In today’s competitive economy, we need to reinvent ourselves on a continuous basis, in understanding and serving the needs of the ever changing, articulated and unarticulated needs of the customers. Connection & Collaboration is one of the route taken, to bring in the desired diversity in arriving at the best possible solution to our customers.
We are living in a business world with ruthless competition. Most of the tangible advantages of the past have been commoditized. The technological advancement, have substantially enhanced the expectations of the customers to continually look for new products and services. Due to this, every business is under constraint to keep their customer value proposition dynamic, in an attempt to survive, leave alone lead. It has become clear that the extent of innovation in a company, directly decides the extent of its market share. Innovation has become the key differentiator between a successful and a mediocre company. Innovative companies have innovation built into their strategy, and have best of Innovation processes and Innovation culture.
We at Titan, as seen from the results of the Innometer study, have the best possible culture for innovation and are reasonably good in innovation strategy. It is important for us to have a robust innovation process, including ideas from outside. A recent research reveals that innovation derived from outside ideas, have a better chance to succeed in the market place. Innovative companies connect and collaborate, with the external world, to capture best of ideas. We should remember that, there are more talented persons available in abundance across the globe, than what we have in our company and we need to tap into these people, communities, Institutions and the public to deliver the best to our customers. One of the best places to tap the thinking of such ideology is none other than the corridors of education.
IIT Madras Research Park enables companies with a research focus to set up a base in the Park and leverage the expertise of IIT Madras. It is modeled on the lines of successful research Parks such as Stanford, MIT and Harvard. These technology parks have been known to add value and impetus to industries and business enterprises. The macro guiding principles behind the park are: ~ Creating a collaborative environment between industry and academia through joint research projects and consulting assignments ~ Creating a self-sustaining and technologically fertile environment. Titan will have the opportunity to tap into the research wealth of one of the leading technology institutions in the country. The IITM Research Park will enable Titan to leverage the specialized expertise of the faculty and students and to utilize their facilities, labs etc.
The Titan Innovation Hub (TIH) at IITM Research Park, Chennai having a floor space of 3000 square feet was inaugurated on 3rd December, 2012 at 9.30 am by Mr. T K Balaji, MD - Lucas TVS and Director Titan Industries Limited. The function started with ribbon cutting followed by lighting of Kuthuvilakku (e-lighting of lamp through remote control). The chief guest, Mr. T K Balaji spoke about the importance of R&D, Innovation and the way to adopt it in industry to meet the growing demands of the market. The IIT Director, Mr. Bhaskar Ramamurthy briefed on the need of innovation and the facility available at IIT for industries to access. Mr. Rajendra Mootha – COO IITMRP explained about the facilities available at Research Park. Mr. L R Natrajan, CEO – New Business Division spoke about Titan and its innovation culture and then led the guests around the office, which showcased the portrait of JRD TATA in a differential text shading, designed by our Design studio team and the Ruby Cube library designed by our VM team.
We take this opportunity to thank all those who have helped us in creating this structure. Our special thanks to
Neil Foley, Rohit, Manjunath & VM team,
IRSG – V. Govind Raj, Murugan, Thirumal, Thirumurugan, Sachin, Nijesh & team
IT – C. S. Ramesh , Lizy, Narahari & Team N. E. Sridhar, S.Srinivasnan & team
P. Vellingiri, Radhamanalan, Santhosh & Bala
Finance - S. H. Ganesh & team
Other coordinators from Manufacturing/Regional Admin
TITAN (with the four verticals & emerging new ones) like any other business, has its own unresolved challenges of the present, challenges in the medium term and uncertainties of future. Articulating these challenges, followed by positioning a team from factory – Raghothaman, Seshadri and Srivalli - in IITM-Research Park, to work along with IITM resources, will be an attempt to seek solutions, and explore / define new areas of business.
We request everyone to visit the TITAN INNOVATION HUB at IIT Research Park Chennai to add your valuable inputs in embarking the journey which would unleash the synergy on coming together of two best in class fraternities to Reinvent the Future. Let us leverage this vast knowledge bank, for our business solutions. We would request you all to keep posting challenges. It takes an arsenal like the challenges thus posted to tap on the thinking potential / creativity of some of the top brains in the country.