INNOVATION SUMMIT -2010 REPORT


We at ITM UNIVERSE believe that Innovation will unleash the productivity and economic growth needed to achieve target growth rate of Indian economy and will help us to grapple and attend many of the grand challenges facing India and the world.
Keeping this in view, the Faculty of Management Studies, ITM UNIVERSE organized an INNOVATION SUMMIT-2010 on April 2-3, 2010 (first time in M.P.) that offered a platform where innovation practitioners from different walks of life shared their insights and experiences with people from different cross sections of the society. The Summit focused on institutional changes strategies and setting the scene for India's upcoming knowledge of economy and Innovation. This summit had sensitized and enriched the participants regarding issues and challenges relevant to development of India's knowledge and innovation economy.
The Eminent speakers invited in the Summit include Mr. Jean-Bernard PRUDHOMME, Vice President, Manufacturing and Logistics. Total Vinergy Bitumen India Pvt. Ltd. , Dr. Chandan Chowdhury, CEO, IFS India, Dr. M.N. Buch, IAS (Retd.) Chairman, National Centre for Human Settlements and Environment at Bhopal, Sanjay V Kavathalkar, Vice President: Corporate HR Jubilant Organosys Ltd., Mr. Nageen Sharma, Founder Chairman, Global Career Education, California, USA, Mr. Amit Agarwala, CEO and Chief Architect , Amdale Software Technologies Pvt. Ltd., Gurgaon.

The Speakers shared their insights and experiences on different Topics:

Mr. Jean- Bernard shared that Business could resort to Innovation in Manufacturing for several reasons. The approach to innovation could be either proactive or reactive . In addition to productivity and quality gains, innovation also results in improved responsiveness to customer demand, lower turnaround times, reduced waste levels and downtime, higher product quality, better designed products, capacity for a wider product range, streamlined relationships with suppliers and customers. Concerning above, the implementation key innovations in manufacturing and a look at how successfully companies have reacted to these practices.

Dr. Chandan Chowdhury focused on "IT Enabled Business Applications for Energy sector" In this management concerns related to energy sector have been discussed. Two case studies were also discussed from different countries to illustrate the benefits and process of implementation of such IT enabled Management Solutions. He also discussed on "Increasing war readiness using IT as an enabling technology". The objective of this topic was to create urgency among appropriate authorities in the govt, and services to initiate IT driven improvement initiatives in defense manufacturing organizations and services (Air force, Navy and Army).

Dr. M.N. Buch shared his insight on "Successfully Handling Innovations within the Domain of Administration in Public Sector" He shared that there have been some fundamental changes in the working of govt. which have resulted in major and visible management innovations in the organizational structures and systems of govt. aimed at delivering greater efficiency, and more responsive and flexible public services. The innovations have led to the New Public Administration.
Sanjay V Kavathalkar shared the implementation of innovation in HR process, Indian corporates often say that their growth is affected by the lack of people and must therefore take an innovative approach to recruitment practices, and retention strategies. HR professionals should be strategists and not technicians, They should "Have a dream; be curious; learn; try; and invent in the area of HR,".

Mr. Nageen Sharma shared thoughts on how big companies and startups have tackled the challenges of Innovation in the semiconductor, computer, and software industry- and why some have succeeded, and others failed. The session provided real world examples in the fast paced Silicon Valley companies challenged with developing technology just to remain relevant- or become extinct.

Mr. Amit Agarwala discussed on "The Great Indian Opportunity: Inclusive & participative Growth" He shared that The markets in India & world are altered forever; the financial crises of the last couple of years only expedited the changed. We all know metros are overcrowded, both from population as well as business opportunities perspectives. There is a big Question , where will next wave of growth come from that you can leverage in your careers? The answer lie in mostly unexplored markets- I believe that lower , urban rural sectors will contribute significantly