May 20, 2008

New Age of Innovation

Should read this book sometime...The New Age of Innovation: Driving Co-Created Value Through Global Networks -C.K. Prahalad and M.S. Krishnan

An interesting example for innovation
Executives at Madras Cements, a division of India's Ramco Group, decided against deploying sophisticated—and expensive—GPS technology to track the movement of its trucks and goods. Instead, drivers were issued $30 cell phones and instructed to communicate their whereabouts via SMS text messages. The company designed an infrastructure that could process these raw data and give regular, timely insights into driver performance, helping executives identify areas of improvement for both individuals and the company at large. To date, the simple, innovative solution has led to recurring annual savings of more than $4 million

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