tips for innovation; how companies small and large stay ahead of their competition
DESCRIPTION
This talk was delivered by Chirag Kulkarni, the CEO of C&M Group, to Fordham Universities MBA program. C&M Group is a global strategy consulting firm focused on growth and new product innovation for startups to Fortune 500s.TRANSCRIPT
Tips for InnovationHow companies small and large stay ahead
of their competition
Chirag Kulkarni@cgkulks
CEO of C&M Group
Who am I?
Serial Entrepreneur, advisor, Motowner
What is Innovation?
1.People2.Process 3.Product
1.Purpose2.People
3.Process 4.Product
1. What is your purpose
• Why do you exist?
“To bring inspiration and innovation to every athlete in the world”
“To inspire and nurture The Human Spirit – one person, and one cup at a time”
Difference?
Emphasis on mission, not money!
The STR story
• Early Startup• Money > Mission • Cost Cutting vs. Customer Service
• Kevin Systrom – Founder of Instagram • Build a community
2. People
Care? Retention?
Empowerment? Growth?
• John Pepper – Founder • Operated like a typical fast food
chain• Realized people do tedious jobs • Improved: Salary for employees,
benefits
People #2
• Hire right from the start• Focus on transparency vs.
dominance • Encourage new ideas
3. Process
• How NOT to Innovate • Linear Model
Process – How to Innovate
• Bring people together • People = catalyze innovation• Horizontal vs. Vertical Management • Market Pull
• Group of Entrepreneurs • Gap in consulting industry • “Entrepreneurial Consulting for
entrepreneurial organization”
• Partner network • 60% of revenues• “We help you, you
help us “
4. Product
• “Look in the future by looking deep in the present; real needs, issues, from the top to bottom” - Hal Gregersen, Insead• More value for the same products
Thoughts on Product
• Jump the curve• Iterate, iterate, and iterate• Customer feedback