Innovation is a way of thinking at Titan Company Limited
Titan Company began its operations with an innovative offering - quartz watches - that changed the face of the Indian watch industry. Innovative ideas at Titan Company have led to significant achievements such as Single Point Solutions to every Original Equipment Manufacturer customer. Titan Edge, world's slimmest watch, is probably the best example of the spirit of innovation in the organization – a feat achieved in less than five years of our existence.
“Innovation School of Management” (IScM) has been started to address the objective of creating the ability to innovate and making it a culture among the employees.
At IScM, students are trained on various tools and techniques to develop innovative thinking capability, and the Head of Departments are trained as a Mentor to use the innovation outcomes. Tools and techniques enable students to think out of the box and beyond the obvious. The graduates from IScM deploy this learning to resolve problems at work, as well as in their personal lives.
Titan Innovation Council (TIC): TIC is a cross functional team of Senior & Middle Management to create ideas to spread the innovation culture across Titan Company. They have created and drive the following:
1.Innovation Bazaar: This is an initiative to cross learn the innovative ideas among the company and showcase the ideas of all the divisional improvement / innovation in four categories: a) Process, b) Services, c) Design / Product and d) Marketing / Retail / Customer service through “Innovation Bazaar” to all the employees of the Company to understand the happening in the other divisions / functions and to improve their process.
2.Interweave: This is an initiative that provides an opportunity for different businesses to present and cross learn the innovative ideas that have been implemented in other businesses across retail and manufacturing.
3.Tata Innoverse: This is a web 2 based social net working platform, to enable employees of Titan Company as well as other Tata Companies to provide innovative ideas to challenges posted by Senior leaders. Employees can also comment and vote on ideas submitted by other employees. We have also extended Tata Innoverse to our supplier fraternity.
4.Innovation centre: Innovation centre is a space to generate great ideas and provides a free, creative Innovation centre space, where interchange of ideas and unhindered experimentation has a home. It consists of two spaces. The first hall is the Xerxes Desai Hall of Creativity, which harbours the Exploration Laboratory, Reference library and Study Area. The second hall is the Bhaskar Bhat Hall of Tranquillity, is the hall where prospective innovators can meditate, introspect, listen to lectures or practice yoga.
5.Titan Innovation HUB: Set up at IIT- Madras Research Park, Chennai, it enables Titan to leverage the specialized expertise of the faculty and students and to utilize their facilities, labs in creating a collaborative environment between industry and academia through joint research projects and consulting assignments and in creating a self-sustaining and technologically fertile environment.
Our contemporary store designs are a great example of innovation. They have redefined the retailing standards in India since the time when the concept of modern retailing had not evolved.
The Jewellery Division changed the dynamics of gold market by introducing the Karameter, an industry first in checking the purity of gold through a non-destructive test.