In my study of the Indian innovation scenario a few years ago, one of the serious gaps that emerged was the lack of innovation capacity in Indian firms. What I mean by this is not the ability to improvise as and when necessary à la jugaad, but the structures, processes and systems to run sustained innovation programmes.
In strategy, one of the dominant conceptual streams today is the “resource-based view of the firm”, which argues that strategy is all about the possession of difficult-to-imitate resources that create value for customers. Given this perspective, it is intriguing that, with a few well-known exceptions, Indian firms have not taken building innovation capabilities more seriously.
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image source: business.outlookindia.com
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