N R Narayana Murthy's three mantras for innovation

Infosys Co-founder N R Narayana Murthy on Wednesday said companies should focus on three mantras of how to reduce cost, time and improve quality to bring a culture of innovation.

Speaking at the inauguration of Synergetic Security Operation Centre of SISA on the outskirts of Bengaluru, Murthy said organisations should concentrate on these three attributes and leverage the power of innovation.

“As long as everybody in your organisation asks these three fundamental questions like how can I reduce the cost of what I'm doing? how can I reduce the time of what I'm doing? and how can I do whatever I'm doing with a better quality today than I'm doing yesterday, then it will bring in innovation,” he said.

Murthy said whether you are the janitor or the CEO of the company, everyone in the company will have a very clear roadmap towards bringing the power of innovation, increase their value addition to the corporation. “This can be done by people in finance, HR, technology, physical infra, tech infra, security guards, etc,” he pointed out.

Commenting on employees to bring in greater innovation every day, Murthy said the job of the management of the company is to create an environment where openness to ideas, humility, meritocracy, justice, speed, imagination and excellence in execution and it should be revered by everybody in the organisation.

“Once you create an environment where these attributes are practised by everybody in every transaction, you would have created an environment which is most conducive to free thinking, more conducive to new ideas coming to the table,” he said.

Infosys founder said organisations would have created an environment of the leadership of ideas rather than the leadership of hierarchy and their confidence of every individual will be very very high because he or she knows "I will be respected for what I bring to the table".