FMS, Delhi Organizes its 34th Annual Convention on Knowledge and Innovation

FMS, Delhi Organizes its 34th Annual Convention on Knowledge and Innovation

Mr. Agrawal, focused more on the use of technical tool and benchmarks such as 'Kaizen', 'Six-Sigma' to streamline the processes in an organization and creating ample opportunity for innovation.

He asked for more creativity in an organization and making people realize the there is more than one answer to each question. At the end of the session there was an active participation from the students where questions like industry appetite to failure were asked and subsequently discussed by the panel.

The second session revolved around the concept of Knovation. The session was initiated by Prof. N. M. Anand. He stressed on the need on Knovation, in the absence of which companies tend to fall into self centered trap and take things for granted. Mr. Ray suggested that recession was a good opportunity to let go. He suggested that the first thing to do would be to find out how things have changed and evolved.

Mr. Singhi focused on social knowledge as a key to become a leader, and placed more importance to it than academic knowledge. He said that the time requires us to think about the business as a whole. Traditional economic models sometimes does not hold true and have to be modified and changed as per the current scenario. Mr. Narang, talked about how India should use innovation and knowledge to make breakthroughs happen. He suggested that we should be ready to combat barriers and leverage uniqueness to achieve success globally. He also talked about inclusive growth and inclusive innovation as the basic requirement for India's prosperity and growth as an economic entity.

Mr. Kothuri, gave examples of how Citibank has adopted innovation and has evolved into the current state. Experimenting and trying new things has helped Citibank to evolve into its current form. Mr. Arnaud defined innovation as new way of doing business and with the help of real life examples from his experiences stressed on the fact that the future lies in sharing innovation.

The session was followed by questions from the students on topics like innovation in the services sector and its effectiveness, innovation a source of risk when compared to the tested and tried theories of the past.

Concluded.

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Contributed by -
Neha Bhargava,
Media Relations,
Faculty of Management Studies, Delhi.

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