The bean-counting types see innovation in cash flows: reducing receivables or increasing credit periods, for instance. And the more cerebral among them call for business model innovations: ingenious tweaks or overhauls of the way business is done so that it yields more.
Much before innovation became the buzzword it is today, Business Today tracked it with the rigour it deserves. In our first special issue on innovation, which featured a study partnering consultancy firm, Monitor Group, in April 2008, we identified 28 companies that "did things differently".
One no longer exists (Air Deccan was bought in a fire sale), another has new owners (Ranbaxy), and Jet Airways is hobbling along. Barring these, the remaining are doing reasonably to spectacularly well. (Check out who else made it to the list)
This year, we decided to look at the best innovation cases the world over, and filter them through the world view of Indian business leaders for a relevance check for India.
We are sure that at least some, if not all, the case studies will resonate with your business or throw up what B-school professors call 'analogs' (replicable examples, basically) for your workplace. Happy innovating.
Best innovation cases