‘Right mindset is what creates innovation’

It is not always essential to be first to be innovative, according to R. Gopalakrishnan, Director of Tata Sons. Delivering the first C K Prahalad Memorial lecture on “Innovation Culture: Myths, Reality Ideas”, he said that innovations such as electronic voting machines (which, he said, even countries such as the U.S. did not have) proved that ``making good your resources and the right mindset is what creates innovation’’. The lecture was presented by the Aspen Institute India, which promotes value-based leadership and open dialogue through cross-sector outreach. Management guru, teacher, thinker and visionary C K Prahalad was passionate in his belief of India’s inherent potential. Late Prahalad held the belief that innovation should focus on those at the bottom of the pyramid.

Building a culture

Drawing at times from the examples provided by his present organisation, the Tatas, and at times from Hindustan Unilever, where he spent 31 years of his 45-year career as a professional manger, Mr Gopalakrishnan said that the original innovators were often forgotten as only the winners were remembered. He cited the example of coconut oil made by the Tatas, and by Marico.

“Starbucks is an excellent example that innovation is also about turning activity into an extraordinary experience,” he said.

Big bet

Real life, he added, was not so much about a big bet but about small bets. “It is about building a culture and not so much a process”, Mr Gopalakrishnan said.