Udaipur: The key aspects to the success and development of an organisation were creating knowledge and an environment for sharing it, said Indian Institute of Management-Udaipur Director Janat Shah.

Professor Shah initiated the proceedings of the IIM's flagship event The Leadership Summit 2012 here with his views about development of an organisation.

Rural Marketing Association president Pradeep Kashyap delivered the keynote speech on innovation, execution and the need for “Business minds with a social cause”.

Kashyap talked about the concept of “75 percent performance at 50 percent price” in the Indian context, emphasising that it requires a positive approach towards the community co-creation process.

Participating in the panel discussion on ‘Making India an Innovation Hub’, Bombay Dyeing chief executive officer Debashis Poddar spoke on innovation as a means of survival and defined it as “the successful exploitation of a new idea”.

Accenture Management Consulting partner Ganesan Ramachandran asserted that though Indians were good at service innovation, they shied away from product innovation.

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