The clear verdict at the Confederation of Indian Industry (CII)-Deloitte Business Leadership Summit that concluded in Ahmedabad on Friday was that innovation should be used as an all- weather business promotion strategy. The summit highlighted the proactive growth strategies adopted by several Gujarat-based fast growing enterprises to remain competitive in times of economic challenges. Business leaders from Bhavnagar,Rajkot,Jamnagar,Vitthal Udyognagar and Vadodara deliberated on innovative practices and strategies at the meet. Atul Garg,Chairman,Business Leadership Summit,said,Contrary to common belief,a large number of industrialists in the downturn looked at increasing the salaries to motivate and retain their employees instead of embarking on pay cuts or strength reduction. He said businessmen looked at domestic customers and markets to offset their international market loss. Pranav Adani,Chairman,CII-Gujarat,said,This survey by CII will help Gujarat-based enterprises to innovate themselves and keep growing in these challenging times. CII findings have indicated that 85 per cent of the business leaders assign top priority to enhancing operating efficiency,70 per cent to asset efficiency and about 63 per cent to product and service innovations. Also,the delegates at the summit favoured helping the small and medium-scale enterprises in the state for creating an attitudinal as well as structural ecosystem to promote innovation and sustain organisational growth.
