In a paper just published in the Journal of Indian Business Research, I have synthesized recent research to identify the innovation strategies, and to understand the role of innovation, in the growth of Indian market leaders.
The main findings of the paper are: Market-leading Indian companies focus their attention on business model innovation for affordability. They use technology as a means to deliver such innovation rather than innovating in technology per se. They display a high level of ambidexterity in their innovation strategies on the four dimensions of innovation identified. So far, they used top-down innovation models for breakthrough innovation, and bottom-up innovation models for “managed innovation.” With multinational corporations getting more aggressive and willing to develop products and services shaped by local market needs, and with signs of increasing consumer aspiration, going forward, they will need to adopt more research and development-intensive innovation strategies. They will also have to develop new organizational process models for breakthrough innovation.
For more details, write to me.