Innovation in Action - Saurabh Khedekar

Brian Tellis interviews Saurabh Khedkar, President and Chief Executive Officer, Aluminas and Specialty Chemicals, Hindalco, Aditya Birla Group, about innovation. Khedkar argues that the primary driver for innovation is evolving customer needs and the rapid pace of change in the market. He discusses how ABG fosters a culture of innovation, including dedicated budgets, internal "Shark Tank" style pitching, and tolerance for failure. He emphasizes the importance of leadership in driving innovation, setting clear objectives, and creating an environment that encourages experimentation. Khedkar also addresses the role of automation, viewing it as essential for efficiency and freeing up mental space for creativity. Finally, he discusses the balance between innovation and optimization, arguing that both are crucial for long-term success. He concludes by highlighting the importance of continuous improvement and adapting to the changing business landscape.