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Innovation at Marico |
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Innovation has been an integral part. The formula to building a culture of Innovation has been:
A
Great Commitment of Resources,
A High degree of
Collaboration by continuously aligning all the
stakeholders,
Integration of new members and a
rigor in Execution through Persistence.
The
Innovation Journey was consciously enabled by a
flat structure to enhance speed,
Cross
Functional Forums and a Culture of Openness and
Meritocracy.
To enhance the Innovation journey, Marico chose Erehwon Consulting as its partner. It began with facilitation of core projects. Subsequently many members - across levels (all top team members), across functions, were trained on Insighting that forms the core of any Innovation. Learnings were cemented through application by live projects - Product-led, Category led Projects. These were enabled through the Insighting Cell. These opened new insight windows for each category by working back from the consumer and were used to create big bets and experiments.
As part of the journey, an incubation cell was created to evaluate & drive new business model opportunities. And thus, emerged KAYA & SUNDARI business, an entirely new and pioneering line of business for Marico.
A result of this gave rise to new
wave of experimental cultures, new product
prototypes and a marketing program
experiments.
Some
of the manifestations of the Innovation Process
are:
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- INNOVATION IN PRODUCT
FORMULATION
- INNOVATION IN PRODUCT DELIVERY
- INNOVATION IN PROCESSES
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| MI-NET and MIDAS –
Implementation of IT in Sales
MIDAS- one data source in
form of an application at the distributor end
capturing all relevant
data.
MI-NET, an Internet enabled
application serving as a virtual office for
internal and external sales channel members.
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- INNOVATIVE PRACTICES IN
FINANCE:
CEASE (Claim Expense
against Self Authorization)
SAP Big Bang v/s
Traditional phased-out approach implementation
- INNOVATION IN HR
No Time
Recording – No Muster |
1000 Crore Celebration (
Inviting ex-Mariconians)
Setting up a “All
Staff” plant in Pondicherry and repeating in
Dehradun |
Innovation being a core
part of its personality, in 2003, Marico decided
to set up a Foundation, ‘Innovation for
India – Marico Foundation’. Under the
Chairmanship of Dr, Ramesh Mashelkar, Director
General, CSIR and a Governing Council of eminent
Indians, the Foundation spearheads innovation in
India. The Foundation intends to put India on the
global map by leveraging Indian knowledge and
know-how. It would do this by carrying out
research on innovative practices in business,
society and government. For further details
log on to http://www.innovation4india.com/
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