Prakash Goswami's personal blog

Innovation – the Key to Success and Survival Leaders of successful, high-growth companies understand that innovation is what drives growth, and innovation is achieved by awesome people with a shared relentless growth attitude and shared passion for problem solving and for turning ideas into realities. Companies that continuously innovate will create and re-invent new markets, products, services, and business models – which lead to more growth. Innovation is founded based on organization's ability to recognize market opportunities, its internal capabilities to respond innovatively, and the internal knowledge base. So, the best thing to do to guarantee growth is to build a sustainable innovation organization around the following components: 1. Vision and strategy for innovation 2. Culture supporting innovation 3. Processes, practices and systems supporting innovation 4. Top management team leading innovation 5. Cross-functional teams mapping innovation road 6. Empowered employees dr

The amazing story of the coolest little start-up in the US: http://ia.rediff.com/money/2006/jun/23inc.htm Next few days I will collect some articles and links on the "look and feel" of an innovative organization - how it looks, what it does and what process/structure it consists of. So, if you are curious on that domain stay tuned....BTW, you are welcome to share your thoughts too. You can email me at goswamip1@simon.rochester.edu

According to INFY chief, there are five elements of success. They are: Openness to learn: Openness to subordinate your ego to take ideas from others. Meritocracy: The best ideas are adopted and implemented using data to arrive at the best decision. Speed: Assuring you do things faster compared to yesterday and last quarter. Imagination: You continually bring better ideas and better innovation to the table. And finally, excellence in execution: That is implementation of these great ideas with a higher level of excellence today than yesterday. I found this Harvard article interesting: http://www.fireleadership.gov/documents/Learning_AAR.pdf

I know some of you might be dying to read the new updates on this blog....I apologize to keep you waiting :o) What can I do - could not resist the temptation of going out on a camping trip over the weekend. Well, had so much fun that some of you might be little jealous =) I promise you that I will post the pictures very soon!! Till that time I want to share some nice articles with you....have fun!! Bombay Buzz in Time: http://www.time.com/time/magazine/article/0,9171,1205390,00.html Wharton guru on why bosses don't change: http://ia.rediff.com/money/2006/jun/19guru.htm Here you go....photos of my recent camping trip: http://pg.photos.yahoo.com/ph/prakash_goswami/album?.dir=/da15

By now most of you might have already heard the Microsoft story - 2 years from now Mr. Bill Gates will leave his Microsoft job. Definitely this will be a huge loss for Microsoft and its shareholders but it will be a great gain for the humanity. Two great leaders that adore most are Bapu Gandhi and Mr. Gates - both influenced mass. Bapuji moved all Indians against British and Mr. Gates created a mass movement on the PC world (the very vision PC for every household definitely created all the difference in today's world). Anyways, I hope the world humanity is benifited from Mr. Gates service. On the alterative energy area - more Powerful Fuel Cells Get Closer To Market http://www.technologyreview.com/read_article.aspx?id=16965&ch=biztech I will be on a camping trip this weekends....so stay tuned for the updates.

Continuing on the awareness of environment issues, here is a nice article by Bittu Sahgal: http://in.rediff.com/millenni/bittu.htm On a seperate note here is an interesting article on how the "Demand and Reforms pump up Asian Energy trading market": http://www.fenews.com/fen49/fe-in-asia/fe-in-asia.html In the sports: little disappointing for all Indian cricket lovers, rain God and WI captain Lara spoiled India's hope to break the jinx (to win a test match against WI) - We definitely need our Sourav Gangul(dada). On the other hand in soccer world, Germany won the match against Poland - was a very tight game - definitely Oliver made all the differenece. Stay tuned for tomorrow's update...

Microsoft's Multiple Challenges: Is Its Size a Benefit or Burden? http://www2.cio.com//higher/report4137.html?source=cioinsider A dummies guide to P/E ratio: http://ia.rediff.com/money/2006/jun/13mc.htm The global green index Zero solid waste: A company that achieves this is either able to utilise its entire waste as raw material for some other industry, or recycle it for use again in the factory. Water positive: This implies that an organisation generates more fresh water through various water harvesting methods than it consumes in its factories. Carbon positive: Implies a company, through afforestation programmes and efficient use of energy, eliminates more carbon dioxide from the atmosphere than the sum of the carbon emitted by the company through areas like the generation of electricity, running AC plants and so on. Article on environmental protection initiatives: http://www.rediff.com/money/2006/feb/11spec.htm

Business Week article - thought you will be interested: http://www.businessweek.com/magazine/content/06_17/b3981401.htm Today, innovation is about much more than new products. It is about reinventing business processes and building entirely new markets that meet untapped customer needs. Most important, as the Internet and globalization widen the pool of new ideas, it's about selecting and executing the right ideas and bringing them to market in record time.

Yesterday, June 11th of 2006 was one of the most important dates in my life. I got my MBA degree from one of the most renouned business schools in the US. It was also my birthday. Few of my close friends came to celebrate with me.