ECONOMIC TIMES ON INSTITUTE OF PRODUCT LEADERSHIP
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Senior executives from large tech companies like JPMorganChase, Cisco, and Infosys are attending the Institute of Product Leadership in Bangalore on weekends to learn how to build new software products. The executives brainstorm ideas, conduct customer surveys, build prototypes, and pitch their product ideas to experts, similar to how startups operate. Many executives want to switch from simply delivering existing IT services to creating new offerings, as startups increasingly disrupt the industry. About 15% of the Institute's 800 alumni have already left large companies to join growth-stage startups.
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ECONOMIC TIMES ON INSTITUTE OF PRODUCT LEADERSHIP
- 1. ECONOMIC TIMES ON INSTITUTE OF PRODUCT LEADERSHIP, 5 MARCH 2015 http://articles.economictimes.indiatimes.com/2015-03-05/news/59807929_1_top- executives-startups-software-product Senior executives from JPMorganChase, Cisco, Infosys brainstorming to build new products Krithika Krishnamurthy, ET Bureau Mar 5, 2015, 01.56AM IST Tags: • Sanjay Shah| • program manager| • Nasscom| • Kiran Kashikar| • JP Morgan| • iSpirt| • Infosys BENGALURU: A clutch of senior tech executives from multinationals like JPMorganChase, Cisco and Infosys is spending the weekends in the classroom to learn how to think about building products so that they remain relevant in a fast-changing sector that startups are disrupting every day. At the Institute of Product Leadership in Bangalore, these executives are expected to brainstorm ideas, conduct surveys outside malls or within closed doors, much like the way start-ups do. Post that, they build technology platforms and price their products, before pitching it to an expert panel. "IT doesn't deliver, and is being disrupted. Customers don't use about 60% of the software features. So why are we spending so much time developing it?" said Pugal Panneerselvam, 40, technology director at JP Morgan Chase, who has spent two decades in the software industry. The open acknowledgement by senior executives speaks volumes about the state of India's tech industry: Top executives have realize that it's "game over" on the cost arbitrage episode and that it is time to switch gears to creating new offerings. Panneerselvam now plans to launch his own venture called CKizen, a platform to facilitate better conversation with executives in organisations. "It calls for a serious introspection for everyone, especially at a time when large companies are feeling the threat of disruption from startups," said
- 2. Kiran Kashikar, a 33-year-old program manager at CGI who is taking the executive MBA course at IPL. IPL, which started in 2011, has also become a hunting ground for start- ups. About 15% of its 800-odd alumni have shifted jobs from large MNCs to growth stage startups. Executives looking at newer shores are propped by the exits in the start-up ecosystem, and newer MNCs setting up R&D centers in the country. "Macro innovations require these 10+years executives to rethink and redefine their careers. They suddenly have a very juicy career path," said Pinkesh Shah, cofounder of the IPL academy. It's a rising tide for sure: Over the past few years, iSpirt, a software product think tank and Nasscom's product council have continuously stressed on the importance of developing products. "As we evolve from client-centric creation to market-centric creation, we need people who have customer context, business context, competitive context beyond just technical expertise," said Sanjay Shah, cofounder of iSpirt. Brahmanand Reddy Patil, 39, travels from Pune every weekend to attend two eight-hour weekend sessions. The managing director of the Indian arm of Vector Informatik, a German automotive software company, now plans to develop products from the 25-year-old firm for the Indian automotive market. Juggling between work, family and school is no walk in the park, said CGI's Kashikar. "The running joke is you either need want the mattress or mosquito coil: the former if your wife kicks you out, the latter if your family kicks you out," he said candidly. Equipped with newer skillsets, Kashikar is now managing a portfolio of three products, and has an option to incubate his ideas within the company as well. "The service game is about making everything efficient. But in product thinking entails a different mindset: who are you designing it for, how much will you charge, who will pay?" said Manish Bajpai, senior product manager at Infosys, who is implementing newer ways in the manner in which his team works. Product thinking involves making the customer a priority and Sushma Rai, 37, program manager at Cisco Video Technologies India, is doing just that, hoping that this will give her career a leg up in Cisco.