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Inside the Mind of Innovator Prasad Krishnan
Introduction
For this podcast, we have the privilege of hosting Mr. Prasad Krishnan, a seasoned expert with 27 years of experience in the field of innovation. Having worked with industry giants such as TVS, Tata Group, Mahindra, Volvo, JCB, and now contributing his expertise at Ammann India, Mr. Prasad’s journey is nothing short of remarkable. His insights into innovation and patenting strategies are bound to offer valuable lessons and inspiration to our audience.
Mr. Prasad explains that while a career path can be planned, it often takes unexpected turns that enrich knowledge and experience along the way. Currently, he says, he is in a role where he is able to enrich his accumulated experiences and leadership skills, inspired by different people throughout his journey.
He shares that his career began in 1996 after finishing diploma as a mechanical engineer. His first job was with Autotech Industries, a company focused on product development and component manufacturing. This gave him hands-on experience in manufacturing processes, tooling, and fixture development. He highlights that starting his career in a small-scale industry allowed him to learn how to find his own way to develop products with minimal systems or processes in place. “Every engineer should get their hands dirty in the early phase of their career,” he adds, emphasizing the importance of building a solid foundation in problem-solving and practical skills. Later Prasad’s Graduated as a Industrial Engineer (2004) and also upgraded himself by completing MBA in Marketing (2007).
He further mentions that his career progressed through various roles, starting with manufacturing and moving to product design and development. He reflects on the evolution of tools over the years, from working with AutoCAD in the early days to advanced design systems later. He describes the hands-on experience of designing components and developing tools, which gave him a deep understanding of the entire product development lifecycle.
As he moved into quality and issue resolution teams at companies like Mahindra & Mahindra and Caterpillar Inc (USA), he gained another perspective—understanding customer feedback and investigating, why designs fail in the field? “It gave me a complete dimension of the other side of the island,” he says, highlighting how this experience helped him refine and improve designs to meet customer expectations better.
Mr. Prasad starts by saying that every designer or creator feels proud of their work, and it’s normal. “I was like that too early in my career,” he says. Creating something, seeing it come to life, and being able to hold it, feels great.
But then comes feedback, and it can hurt. “I’ve had moments where a colleague or customer said it could be better, and it stung,” he shares. Even recently, senior management told him to get customer feedback before finalizing a product. It’s tough, but it teaches you to focus on what the market and customers really needs.
He explains that being open to feedback is important. You need to listen, analyze it, and figure out how to improve. Testing and feedback are critical in making good products. He shares how they start by listening to customers. They show early concepts or prototypes and ask for their thoughts. “Sometimes feedback is harsh, but it’s necessary,” he says. They take notes, prioritize changes, and adjust the design to match customer needs.
Understanding how people use a product is also key. He talks about studying the “duty cycle”—how a product is used in real life. For example, a car’s reverse gear is for slow movements, not high speeds. If the design doesn’t match real use, it won’t work.
He also stresses the need for proper testing. Verification checks if the product meets legal and safety rules, and validation ensures it’s durable and reliable. Skipping these steps can lead to failure, hurting the brand and losing customer trust.
For startups and innovators, his advice is simple: take feedback seriously. He remembers when they used to test products only before production, which led to rework after customer feedback. Now, they collect feedback at every stage, which helps fix issues early and saves time and effort.
Mr. Prasad shares that he is the R&D Head at Ammann India, responsible for managing the entire engineering process. This includes defining strategies, creating roadmaps, executing them, and overseeing product development and launches to drive business value.
He leads a team of 44 members, comprising project managers, design and testing teams, and subject matter experts in electrical, electronics, and software. He draws from his extensive experience working with global organizations like Volvo, JCB, Caterpillar, and Mahindra to bring ethical practices and valuable insights to the table.
He explains that his responsibilities include fostering technological advancements, as R&D forms the foundation of the company’s business processes. He emphasizes working closely with management and his team to ensure both business growth and individual success.
He adds that, together with his team, they have launched several successful products, including emission upgrades and solutions for markets such as Europe and South America. He credits the dedication of his young and dynamic team for these achievements.
Early Life and Mentorship
Mr. Prasad starts by talking about his background. He grew up in a lower-middle-class family and had some great mentors, including his uncles—one worked in defense and the other in a big business group. They helped him understand both life and work better. From early on, he learned that if you have the right attitude, you can overcome anything. He believes that with the right approach, anything that seems impossible can be achieved.
Learning from Failures and Successes
Looking back on his career, Mr. Prasad says every failure and success taught him something. He has worked in different companies and seen different leadership styles. He learned from these experiences and used them to improve his own leadership. He strongly believes in the idea of learning by watching others, like the Japanese saying: “Seeing is the best learning.” This has helped shape how he leads and solves problems.
Challenges in Early Career
Mr. Prasad shares a tough time from his first job in a small company. There wasn’t enough equipment or support, and he had to deal with tough conditions. He recalls riding his bicycle in the hot sun with heavy materials because there was no other way to carry them.
Even though the situation was hard, he and his team worked hard to get the job done. There were also times when management didn’t trust them, which made things harder. He remembers one time when he had to use a cloth from the side of the road to protect his hands from hot parts.
Lessons Learned: Trust and Environment
From these tough experiences, Mr. Prasad learned two big things: first, it’s important to trust your team, and second, you need to provide a good environment for them to do their best work. While pushing people to do their best is important, he believes it should always be done with respect and without making them feel bad about themselves. Creating a supportive work environment is key.
In the end, Mr. Prasad says every challenge teaches you something. If you learn from those challenges, you can become a better leader. When the right opportunity comes along, you’ll be ready to take it.
Mr.Prasad says this is an important question because strategy is the foundation of everything, whether it’s business or any other endeavour. He shares his experience but makes it clear that it’s not a rulebook—just his insights.
Understand the Market
The first step, according to Mr. Prasad, is to understand the market you’re entering. Whether launching a new product or expanding into a new region, knowing the market landscape is crucial. For example, if introducing cars to a place where people have never seen them before, they can’t be expected to have the same mindset as people in developed markets. So, understanding the market is essential.
Understand the Requirements
Once the market is understood, the next step is to grasp the requirements. Mr. Prasad emphasizes that it’s not just about what the customer wants, but also about legal rules and compliance. If the strategy doesn’t align with these requirements, it won’t work, no matter how good the idea is.
Time to Market
After understanding the market and the requirements, Mr. Prasad stresses the importance of bringing the product to market on time. Delaying too long can lead to falling behind. For example, in the tech industry, if you don’t update products regularly, like a mobile phone every six months, you risk being outdated. He recalls an experience where a product they were supposed to launch in two years took four years, and by that time, the market had already moved ahead.
4.Watch Trends and Competition
Mr. Prasad explains that keeping an eye on trends and competition is the final part of the strategy. Trends include market size, growth, profitability, technology, and revenue. It’s important to monitor all these trends to ensure you’re on the right path. Stopping this monitoring can make you think you’re leading the market, but someone else could eventually take over.
Additionally, competition must always be observed. Competitors are likely thinking in similar ways, and learning from them can help stay ahead. Sometimes competitors are ahead, and sometimes they catch up. Recognizing this helps stay innovative and maintain a competitive position.
Example: Ford and Hyundai in India
Mr. Prasad mentions Ford and Hyundai in India as an example of his strategy. In the 90s, when they entered India, the market was small, and purchasing power was limited. Both companies struggled for years, and eventually, Ford pulled out. But now, with growing buying power, Ford want to re-enter because the market has changed. They didn’t stay alert to trends, and now they’re trying to catch up.
Mr. Prasad concludes that the key to success is monitoring four factors: market understanding, customer requirements, time to market, and competition. Ignoring any of these factors can result in falling behind. Moreover, trends and technology evolve quickly, so staying current is crucial, especially in industries like construction equipment, where customers are increasingly demanding high-tech features such as IoT and fuel efficiency.
In India, for example, the demand for better technology and safety standards is growing, but people still expect lower prices, which presents a challenge for businesses. Managing these competing demands while staying competitive is the real challenge.
Mr. Prasad says it’s definitely a tough challenge, especially in such a competitive market. He explains that, for example, they have an IoT system called Telematics, which allows monitoring a fleet of machines remotely, showing everything happening through dashboards. In Europe, these telematics systems are very expensive and come with lots of extra features.
However, in India, Mr. Prasad’s team developed a version of the Telematics system that better fits the local market needs. They focus on providing only the essential features required here, understanding that high-end features that would be useful in Europe aren’t as necessary in India. By adapting to the local market’s needs and simplifying the system, they can offer a more affordable solution.
Despite this approach helping to reduce costs, Mr. Prasad notes that the competition remains intense, making it an ongoing challenge to balance pricing with quality.
Mr. Prasad says that everyone should have a certain risk appetite, no matter what profession they are in. Taking risks is part of life – every day, people take risks. For instance, crossing the road is a risk in itself. Mr. Prasad recalls his own experience of commuting to his company, which was 50 km away one way. At one point, he noticed that his car was still scratch less, and he felt proud of his careful driving. But later, he realized that it’s not just about his driving. It’s about the other drivers being equally careful, so it’s a shared responsibility.
But when it comes to taking risks in business or innovation, Mr. Prasad says that if you don’t take risks, you cannot grow. Every time a person takes a risk, there’s an opportunity. Failures may come along the way, but there’s always a powerful learning that follows. Mr. Prasad explains that in his career, there have been times when he found himself stuck in problems, but he had to find a way out, which led to real learning.
The key point he emphasizes is that taking risks is all about stepping out of your comfort zone, and it’s necessary to grow. In R&D and innovation, one does not always know the outcome, but it’s essential to keep moving forward, taking risks, and pushing forward to reach new limits. That’s how success is achieved.
Mr. Prasad explains that when it comes to managing risk with the team, the first step is to give them the space to think and experiment. He says that in reality, teams often get caught up in meeting deadlines, launching products, and meeting business targets, leaving little room to think about trying something new or different. As a leader, Mr. Prasad believes it’s important to allocate time and create an environment where the team feels free to experiment, even if that means failing.
He emphasizes that failure isn’t the end of the world. He encourages his team to fail, as it’s part of the learning process. Of course, for some time-sensitive projects, risk needs to be assessed carefully. In such cases, a more calculated approach is taken, with risk assessments and mitigation strategies in place. But when it comes to encouraging innovation, Mr. Prasad encourages his team to be creative and take risks.
He sets up unstructured meetings, sometimes during lunch breaks or casual moments, where he plants ideas in their minds, even if they sound crazy. For example, he might suggest developing a new wireless technology for signal transmission, something new to their industry. While these ideas might seem unconventional, he encourages his team to think outside the box, knowing that they may fail but could still learn valuable lessons.
Mr. Prasad stresses the importance of being willing to take risks. If you don’t, someone else will, and they might capture the market space. He mentions how nobody thought about the possibility of smartphones before someone took the risk. He believes that every decision, whether big or small, carries some form of risk, and as a leader, he is willing to take that risk with his team.
At the same time, he acknowledges that failure brings accountability. He is answerable to senior management, as resources, time, and effort are all invested with the goal of creating business value. However, he trusts his team to make these decisions, and if the team succeeds, they take the credit, but if there is a failure, he makes sure not to demotivate them.
In this way, Mr. Prasad fosters a culture of innovation where risk-taking is encouraged, and learning from failure is seen as part of the process.
The Importance of Creativity in Business Success
Mr. Prasad begins by addressing the question of why creativity is essential. He identifies three key reasons: to achieve market leadership, sustain growth, and ensure long-term success. However, creativity alone isn’t enough, as demonstrated by the failures of companies like Kodak and Ambassador. Despite being innovative, they were unable to execute their ideas effectively and lost their market positions.
Creativity as a Driver of Innovation and Sustainability
Creativity, Mr. Prasad emphasizes, is crucial for companies to stay at the forefront of technology and make a lasting impact. He cites Volvo as a prime example of a company that continually pioneers new technologies and works on projects that address future market needs. Creativity, according to him, is the foundation for innovation and sustainable growth.
The Need for a Structured Process
While creativity is vital, it must be complemented by a structured approach. Mr. Prasad explains that all successful companies he has worked with implement structured processes. These processes ensure that business cases are well understood, market research is thorough, and designs are rigorously analyzed. This approach prevents the development of products that may be overly expensive or fail to deliver value to the business.
Ensuring Compliance and Maturity in Development
A structured process also ensures that products meet legal requirements and align with business values. Each stage of development follows protocols that guide the product’s maturity in terms of design, manufacturing, supply chain, and training. Without this structure, companies risk launching poorly executed products that fail to meet internal or market expectations.
Balancing Structure and Flexibility
Mr. Prasad warns against being too rigid with processes. He recounts working for a company where strict adherence to guidelines often stalled progress. Conversely, he highlights the effectiveness of agile processes that focus on achieving maturity rather than following every step exactly. The ideal approach, he believes, is a balance where creativity is encouraged but guided by necessary structures.
Adopting a Dual-Process Approach
In research and development, Mr. Prasad explains the use of dual processes. The mainstream process focuses on fixed deliverables and timelines, ensuring that the business objectives are met. Simultaneously, a sub stream process is reserved for creative and experimental development. New technologies or subsystems developed in this sub stream can later be integrated into the main product once they are mature, ensuring innovation without delaying product launches.
Balancing Innovation and Timelines
Mr. Prasad stresses the importance of not letting creativity delay product launches. While new ideas are crucial, they often need time to mature. By developing them in a sub stream and incorporating them into mainstream products later, companies can maintain a balance between achieving business value and fostering innovation.
Mr. Prasad emphasizes that creativity and structured processes must work hand in hand. This balance ensures that innovative ideas are nurtured while staying aligned with the company’s goals and timelines.
Mr. Prasad emphasized that every leader must develop strong business acumen. In any organization, every initiative must deliver business value. He highlighted the importance of aligning ideas and projects with organizational goals, ensuring they contribute to growth and deliver measurable returns.
He explained that to convince top management, it is essential to:
Demonstrate Business Value: Every idea should link to business growth, sustainability, or market leadership.
Use Data-Driven Insights: Prepare solid data, including market research, financial metrics (like ROI or NPV), competitive analysis, and market size.
Highlight Strategic Importance: Some innovations, like adopting AI or automation, may not show immediate financial returns but are crucial for long-term sustainability and competitiveness.
Mr. Prasad shared that a clear vision and preparation are crucial. Leaders should keep their presentations simple, structured, and focused on business benefits. He advised involving top management from the beginning to create alignment and gradually build support for ideas.
He further emphasized that successful leaders work collaboratively with senior management, ensuring transparency and clarity. By articulating a well-supported vision and demonstrating how it aligns with the organization’s goals, leaders can effectively secure approval for innovative projects.
: Mr. Prasad explains, “Number one is that any idea or innovation should have value attached to it—it’s not about being fancy or nice to have. Early in my career, even I was tempted by such things, but over time I realized that every idea and innovation involve time, money, and effort. It has to directly link to business objectives, otherwise, it will eventually fail.”
He adds, “Some companies invest in innovation intentionally for long-term strategic goals. For example, Apple and Samsung lead in their industries because they invest heavily in technologies that will define the future. At the same time, companies like Reliance focus on affordable innovation, ensuring their products are accessible while still driving growth.”
He explains further, “As an R&D leader, it’s important to know your market and landscape thoroughly. You should be able to anticipate trends and align your innovation efforts with long-term goals, whether it’s creating disruptive market innovations or offering affordable solutions. However, strategic alignment is critical, and you must always consider the customer’s needs and the business value of the innovation.”
He concludes, “In conclusion, aligning innovation goals with business objectives requires focus, market awareness, and a commitment to delivering affordable yet impactful solutions. It’s not just about technology but also ensuring that innovation complements the organization’s growth strategy.”
Mr. Prasad shares his views:
He explains with an example from Ford. Recently, he saw a video from Ford’s CEO, who mentioned that while their vehicles were great on the test track, they didn’t know how the software for those vehicles was working because it was developed by a separate company. He highlights that OEMs (Original Equipment Manufacturers) sometimes outsource key technologies, which can lead to losing control over important features. He further explains that in his own industry, for example, a German company provided technology that his team used. However, his company eventually decided to develop its own software to avoid dependency.
Mr. Prasad adds, when it comes to licensing, there’s a balance between affordability and control. Companies might opt for licensing when they can’t afford to develop the technology in-house, but over time, many prefer to bring such capabilities in-house to maintain control over the product. He elaborates on how some companies choose to develop their technology internally, even when it takes years to build the necessary capability.
Mr. Prasad explains that licensing agreements often come down to a company’s ability to afford licensing fees versus developing the technology independently. For instance, while his company has used licensed products for certain components, they also focus on developing their own technologies based on strategic decisions.
He concludes saying that the companies generally aim to reduce dependency, maintain control, and make sure they can handle timing more effectively. This helps them stay agile in a competitive market.
Mr. Prasad explains:
Innovation, when driven by strategy, is crucial for aligning with both short-term and long-term goals. He emphasizes the importance of understanding both the current needs and future objectives, which enables a leader to present a clearer value proposition for innovation. He stresses that the market, customer value, and business value should be clear before proceeding with any innovation. Additionally, affordability is a key consideration—not just for customers, but for the company’s budget as well. He uses the example of an expensive nuclear battery technology to highlight the importance of evaluating whether such innovations can be afforded, both in terms of time and investment, and whether they will provide value over the years.
He adds, when focusing on short-term and long-term innovation, it’s crucial to consider sustainability and customer needs. A leader should have clarity on the market and be aware of the potential value innovation can bring. He notes that even simple innovations can offer significant value to customers. For example, he references how Mahindra introduced charging ports in their bikes and how customers have started asking for similar features in machinery.
He shares an example from his industry where small features, like providing a charging port, can bring major benefits to customers. These features may not be groundbreaking inventions, but they provide significant value. He also mentions that his company has worked on a technology for off-highway equipment. These machines, often used in remote locations, now feature an automatic lighting system that helps operators navigate safely at night.
Mr. Prasad continues and talks about a development his team worked on, where they wanted to introduce a remote-controlled lighting system that would activate the lights around the vehicle, even from a distance. This system would use a sensor to detect where the operator is, and the lights would automatically direct towards the operator’s location. He notes that such innovations are affordable yet provide great value to the customer, and they contribute to higher sales over time.
He emphasizes that innovation doesn’t always have to be a grand invention. Small, thoughtful improvements can make a product more sellable and attractive to customers. Over time, as affordability and customer expectations evolve, such features can contribute significantly to product sales and success in the market.
Mr. Prasad highlighted that this is a very interesting and necessary question in today’s context. He explained that as India evolves, so do generational thought processes, and it’s essential to adapt to these changes while maintaining clarity.
When it comes to hiring, he focuses on three key qualities in a candidate:
Attitude: According to Mr. Prasad, attitude is the most critical factor. A candidate with the right attitude can navigate challenges such as working with strict managers, managing tight budgets, or dealing with difficult deadlines. He emphasized the importance of positivity, being open to failure, and avoiding premature judgments about others. For example, people often form perceptions based on appearances or body language, but working closely with someone often reveals their true potential.
Discipline: Mr. Prasad explained that discipline ensures tasks are executed in a systematic and consistent manner. Just as studying for exams requires structured effort, professional success depends on maintaining discipline in day-to-day activities. He cited books like Four Disciplines of Execution, which highlight the importance of setting weekly goals aligned with organizational objectives and tracking progress.
Self-Motivation: Mr. Prasad believes self-motivation is essential, especially when efforts go unrecognized, or ideas are delayed due to business priorities. He stressed that a self-motivated leader could inspire their team to remain resilient, even in tough times.
While experience and background are important, Mr. Prasad prioritizes attitude, discipline, and self-motivation. He added that each individual is unique, and it is the leader’s responsibility to identify their talent and align it with organizational needs. He also believes in reassigning roles if someone doesn’t excel in their hired position to make better use of their strengths
Mr. Prasad acknowledged that this is an excellent question and shared his insights. Reflecting on his earlier career, he noted how difficult it was to understand why resumes weren’t shortlisted or interviews weren’t cleared. However, now, as a recruiter, he has a clearer understanding of these nuances.
To assess a candidate’s attitude, Mr. Prasad employs the following strategies:
Probing for Examples: He asks candidates for detailed examples of their work to uncover whether their knowledge is genuine or superficial. A polished resume or rehearsed answers cannot replace the depth of real experience, he noted.
Behavioural Insights: Mr. Prasad explained that he closely observes candidates’ problem-solving approaches and their responses to hypothetical challenges. He mentioned that within a couple of minutes, it becomes apparent whether a candidate’s attitude aligns with organizational values.
Despite thorough evaluations, Mr. Prasad admitted that there are instances where a candidate might not perform as expected. In such cases, he focuses on the following:
– Evaluating the candidate’s strengths and exploring alternative roles that better align with their abilities.
– For example, if someone hired for an engine systems role lacks core expertise but shows aptitude in vehicle integration, he transitions them to a role that leverages their skills.
In conclusion, Mr. Prasad emphasized that hiring is not about finding a “perfect” candidate but about identifying potential and nurturing it. He believes every individual has unique strengths, and it is the leader’s responsibility to bring out the best in them.
Mr. Prasad emphasizes the importance of leadership and mindset in shaping the success of an organization. He begins by highlighting the need for leaders to create an environment where team members can thrive. Despite the constant demands of deliverables and business objectives, leaders must empower their teams by providing space to innovate and grow.
He points out that many R&D professionals lack knowledge of critical processes such as filing patents or design registrations. Leaders must be proactive in educating and encouraging their teams about these opportunities. Organizational policies play a key role in fostering innovation, and companies must have structured frameworks to guide and motivate employees.
Mr. Prasad shares an example of how some companies provide royalties for innovations, even after employees leave, while others stop these payments upon departure. He notes that these policies vary across organizations, but the focus should remain on encouraging innovation through clear frameworks and rewards.
Innovation should not be limited to R&D alone but should extend to areas like manufacturing, supply chain, and beyond. Leaders must organize workshops, show industry trends, and encourage their teams to explore technologies in related fields such as aerospace or automotive, as cross-industry ideas can bring fresh perspectives to their work.
According to Mr. Prasad, a leader must first believe in the value of fostering innovation. They must provide time, resources, and encouragement to their teams, ensuring that innovative ideas align with business goals. Without such initiatives, organizations risk falling behind in the competitive race.
He also mentions that recognizing contributions through inventorship, patents, or monetary rewards can serve as motivation for R&D teams. However, policies differ by organization regarding whether inventorship or royalties remain with individuals or revert to the company when an employee departs.
Mr. Prasad asserts that leadership in R&D should go beyond daily tasks. Leaders should focus on nurturing creativity, empowering employees, and ensuring continuous learning to drive organizational success.
Mr. Prasad explains that leadership styles often evolve based on the situation and the needs of the team. While certain tasks may require a demanding approach to ensure deliverables are met, he primarily adopts a democratic or coaching style of leadership.
He emphasizes the importance of a two-way learning process where both leaders and team members exchange ideas and learn from each other. Coaching plays a pivotal role in guiding team members to develop the right attitude and skills for their roles.
Reflecting on his experience, Mr. Prasad shares an example of his former boss, Mr. Tony Zambito, who was widely regarded as a “people’s man.” Mr. Zambito dedicated significant time to understanding his team’s concerns, coaching them, and providing technical training. Inspired by this approach, Mr. Prasad adopts similar practices.
He believes that an authoritative leadership style is generally irrelevant in R&D unless it’s absolutely necessary. Instead, when team members have clarity on expectations and are supported, they willingly align with the leader’s vision.
To keep the team motivated, Mr. Prasad emphasizes spending time with them, addressing their professional and personal concerns, and supporting their aspirations such as pursuing higher education or advanced training. By doing so, team members feel valued and cared for, which fosters loyalty and productivity.
Lastly, Mr. Prasad highlights that effective leadership is about providing clear guidelines, fostering open communication, and nurturing a supportive environment where team members can thrive.
Mr. Prasad explains that the primary difference he sees is that India is still catching up in terms of technological advancements compared to the Western world. He shares that in the West, there is sufficient time given for people to think creatively and work on innovative solutions. Leadership in the Western world often demands some kind of new, evolving technology and actively encourages teams to focus on long-term innovation.
In contrast, he observes that in India, the focus has traditionally been on fulfilling immediate business needs. Employees are often directed to do what is required to meet current goals, rather than being encouraged to think beyond the present. This difference, according to Mr. Prasad, can be attributed to cultural aspects that prioritize delivering on immediate tasks over investing in innovation for the future.
However, he acknowledges that the trend is changing in India. The recognition of individuals for their innovative work is becoming more common. In the Western world, recognition is often much more open and transparent, whereas in India, contributions are sometimes “encashed,” and the credit might not always go to the individuals responsible.
Sharing his own experience, Mr. Prasad reflects on how, during his earlier career, he was never taught about patents, even though he worked on several innovative designs. As a result, he lost the opportunity to secure patents for his work. To ensure his team members do not face the same missed opportunities, he has implemented a policy where every designer in his team, from the junior-most to the senior-most, is encouraged to apply for patents.
Mr. Prasad emphasizes that having patents under their names is now part of his team’s goals. He motivates them to develop innovative concepts, present them, and apply for patents. He believes that, collectively, such efforts across companies in India will enable the country to become a leader in innovation.
He concludes by acknowledging that while India is catching up, there is still a long way to go. However, he is optimistic that with consistent efforts, India will continue to close the gap and emerge as a global leader in innovation.
Mr. Prasad begins by acknowledging that artificial intelligence (AI) is playing a significant role in shaping the future, but he also expresses some concerns. “It’s a bit scary,” he says, “because life is moving at a very fast pace, especially with AI coming into play.” However, he is optimistic about the advancements in both the automotive and construction machinery sectors.
He highlights that while the automotive industry is already highly advanced in terms of technology and quality, the construction machinery industry is catching up. He recounts his experience in the construction equipment business since 2010 and notes the rapid evolution in this sector.
One example he shares is from six years ago when Volvo Construction Equipment demonstrated a technology at an Excon event. Using this technology, machines such as haulers, dump trucks, and excavators could be remotely operated from one location, with the equipment interconnected and electrically operated, even self-charging on-site. This demonstrated the level of innovation possible in the industry.
Key Trends and Challenges:
Customer Expectations and Affordability: Mr. Prasad notes that customer expectations have risen significantly. While technology in the automotive sector is more affordable due to higher production volumes, the construction machinery sector struggles with affordability because of its comparatively low production volume.
Electrification and Autonomous Machinery: He mentions that massive construction equipment, such as 30-ton loaders, is now powered by batteries. Electrification is taking over the industry, and hybrid vehicles are also becoming common.
Autonomous machinery is another area of focus. Features like automated diagnostics, voice recognition, and even auto-braking are being explored. These advancements aim to reduce complexity and improve operational efficiency.
Advanced Farm Equipment: Mr. Prasad shares an example from the agricultural sector, mentioning companies like John Deere. Modern tractors and farm machinery are equipped with advanced technology, including sensors that map fields to optimize harvesting. “If I show you today’s tractors, you won’t believe they have LED lights and advanced sensors,” he says.
3D Scanning and Paving Technology: He explains that paving machines now have 3D scanning capabilities. These sensors can perform a 360-degree scan to ensure precise leveling and surface preparation.
Emission Regulations and Global Disparities: Emission norms and regulations vary across countries, impacting the affordability and adoption of advanced technology. For example, India has moved to Stage 5 stringent norms, while other regions, like South America and Russia, still adhere to less strict Tier 3 norms.
Despite affordability challenges, Mr. Prasad is confident that the industries are advancing rapidly to meet customer and market demands. “With AI coming in, we are looking at a whole new level of possibilities,” he states. From autonomous machinery to advancements in emission controls and electrification, the future holds immense potential. However, he emphasizes that affordability will remain a key factor in how widely these technologies can be adopted globally.
Mr. Prasad shared a personal innovation theory that he developed through his years of experience, drawing from both his successes and challenges in his career. He explained his approach step by step, focusing on key leadership practices that have helped him drive innovation and effectiveness in his teams.
Identifying and Nurturing Talent:
Mr. Prasad emphasized the importance of identifying the unique strengths and weaknesses of every individual on the team. He believes that as a leader, it’s crucial to recognize that every person has a distinct skill set. He said, “Every individual is unique. They have certain strengths and weaknesses. As a leader, you have to identify those strengths and weaknesses.” He explained that once you spot a person’s strength, it is essential to focus on that and help them develop it further, enabling them to contribute more efficiently and effectively. His advice was clear: “If you spot a strength, dwell onto it and help them focus on it so they can contribute in a better and more efficient way.”
Building Trust: Building trust, according to Mr. Prasad, is fundamental to leadership. He stressed that trust should not take years to develop and should be built quickly to help teams move forward effectively. He noted that, “As a leader, you have to trust your team. But it can’t be blind trust; it takes time, but it shouldn’t take years.” He explained that trust should not only be reserved for the senior team members. For instance, he mentioned that even if someone doesn’t have specific experience in a particular area, he gives them the opportunity to prove themselves. “I give an opportunity to people even though they are not from one specific system or function area,” he said. “If they have the right mindset, I give them a chance to perform. There may be glitches in the initial phase, but I’m proud to give that opportunity.” In his view, quickly placing trust in team members helps to avoid lengthy testing and builds a foundation for productivity and innovation.
Empowering Your Team: Mr. Prasad firmly believes in the importance of empowering team members. He explained that leaders should give their team proper tools, space, and autonomy to make decisions. Empowerment, he said, means enabling others to make decisions without feeling micromanaged. “Empower them to take decisions,” he advised. “You don’t have to micromanage. By doing so, they learn how to align with you and the organization’s goals while taking ownership of their work.” Mr. Prasad further elaborated on this by sharing his experience of letting intermediate leaders make decisions within their scope. “You can have review sessions to ensure everything aligns, but ultimately, empower them to make decisions. This helps them grow and aligns them with the bigger picture.”
Embracing Failure as a Learning Opportunity: Mr. Prasad highlighted that failure should not be something feared but something to be embraced as part of the learning process. He said, “Success is celebrated, but we should also celebrate failure.” He emphasized the importance of allowing team members to try new things, even if it leads to failure, and supporting them throughout the process. “Failure happens at your leadership level,” Mr. Prasad explained. “You have to protect the team when they fail.” He advised leaders to walk alongside their team when they face challenges and to provide them with consistent feedback. “Let them fail and help them walk through it. It’s important to have a constant review with them. Sometimes, if there’s a roadblock, get more people together—two or three heads—so you can see things getting done faster.”
Recognizing and Rewarding Efforts: Mr. Prasad stressed that recognition plays a crucial role in motivating and retaining talent. He explained that recognition isn’t only about monetary rewards; it’s about acknowledging team members for their hard work and contribution. “Recognize and reward them,” he said. “If you don’t recognize your team, they might feel unappreciated. Recognition can include anything from simple acknowledgment to proper compensation. If your team is constantly performing well, ensure that their efforts are appreciated.” He also pointed out that some organizations don’t have proper recognition policies in place, which can lead to disengagement. “Companies need to have policies in place for recognition, including things like patents or achievements,” he added.
Mr. Prasad explained that leadership qualities are not innate but evolve through experiences. He emphasized that the most important aspect of leadership is the right mindset and attitude. His advice for upcoming innovation leaders includes:
Learn from Seniors and Parents: Mr. Prasad believes that one’s leadership journey starts with learning from parents who impart core values like discipline, hard work, and sacrifice. These lessons serve as the foundation for future leadership.
Observe and Learn from Others: As individuals enter the corporate world, Mr. Prasad encourages them to observe senior leaders, colleagues, and peers. This helps them learn both from successes and mistakes, enabling them to adapt and refine their leadership skills.
Develop Your Own Leadership Style: While books and theoretical knowledge are helpful, Mr. Prasad suggests that a leader should focus on developing their own unique style through personal experiences. Leadership is a journey of constant evolution, and practical application of learned strategies will help create an effective approach.
Mr. Prasad noted that he has used these strategies throughout his career and found them effective.