The panel discussion on “Fostering Innovation in the Next Decade,” organised in Chennai as part of the 10th anniversary celebrations of the Indian School of Business (ISB), featured industry stalwarts including B Muthuraman, Vice Chairman, Tata Steel, Lakshmi Narayanan, Vice Chairman, Cognizant Technology Solutions and member of the ISB’s Executive Board, and Vellayan Subbiah, Managing Director, Cholamandalam Investment & Finance Company. ISB Dean Ajit Rangnekar moderated the discussion.
The panelists stressed the importance of business environment on innovation. According to Vellayan Subbiah, unlike their western counterparts, the company leaders in India did not give the people enough freedom to innovate. “To drive innovation, Indian companies need to follow the more authoritative style of setting the broad direction and stepping back,” pointed Subbiah.