Innovation

“The heart and soul of a company is creativity and innovation” – Bob Iger

Mr. Nitant Prabhu Kholkar, a Director at Lift Controls Pvt. Ltd. firmly believes in the above saying and he along with his partners and associates has built the company on these principles. “At Lift Controls Pvt. Ltd. we have done a few innovative things which not only benefit us, but will benefit all the stakeholders involved with the product” says Mr. Kholkar.

Lift Controls Pvt. Ltd. has started the in-house designing of elevator control systems. This not only incorporates the inputs of design but also, manufacturing the mechanisms for elevator controls which is an integral part of the innovation in the company. An electrical engineer himself, Mr. Kholkar says, “The self-designed elevator controls are being implemented and regular improvements are being made for better efficiency. This will not only benefit the business but will also help in cost savings for the customers and the company”.

The use of Aluminium Honeycomb Panels used for the making of elevator cabins is something that the company is planning to add to its already existing portfolio of product offerings. The use of such material contributes immensely to the reduction in weight, increase in stiffness and fire resistance among many benefits to the elevator. This innovative approach, according to the business partners, has immense potential to take the business across the boundaries, not only out of Goa but also beyond the nation and place itself on the world map.

Inspiration

“We, by virtue of being engineering graduates and specifically electrical engineers always have the knack for an odd attempt to try something new” says Mr. Kholkar in an informal tea-time conversation. The in-house design and manufacturing of controls have not only motivated the business partners to come up with newer things, but also the other staff and employees at the firm. This can be attributed to job enrichment principle of basic organization behavior.

Mr. Kholkar also says that the employees feel happy and satisfied while carrying out new tasks. The staff relates the success of the new product(s) in terms of technological advancements and its contribution to the financial growth of the company to a sense of accomplishment. “The employees see the success of the company as their own success and this keeps them going every day for a new challenge”.

Also with different companies innovating in many different domains, it has also triggered the need for development and innovation. The use of fibers and composites have benefited the industry as a whole in terms of design and manufacturing. Taking this into consideration, Lift Controls Pvt. Ltd. also decided to venture into enhancing the quality of their product offerings by the use of Aluminium Honeycomb panels. The use of such material has a lot of advantages and multiple applications. This has the potential to take the business across the boundaries as well. This acts an added motivation for the company as a whole.

Overall impact

When asked about the impact that the innovation would make Mr. Kholkar said: “We are trying to be very competitive and expecting substantial volumes and since this is a new product we are free to distribute it in domestic as well as international market.” As far as employees are concerned they would feel happy that they were a part of the design of the new product. And obviously with this innovation, along with all other stakeholders, they will grow too.

Building inherent branded products under Lift controls is the long-term vision of the firm. “By December end, the prototype of the newly designed controller should be ready” he said with a grin on his face. This prototype would then be tested in several functional as well as environmental aspects. The sample of the products would be tested initially in the market so as to get a clear view of its potential. This would thereby be the biggest achievement for the firm in this financial year apart from the sales figures that it has achieved. This is in line with the company’s constant desire to explore, innovate and succeed.

Business benefit

According to Mr. Kholkar, "the innovation the company is made is not only for making profits but has a greater good of serving society and solving problems." But having said that, said innovation, which is the elevator control is a direct competition to the narrow list of controllers that are available in the market, and since the company is planning to launch the product at the same or lower rate than what is already existing in the market, they have the potential to acquire a large chunk of existing market share. Lift Controls’ already existing market contacts can help them in this.

The second product they’re making is the elevator panels of the aluminum honeycomb, which are lighter than the existing products and hence efficiency and durability is greater than the already existing product in the market. This had opened new markets for the company.

As Mr. Kholker mentioned, "Lift Controls is thinking very competitive when it comes to these new products and are expecting a big volume of order." This being the product of the company itself gives them the liberty to sell the product across the country and also abroad as a few companies have already shown interest. This product is expected to raise the revenue and value of the company due to national and international investments as inferred by Mr. Kholker in the interview.

Having own product brand of the company also gives employees a sense of accomplishment and also helps them grow with the company, which intern helps the company as a whole. Also, this new product has opened an opportunity for other people/companies to invest in this new product and be a part of the success story.

Social and environmental benefit

As Mr. Kholkar mentioned in his interview, the whole company works on the principle of Sustainable Manufacturing, where the products are designed through economically-sound processes that minimize negative environmental impact while conserving electricity and natural resources. The company in its processes is completely pollution free. All the processes are checked thoroughly periodically to make sure they do not cause any hard to the environment.

The biggest hindrance that the company faces in maintaining this way of working is from the raw material that they procure. This raw material comes with a packaging that, if dumped in open, can harm the environment. Mr. Kholkar said they tackle this problem by outsourcing the disposal of this packaging to a contractor who is certified by the Goa State Pollution Control Board and then personally making sure he carries his work out properly.

For the inherent way of giving back to the society, Mr. Kholkar said his company, Lift Controls Pvt. Limited has 70% of the staff from the same area where the company is located and is looking forward to hiring and give employment opportunities to localites first. The company has also seen many small stores emerging in the vicinity of the company in the last two years. These shops enjoy positive externality from the company and most of their customers are the people working in the company.

Interview

Nitant Prabhu Kholkar, Partner