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Education has become competitive so as the educational institutions. In order to survive the competition, institutions have to improve the quality of their services. Changes in culture, aspiration and levels of skills required in securing employment for students, force higher education institutions today to rework on their educational models and add value to each and every aspect of their service. Innovations and best practices serve to enhance quality and add value. Srinivas Institute of Management Studies (SIMS), which combines technology, management and social service education has identified and implemented innovations and best practices to differentiate itself among the competitors and to add value in its educational services. In this paper, we have discussed innovations, small and big, develped indigineously and implemented during last four years. They are broadly classified under six key aspects namely "curricular aspects, teaching-learning and evaluation, research, consultancy and extension, infrastructure and learning resources, student support and progression, and governance, leadership, and management". The paper also contains some of the intitutional and individual faculty best practices having visible impact on the quality of higher education imparted by the institution. The best practices concern admission, fees, attendance, teaching, performance, skill building, employability, student involvement, collective learning, value addition, ensuring transparency, information dissemination etc. Finally, two institutional best practices are elaborated with its aim of practice, underlying principles and concepts, particular contextual features or challenging issues that have had to be addressed in designing and implementing the practice, and its implementation, including its uniqueness in Indian higher education, evidence of success, identifying the problems encountered and resources required to implement the practice.