TATA encourages innovative ideas for better results
With a view to encourage, innovations' of its employees in different fields, the Tata Group has introduced a unique programme receiving overwhelming response from across the globe.
'This year alone we have received more than 1700 entries from as many as 53 different Tata companies showcasing a wide range of innovative ideas aiming to help boost the productivity as well as the popularity of different products', said Tata Sons Brand Custodian and the Tata Group Executive Council Member Mukund Rajan.
Speaking to reporters during an interactive session here today to showcase some of these unique innovative ideas which had come up from within the Tata Group employees, Dr Rajan said of the total 1700 odd entries only about 83 were shortlisted for the regional rounds and only 43 out of them were picked up for the final international round.
Each of these 43 innovative ideas would now be judged and screened by a team of eminent external experts to pick up the top three ideas for their immediate implementation in the respective fields,informed Dr Rajan.
Chief of Tata sons Group Quality management Sunil Sinha said in order to generate more such innovative ideas from within the house, Tata Group had decided to spend as much as 2.5 per cet of its total budget amounting to over Rs 13,000 crore, to help boost the research and development(R and D) programmes during the current year itself.
This had been done because the estimated combined economic benefit of these 43 finalist innovations only stood at a staggering amount of over one billion USD on an annual basis, informed Mr Sinha while justifying the reason behind spending such a huge amount for the annual R and D programme.
He said since the introduction of this innovative programme in 2006 more than 7,000 innovations in four different categories were made by over 25,000 Tata employees and all of whom were well recognised and rewarded by the Tata Group Chairman for their rich contribution outside the parametEr of their conventional jobs.
(Posted on 29-04-2014)