In collaboration with Plugin Alliance, ISB Centre for Business Innovation organised an Exclusive Leader’s Workshop on “Business Innovation – Value Migration and Appropriation” on October 19, 2023, by Professor Rajendra Srivastava, Executive Director for centre and Novartis Professor of Marketing Strategy and Innovation at ISB. The session was attended by CXOs, Directors, and Heads of Innovation from various corporate houses such as Diageo, TVS Motors, Intel, Bosch, etc. The session was to dive deeper into concepts of Value Migration and Appropriation in the new Digital Era by leveraging market-based intangible assets to innovate at business/firm level. 

The session saw active participation from all senior leaders in demonstrating recent examples at their respective firms on opportunities for value migration and appropriation and discussed the challenges in translating those opportunities to tangible results and benefits for the organization. The discussion also enabled cross-sectoral learning and debate on innovation practices, methods, policies, etc. 

The session started with layout of Business Innovation Framework by Professor Rajendra Srivastava based on Market-Based Assets and their innovation impact on shareholder value in short-term and long-term. Professor Rajendra took many use cases from across geographies, markets, and industries to demonstrate business innovation activities that lead to competitive capabilities that added to shareholder value monetarily. The discussion further moved into understanding how a firm develops market-based assets and innovation culture under the complex structures of legacy processes. The leaders had expressed many use-cases in their rich innovation experience at their respective firms that emphasized top-down and bottom-up approaches of innovation. Many use cases for competition coming from other sectors were discussed. One in-depth discussion was on how the retail industry grew to be extremely competitive for Consumer Loans and Credits, engaging more efficient and accurate credit rating mechanisms which is built from consumer data that they are capturing through their e-commerce platforms. Filled with current innovation trend observations and speculations on future possibilities, the session was a learning workshop that stimulated thought leadership in preparing organisations towards an innovation revolution. The session also served as a platform in discussing industry needs that will foster organisational innovation, which resulted in emphasis on research on measurement of Innovation at firm level. Senior leaders expressed the critical need for frameworks that would guide organisations to articulate the returns on investments made on innovation-related activities. 

The session is the first in a series of workshops, exclusive for Senior Leaders that govern and manage organisational Business Innovation at large and growth corporations. As the Knowledge Partner to the Plugin Alliance, these workshops serve as platform for bringing leaders from various organisations to convene to lead Industrial innovation through healthy collaboration, knowledge-sharing, and insightful discussions. The next session was held on December 14 in India Habitat Centre, New Delhi, focused on “Capitalizing on the Unseen: Intangibles in Focus” by Professor Anup Srivastava, Canada Research Chair and Professor at Haskayne School of Business (University of Calgary, Canada).