5) Tata Motors

Tata Motors ranks 5 on this list. Innovation is a part of legacy at Tata Motors. People across all levels of the firm strive to bring continuous innovation in its processes and products. Tata Motors aims at innovating in 3 fields – Products, Processes and People. It has created many breakthrough products like - 407 platform in LCV players during the 1980s, Tata Indica (spacious like Ambassador and contemporary features like Maruti Zen) in the 1990s, Ace - India’s first mini-truck launched in 2005, Tata Nano – the People’s Car and world truck. It has adopted the following processes - Tata Business Excellence Model (TBEM), Free-Markets/ ARIBA for e-Sourcing, Supplier Relationship Management (SRM), PLM, Advanced Computer Aided Design (CAD), ERP and SAP, Customer Relationship Management, Institutionalized Stage Gate process and Internalization philosophy. With respect to people, Tata Motors is known for identifying and nurturing leaders. This is done through - Identifying leaders through assessment centres, putting them into challenging assignments and giving them International exposure and breaking the functional silos by shifting from a hierarchical organization to a more CFT approach.