Role of innovation strategy in organizational success-the case of Micromax Informatics Ltd.

Most organizations make huge investments in terms of research and development, employee training and resource acquisition. But it is observed that the organization does not attain an acceptable amount of growth. In many cases this is due to a lack of a comprehensive innovation strategy for the organization as a whole. The paper analyzesthe case of Micromax Informatics Ltd. a prominent mobile handset manufacturer in India as an illustration of this.This paper brings out the role of an innovation strategy in organizational success by analyzing the market entry and success of Micromax Informatics Ltd. The company started its business by catering to the needs of rural India and succeeded in becoming one among the top five mobile handset manufacturers in India. But it was seen that the company lost its market share and could not achieve its expected growth rate. This paper analyses the reasons for this decline in growth rate and analyses the importance of innovation strategy for the company. The results of the study can be generalized to other companies in developing countries and can benefit the research community for conducting further studies.