Inderscience Publishers

Assessing innovation quotient (InQ) of Indian auto component manufacturers

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Courtesy of Inderscience Publishers

Innovation is imperative today as a key tool for creating winning organisations globally. With many global auto players setting up operations in India in the last ten years, Indian companies are now exposed to manufacturing excellence techniques used globally. They need to scale up on innovations to remain competitive and create winning organisations. It would also be important to assess where we stand, identify areas of improvements with respect to global benchmarks and then workout an action plan to have a transition to global levels to build winning organisations. This paper, through an exploratory empirical study, identifies drivers of innovation through a cross sector study. Further, it attempts to probe as to where does Indian auto component industry stand on innovation by suggesting an innovation quotient (InQ) and then measuring them over InQ; what are the enablers and barriers of innovation and what strategy should the industry and the company adopt to accelerate innovation and have transition to reach global benchmarks to create world class winning sustainable organisations.

Keywords: innovation quotient, InQ, India, innovation drivers, automotive components, automobile industry, winning organisations

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