Innovations come from mixing existing ideas in new ways. Exercising the authority of the community and not of any individual to bring about change in the organisation, which will eventually lead to innovative ideas and solutions.
Lot of people talk about ideas that they learned in schools and colleges and/or text books – and people would tend to believe “Yes this works. This is the cornerstone of the business methods for developing and advancement of the organisation in various functional areas; and have a free and open debate about what is going to work logically”. One of the Principle on which business progress is social progress which is called Philosophy of Perpetual Transformation.
The philosophy of perpetual transformation has two elements.
a) First being to become a counterparty of choices – not only with clients but all other constituents – employees, partners, associates, communities, regulators and society. To be the best partner to all the constituents of the business. This is achieved by focusing not on how much money the organisation is making but how do we use our capabilities to create value for our constituents.
b) Secondly, we need to believe that however well we are doing as a company or however well we are performing as individual employees, if we are not improving fast enough than our competitors – both existing and potential competitors – we are not going to stay in business. Each one of us must be lifelong learners that are constantly searching for new and better ways to create value.
Using this philosophy – to enrich the company’s People, Process & Integrity – we are moving to create new tools, systems, processes and approaches to enable us and everyone in our constituents to better utilise our collective capabilities in creating value; and also to constantly improve and add to these capabilities which will then open ways for a new opportunity. This is thus an endless cycle of creative destruction of creating new opportunities and creating values.
We will keep a continual look at what innovations one might bring to the company that might pay off in the future. This entire process is based on an objective and subjective measures which needs to be directionally correct.