Professor Rishikesha Krishnan is the Director of IIM Bangalore and a leading expert in strategy and innovation. With over 140 publications spanning from academic journals to the popular press, Professor Rishi is an accomplished author and thought leader. In this conversation, Subbu and Professor Rishi discuss the steps to enable innovation in any organization, how to tap into the creative potential of employees, dealing with honest failures, and much more. Key Topics 0:25 - How Prof Krishnan was inspired to study innovation 2:00 - Biggest takeaways from researching innovation through all these years 3:35 - Four steps to successful innovation in an organizational context 7:10 - The pipeline, velocity and batting average problems when driving innovation 9:15 - Day-to-day behavioral factors that may slow down innovation 11:40 - The 'jugaad' way of innovating 13:10 - Low prices don't always equate to poor quality or sub-optimal user experience 16:00 - Have we crossed a tipping point in the startup ecosystem? 19:05 - Maximizing the creative potential of your people 22:30 - How to deal with honest failures 24:43 - The impact of managerial practices on driving an innovative culture  29:00 - Building and encouraging communities of practice  31:28 - Decoding empathy as a construct in design thinking 36:10 - Expanding methods to conduct customer immersion in the digital era 37:00 - Exciting innovations in the health-tech space