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Thursday, 24 January 2013

Next-generation Indian business leaders most innovative: Deloitte - The Economic Times

Amid uncertain global economic conditions, the next generation of Indian business leaders are the most bullish lot when it comes to innovation, which is integral to growth, says a survey.

According to the Deloitte Millennial survey, 81 per cent of business leaders surveyed in India described themselves as innovative, while 74 per cent of respondents feel their company's activities benefit society.

Interestingly, Indian leaders are much above than global average of 62 per cent when it comes to innovation.

Millennial is used to describe a segment of the population born between 1980 and 2000.

The survey, conducted among nearly 5,000 millennials from 18 countries, said sectors such as technology, media and telecom, manufacturing, consumer goods and services are considered as responsible for the most innovations.

However, areas including education, electric power are in the dire need of innovations.

"Innovation at the institutional level is needed to sufficiently shift an organisation's mindset to allow new ideas to truly emerge and thrive," Deloitte Global CEO Barry Salzberg said.

The survey said Thailand is second after India, where 79 per cent of future business leaders surveyed consider themselves innovative, followed by South Africa (78 per cent), Brazil (77 per cent) and Japan (24 per cent).

Notably, overall, 65 per cent of respondents feel their company's activities benefit society, led by Brazil (83 per cent), Germany (73 per cent).

It also said 78 per cent of future business leaders across the globe surveyed believe innovation is essential for business growth. However, only 26 per cent of them feel that they are doing enough to encourage practices that foster innovation.

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