IIMA Confluence 2008 Dedicates its Final Day to Look 'Beyond the Frontiers'

IIMA Confluence 2008 Dedicates its Final Day to Look 'Beyond the Frontiers'

Panel Discussion

The afternoon session continued with a panel discussion titled "Innovation & Creativity: Sustainable Levers of Wealth Creation". The distinguished panel featured Dr. Dipak Jain,

Dean, Kellogg School of Management, Mr. Vardan Kabra, Founder, Fountainhead Schools, Mr. Prabhat Pani, CEO, Ginger Hotels, and Mr. Nayan Parikh, Chief Executive of Nayan Parikh & Consultants (NPC). Prof. Errol D’Souza, faculty member from IIM Ahmedabad, was the chairperson for the session.

Mr. Pani initiated the discussion by echoing the vision of Dr. C. K. Pralhad that India, at 75, can be a global leader. Stressing the need for innovation, he commented, "If you do what you always did, you’ll get what you always got." He described in detail the journey of Ginger Hotels right from the conception of the idea to its execution and shared some of the important learning derived from the experience. "The customer is constantly evolving and we need to ensure that our offering to the customer evolves as well," he stated. He felt that innovation and creativity were important tools in achieving differentiation and added that innovation needs to percolate to every aspect of the business.

Explaining his motivation in entering the education sector, Mr. Kabra stated there was tremendous scope for innovation which had not been pursued so far. He felt that the teaching profession had been neglected in the country and there was a need to ensure career growth for primary teachers, which would directly add benefit to the schools. Expressing his dissatisfaction at the curriculum being followed in various institutions, Mr. Kabra said, "We need to prepare the students for life rather than just for the board exams."

Mr. Parikh expressed the opinion that creativity was necessary but not sufficient for innovations. He cited specific examples to illustrate how creativity and innovation helped him and his organization to deal with complex challenges while executing projects in the public sector. He explained how an innovative idea like barter exchange could be extremely useful in today’s scenario.

Dr. Jain felt that 'innovation is a mind-set' and went on to add that people who think linearly are rarely innovative. "Outcome is the sight, the process to reach the outcome is the insight," he opined. Dr. Jain felt that 'the key source of innovation is diversity' and explained how the admission process at Kellogg’s is geared towards promoting diversity. Quoting from the book 'Day of Empire' by Dr. Amy Chua, he felt that the US has become a super-power because of its relative tolerance for diversity. With relevant examples, Dr. Jain explained that we need to think of innovation along three dimensions - product innovation, process innovation and business model innovation.

Looking at the future, Dr. Jain suggested that consumer wellness (healthcare and wealth care), customer engagement (media and entertainment) and customer hospitality (tourism and airlines) are the sectors that would prosper in the coming years. Dr. Jain spelt out the 3 Rs for the future as 'Reflection, Renewal and Responsibility'.

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* Contributed by -
Ravi Shankar,
IIMA Confluence 2008,
Indian Institute of Management, Ahmedabad.

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