“First find right things to do, and then do them right”

By Japan K Pathak, Ahmedabad, 9 November, 2011

Last week I attended one more insightful conference at Indian Institute of Management(IIM) Ahmedabad. It was a two-day conference ‘IIMA ConneXion’ organized under the title of ‘Thought leadership’ by Post Graduate Programme for Executives(PGPX) department of IIMA. I have reported this conference in Gujarat Samachar in Gujarati text. Here on DeshGujarat, I am putting it in English in this online series.Here is the third post of the series.It contains glimpses of Accenture India CEO Avinash Vashishtha’s speech:

-As an entrepreneur, you will come across 100 ideas to start business, but important thing is to figure out five or six really workable ideas of those 100 to start the venture.

-So innovation is about first find what are right things to do and then to do them right.

-There are three steps for successful entrepreneurial venture. The first step is front-end innovation.It is about doing the right project, and therefore it is about discovering. The second step is center-of-innovation. It is about doing the right project, and therefore about executing the project right. And the third step is back-end innovation. It is about getting maximum value out of the project. It is about commercializing the project.

-In Apple products you don’t need to press button to zoom-in the picture, you just need to move your fingers in particular fashion to do it. Even you can flip the pages through assigned movement of fingers. This was really an innovation. We couldn’t think such thing could happen before we actually came across. Today for 3-year old child it has become natural to use Ipad, and that’s the real innovation.

-When Steve Jobs brought Mac to us, rival company IBM had 100 times more budget. It must be understood well that only having budget is not a matter of great privilege, and not having budget is neither a constraint.

-Rather than conducting surveys and market research, Toyota simply started inviting feedback on its products through social media, and it just worked. The company started getting feedback on its product from real users in real time through social media.

-Number of new technologies are capable to disrupt existing business models. African country Kenya has more m-paisa users(mobile money transaction service users) compare to total number of bank account.