INNOVATION SPECIAL....The new SUCCESS paradigm

The new SUCCESS paradigm





INNOVATION TAKES OVER LONGEVITY TO DETERMINE A SUCCESSFUL CAREER FOR GENERATION Y

Rewind to 1986, a bygone era for the current generation, when education options were limited to arts, commerce, science and law. Similarly, career options were routinely limited to engineers, doctors, lawyers and, of course, education and teaching. Most of the career decisions for those aspiring for a corporate life were made basis the job security and longevity . And from an employer's perspective, it was qualifications followed by loyalty.

People felt safe and secure at one company and changed positions within the same.Most of the decisions were made basis the city you resided in. People weren't enthusiastic about relocating and careers were oneestablishment-led with retirement plans in place from that one organisation.

Today's youth isn't hampered by such lofty ideals and restrictions and this reflects in the high attrition rates across industries. There is so much enthusiasm and zeal to do more and go beyond the regular mandate that young career aspirants, today, find it difficult to work in a closed environment. With the explosion of digital and social media, they are on the go 247, losing productivity and sleep. This accounts for a high burn-out rate at a younger age. That is why, when the French clock off at 6, they really mean it! Something this simple and obvious made a big buzz last year.

This seems to be an era of entrepreneurs. The best career option that today's generation has opted for, seems to be of 'being their own boss'. Why not work for yourself and shape up the dea, bringing it to life? It does not take them much ime to realise that they are meant for something beyond a 9 to 5 routine.

The BIG idea is the key . It s also the incredible amount of acceptability that our country is showing for innovation and new concepts. Experiments are working well. Today, all the money and investments are riding on these BIG IDEAS. Where else have we seen serious venture capitalists and angel investors putting heir trust in a business plan presented by a 25 year old?
Generation Y entrepreneurs are converting their creativity into feasible business propositions. With he Internet era, the initial nvestments are low and ruly, what do they have to ose? The beauty of experimenting at the start of heir careers is that they don't really have to worry about failures as they have a ong way to go to be able to stumble and stand again. Talking of new concepts, look at the food and beverage industry . The kind of concepts and ideas that have entered India, from the world over or even from within the country, are taking us all by surprise and what's even more intriguing is that we are all accepting it well. To mention some molecular cuisine, bizarre themes (jail theme anyone?), food aggregators, grocery shopping, et al are making a buzz. It is working beautifully and the unfathomable level of awareness of today's generation is working towards this in a big way .

Another example in the hospitality sector ­ we always knew that hotels are perishable commodities. A potential room night loss is now an inventory for someone else. Who would have thought of it this way! These are the kind of breakthrough ideas that are doing brilliantly and will show the way to the established norm of doing business.

I am a firm believer in the game of innovation. Even for a new concept to sustain, continuous innovation ­ both breakthrough and regular ­ are a must. There is always someone out there with another brilliant idea, vying for the same customers and funds. So, there should be new elements added periodically to every business idea, to keep the momentum going.

The author is senior VP & mall head, DLF Promenade & DLF Emporio

Dinaz Madhukar

TOI13JAN16