Necessity is the mother of innovation

A small bank, which did not have the funds to pay for expensive real estate, came up with the idea of using other people’s premises: schools, petrol pumps and super-markets. Then they moved seamlessly into a growth path, starting thousands of ATMs and mobile banks. Today, they are one of the largest banks in India. More recently, many banks have introduced the concept of 24-hour direct banking with business being carried out by anonymous people at the end of a telephone. This is neutralizing the competitive advantage, which established banks enjoyed by virtue of functioning from prime sites in Mumbai.

Drivers of Innovation

Leadership and consumer relevance are the top drivers of innovation. There are two essential ingredients for successful innovation: Leadership and Consumer Relevance. Innovative processes do not begin in the R&D laboratory. They are initiated with a mandate from the highest level of the corporation. Identifying the consumer’s needs is an equally integral part of the innovation process. Ensuring employee participation in planning and a complete buy-in into innovative strategy is critical. At Unilever, top management strongly believes that innovation has to be closely linked to the business strategy.

Climate that welcomes creative work ideas

Most companies are so involved in meeting deadlines and fire fighting that there is rarely time to discuss and explore work related issues. Providing a structure, space and time to discuss ideas and toy with possibilities, can greatly increase the chances of creative ideas emerging. The tolerance required to generate a multitude of alternative solutions is the climate required when talking about work.

Work to Win

‘Work hard and you will succeed’ said our elders. But what happens when you work hard, but are facing in the wrong direction. Today, research shows that working long hours, does not mean better work. Time to think, creates better ideas. Time to be still and be inspired is the secret of great work. Productivity reduces sharply after concentrated and sustained effort. Many writers do their best work in short, concentrated bursts. Charles Dickens worked for 5 hours a day from 8.00am till 2.00pm, with a break for lunch. Many focus on 3 hours a day. Antony Trollope published 47 novels writing between 5am and 8am. Today many worship the 80 hour week. But does this really lead to true productivity? Research shows that the best work emerges in researchers, from working 20 hours a week. Over 60 hours researchers say, were the least productive. Many workers in Japan, work for 100 hours a week and some of them die due to over work. Some of them are driven to extreme measures like alcoholism, violent anti-social behaviour and even suicide. So the Government of Japan is trying to urge industry and business to restrict the number of hours. Someone can work up to 60 hours a week and also make the taking annual vacation compulsory, for everyone. No one is allowed to accumulate his leave and cash it. You cannot get reimbursed by cash for forgoing your leave. You have to compulsorily use your leave, go on holiday and not report for work. This is having a major statutory and sobering effect on Japanese society. Practice is important. Practicing 10,000 hours can make you an expert in any field. But practice in a way that enables you to recover on a daily basis. Top performers rest and sleep better than others. Maybe the 10,000 hours of work should be taken gradually, allowing for atleast 4 times the amount of rest and sleep. To be a real winner, practice silence and deep contentment, alternating with intense effort.

Live in Peace

‘Rest in Peace’ (RIP) they say in an obituary. It would serve a much better to purpose to say to everyone, ‘Live in Peace’. As we celebrate the international day of peace on September 21st , we need to devote ourselves to strengthening peace and togetherness among families, people and nations. The practice of peace starts within oneself. To be happy and satisfied within oneself, is to plant the first seed of peace. We all know that the greatest destroyer of resources and lives is war. The UN identifies several challenges standing in the way of peace: poverty, hunger, diminishing natural resources, water scarcity, social inequality, environmental degradation, diseases, corruption, racism and xenophobia, among others, pose challenges to peace. If these challenges are met, the causes for conflict can be eliminated and the global architecture of peace can be built. Each of us must strive to resolve these issues in our own lives. Then next step is to reduce their impact in the families we live in. We then need to reach out to our communities. The practice of peace starts with building an attitude of collaboration and cooperation in our own lives. Research has proved that the regular practice of meditation can positively affect at least 200 people in our environment. To be peaceful at home, on the roads and in the market place, releases and liberates resources that can be used for societies to develop and prosper. So let us declare, practice peace in our own lives this year and resolve: • To focus on avoiding conflict in our families and building togetherness • To practice friendliness and collaboration with our neighbours to build happy streets. • To reach out to all those who work for us and help them to overcome poverty and need. • To practice and spread the art of meditation and kindness. • To practice fairness, high ethical and quality standards at work. So this year, let us live and practice the art of peace and happiness.