Innovation is a critical to the success of large, diversified Indian business groups and this chapter explores the specific organizational mechanisms they have adopted to enable and foster innovation in their organizations. First, these groups provide internal markets for much needed capital and talent necessary for innovation to make up for sufficient lack of these institutions externally. In addition, they have pursued the following actions: (a) significantly upped their investments in R&D and innovation, (b) created internal leadership councils to oversee and promote innovation, (c) created an innovation culture that encourages and celebrates entrepreneurship, risk-taking, and tolerance for failure, (d) undertaken formal learning interventions to build the innovation capabilities of their managers, and (e) set-up formal units to in-source innovation from external sources. Indian companies are yet in the early stages of this journey and will have to sustain these practices to demonstrate durable success with innovation.
Butterfly effect and spatial structure of information spreading in a chaotic cellular automaton
