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Rishikesha Krishnan, Indian Institute of Management Indore | SMS | Strategic Management Society

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  3. Prof. Rishikesh T. Krishnan!

Rishikesha is a professor at the Indian Institute if Management, Bangalore where he teaches innovation management and strategy while Vinay is the president of Catalign Innovation Consulting and helps organizations foster a culture of innovation. The duo has studied innovation for more than a decade and come up with a framework that can help companies employ systematic innovation.

Innovation happens when an idea is implemented to create an impact. In a for-profit organization, the impact is typically measured as either cost saving or as an increase in revenues.

Moving from Jugaad to Excellence; Employ the "8 Steps to Innovation" Framework

The framework is aimed at companies of all sizes who want to practice innovation and it gives actionable points instead of jargons. Some of the chapters especially hold value for startups and the book draws examples from some of the success stories like redBus. This section includes making a list of problems that are worth solving.

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Once identified, you need to feel the pain, sense the wave and see the waste. These three steps tell you how to move ahead from the challenge book. A startup is full of ideas coming in from all corners and execution becomes a challenge.