Titan Company Limited
Innovation a way of LifeASQ – 02/12/2017
2
Titan Today
5thlargest watch
maker
$6.5 bnmarket cap
~$2 bnannual revenue
11k+mutli-brand outlets
7.5k+employees on rolls
1366stores with 1.8 mn
sft retail space
4times in Forbes Asia Fab Fifty
INNOVATION AT TITAN
3
INNOVATION HAPPENS WHEN
4
Believe in the impossible
Challenging questions
Skill peopleTools and Techniques
Believe in your peopleEmpowerment
Enablers of Innovation
PROCESSGenerating and capturing ideas, Evaluation,Experimenting, Formal process for Cross‐Pollination,Measuring Innovation
5
CULTURE Non – hierarchical, informal, Open and transparent, Freedom to fail.
PEOPLEAge and gender diversity. Talented andentrepreneurial workforce.
STRATEGYInnovation thrust in short and long term including anapproach for identifying new opportunities, Reviewmechanism for innovation pipeline.
TITAN INNOVATION ENGINE
6
PROCESS + TOOLKIT=
Innovation as a way of Life
How we define Innovation
“Novel or Pioneering Processes , Products or Business‐Models
that deliver Elevating Experiences for the people we touch or create Significant Impact & Value”
7
Governing Structure
8
Apex Council
Innovation Champions
Engine Drivers
TIE Process Flow
9
Challenge Identification
Collecting Challenges/ Problems or Themes
Evaluating Challenges
IDEA Management
Upload challenge in the online platform
Inviting Ideas in response
Collaboration / Crowdsourcing (voting, betting, enhancements,
comments)
Evaluation of Ideas
IDEA Implementation
Selection of Ideas or Projects
Formation of Functional teams / CFT’s
Define Outcomes & Milestones
Track & Review ‐Progress & Impact
Implementation
Outcome Recognition
Submission of Project for Evaluation
Present to Innovation Apex Council / External jury
Evaluation of Innovation outcomes
Challenges UnThink UnDo UnLike
Unlike Any otherDo DifferentlyThink Differently
Innovation Enablers
Innovation Bazaar InterWeave
Daily Mail on innovation
Innovation newsletter
10
Ignitor
Enhance capability to innovate
Innovation School
Innovation Centre
11
Innovation School of Management
12
Idea Generation & Selection
Seed
Ignitor
CWS ‐ Innoverse
Innovation HubIITM
Research Park
What’s New?13
Central Technology services
Centre for Innovation
and Technological Excellence
Rewards & Recognition
Innovista & External Awards
MOF
Dream TeamOutstanding Titanian
IScMGraduates
14
Measurement of innovation
15
Employee Engagement Survey
TIE Toolkit
16
Innovation Tools• Challenge Scoping• JTBD• Provocation & Movement• Ethnographic Interviews• INJ• SCAMPER•Frame based Thinking•Morphological Matrix•Nine Windows• UnThink
Design Thinking Tools•Visualization• Journey Mapping•Value Chain Analysis•Mind Mapping•Brain storming•Concept Development•Assumption Testing•Rapid Prototyping•Customer Co‐creation• Learning Launch
CI Tools•5S•7QC Tools ‐I (4)• Control Chart• Kaizen•VSM•Lean • FMEA•PDCA•7QC Tools ‐II (3)• Benchmarking
EXAMPLES
17
IGNITOR
18
Launch700+ entries received
1st Round 50 entries
shortlisted
2nd round. 14 Projects
shortlistedPresentation to Sr.
Leaders .3 projects shortlisted
Independent work on projects
Presentation to Board. 1 project
selected
Launch of
Matched toTUV standards
Rs. 6,810/‐ only
Long Battery life:15 days
Weight = 1.3 kg
TFT 2.8” Touch screen display
Self‐calibration
Can test all forms ‐Uncut lenses, Spectacles & Sunglasses
Lens Analyser
Mould Setting
100 stones
100 to 1500 stones 163 % Improvement No Rejections Patented
Conventional
Mould Setting
Conventional Setting
Conventional Setting
20
150 to 1000 proto/month Patented
Virtual Stone Setting…
150 proto/month with 40 persons
Conventional
Virtual Stone Setting
Conventional Setting
Virtual Stone Setting
21
Diamond Bagging Automation
Capacity per day – 800 bags 40 people on the job
Conventional Diamond Bagging Capacity per day – 2500 bags 40 people redeployed Repetitive accuracy
Automatic Diamond Bagging
Conventional
Diamond Bagging Automation
22
Diamond Bagging Automation
23
33
34