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The Impact Of Innovation On The Development Of A New Product Service Services Provider Hcl Technologies ( Hclt )

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Innovation is a combination of behaviors and skill sets that contribute to the development of a new product or service that is cutting edge, creates value, is a breakthrough process or brings financial success. Some people may think that innovation is something that only comes natural, a born skill or talent. But according to Dyer, Gregersen, and Christensen (2011), anyone can become more innovative through the mastering of the five discovery skills (associating, questioning, observing, experimenting and networking). These five skills were identified through a study on the behaviors that top innovators engage in. In this analysis, an in-depth review of an article by Vineet Nayar, the former CEO and vice chairman of HCLT will help to identify how discovery skills, were used to create an innovative organization. As a newly appointed president of the Delhi-based IT services provider HCL Technologies (HCLT), Vineet Nayar found himself in a difficult position to either stick with the current norms of his organization or take a leap towards greater possibilities. Despite the continued growth of the company’s revenues each year, it was still losing market shares and mindshare. The industry was rapidly changing; its competitors were increasing in growth more rapidly each year and the loss of the customer’s interest in their services (Nayar, 2010). He knew that something would have to change in order for the company to survive and thrive in a rapidly changing industry.
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