I was watching an entrepreneurship-based reality show on television– Shark Tank India. The show is demonstrated on the eponymic universal version which involves promising entrepreneurs pitching their innovations or bright ideas to a panel of judges (sharks) who happen to be business tycoons. I was impressed by not only the range of unique and innovative businesses but the daring entrepreneurial strategies to support those ideas. It is a fact that innovation doesn’t happen by itself, it needs acceleration be it a startup or big business.
Unfortunately, sometimes we see the word innovation is used as a catchphrase without even understanding the thorough process of innovation. Business growth and Customer need are drivers for innovation in a company. Idea is just like a seed and our MBA students are taught to turn knowledge and ideas into the solutions that benefit our business and society.
The MBA module made clear that Innovation and entrepreneurship are two different notions. Innovation introduces something new which can be an idea, product or business model and augments the nature, inventiveness, and design thinking process. Entrepreneurship involves spinning a prodigious idea into a business prospect by using emergent strategies.
History takes us back and makes us think about the invention of the wheel to modern age iPhones-isn’t it implausible. During my MBA days we were impressed to read Dyson case studies and today I cannot ignore their innovations like bagless vacuum cleaners which is designed to solve customer’s problems. The company transformed the cleaning technology and still endures innovating.
Our MBA program provides a sense of autonomy, liberation and self-assurance. Education makes people conscious of alternative career choices. Students develop entrepreneurial competencies, which are knowledge, skills, and attitudes.
SPICY FLAVOUR TO OUR MODULES
As usual we invited two top speakers from business who added their field experience to the modules. Angelica Korneeva, Head of Digital Transformation Promotion Department, Inter RAO PJSC spoke on “Implementation and scaling of digital innovations”.
Evgenia Ovchinnikova from the banking sector spoke on “How to start running after the development and not miss the important”.
The students appreciated it as it was an immersive learning experience. Gaining knowledge from an expert is always valuable. Here more peer interaction happens for shared learning moments.
Our MBA student Egor Orel (leader of Russia, Project Director n the Project Coordination Department of Digital Economy Program of the Federal State Budgetary) commented “Angelica shared her practical experience and best practices in terms of digital transformation. A lot of practical examples and recommendations were voiced, which can be implemented on the next working day. I was struck by the stunning enthusiasm with which Angelica spoke about her profession on Sunday evening. There was a strong impression that this person really loves what she does!”
Our EMBA student Irina Panutina, Director of Public Relations and Marketing, SMARTLOG commented:“Angelica Korneeva's master class and unusual cases told by her helped to look at the introduction of innovations in companies from a broader angle. It was very interesting and useful to learn how the financial sector is adapting to new conditions and becoming more flexible, despite the difficulties and high uncertainty. Thanks to the openness, goodwill and willingness of the speaker to answer a variety of questions, the one and a half hour meeting passed in one breath”.
If Innovation stops there will be stagnation. We need any business or any idea to stay germane and survive in this ever-changing world. It is not always about game changing ideas but sequences of improvements too.
Stay tuned with us and remember Idea and Implementation goes together…
Dr. Mitali Mittra
Director MBA Program
Director MBA Program