Inderscience Publishers

Embracing competitive renaissance by steering innovation velocity

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Business innovation has been the mother of firms' success, both for sustenance or as growth strategy. Intrinsic and extrinsic desires to be innovative have been the driving forces for entrepreneurial leaders. Precision tool casting (PTC) is known for transforming metal with 'focus on customers'. It combines available technologies that offer customers finesse over competition. The company was initiated by four people with a plasma furnace imported from the USA. Foreign markets were never explored and this was the turning point for PTC in its very first phase. PTC started developing castings for those American and European companies, which had some sort of strategic alliance with their Indian counterpart. The focus was on top ten global firms who were the end users of castings. All desired processes and product innovations were brought around the business model that supported PTC's innate desire to be the supplier of quality castings to the benchmarked firms.

Keywords: entrepreneurship, innovation, competition, casting

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