traditional IT propositions, HCL continues to provide maximum customer delight.

Most of the businesses today implement known business models for their operating divisions. They have an established framework of processes and strategies, with set job specifications, revenue goals and margin goals. Based on known conditions, they develop forecasts. Known business models are also used as tools for continuous improvement in the existing models and processes. However, in this world of inevitable and unrelenting change, merely improving the existing business models do not equate to long-term business growth and success. Neither operational excellence, breakthroughs in technology nor new business models can help organizations achieve this. Reinventing management, with adaptability and creativity as the key drivers of success is the need of the hour. Businesses need to innovate new ways to organize, create value, lead and inspire, to be able to etch out new performance benchmarks and build enduring advantages. For effective innovation, a change in the environment, culture and processes is required. Organizations should create an atmosphere that is conducive to successful innovation through new ways of mobilizing talent, allocating resources and strategies.

At HCL, innovation is a way of life, a part of our DNA. Innovation is how we function. Since inception, we have looked at ways to revolutionize through technology, thus witnessing a phenomenal transformation, with employees leading the change. Our work culture and processes are friendlier to innovation, where every employee is empowered to think out of the box and innovate, leading to a conscious and focused effort for new perspectives and ideas. Institutionalized innovation by exploiting the untapped resource potential of an organization can therefore prepare organizations for the next generation management.