Here are a few takeaways from his informative presentation.
Ram Charam begins his keynote session by asking the question ‘Why do 90% of accountants not turn into CFOs? Most accountants can’t make the linkage to the outside business and do not see the connections. There are many CFOs who do not have an accounting degree, but they are able to see the bigger picture.
Innovation is different from invention. Invention is the generation of an idea. Innovation, though, is conversion of an idea into money making. That is the viewpoint of a CEO.
Innovators must follow business acumen
1. Will this idea engage more revenues or acceleration of revenues
2. Will it accelerate profit margin and growth margin
3. Will it enhance the brand
How do you convert insights into revenue into margins? Ram Charam takes a look at the iPod which has no new technology in it. Brands also need people to view and see their social responsibility.