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Unlocking the 5 Secrets of Innovation

“Managing innovation better may be the only way out of the abyss called commodity hell.”– Jeffrey R. Immelt

Can an organisation obtain continuous success without adapting to the ever-changing market landscape? The reality – maybe not. So how does one constantly stay relevant?

Innovation.

A term often bandied around – but has the word lost its true meaning?  As the market grows and economies progress, it is crucial for an organisation to constantly improve on existing technologies to create additional value to its consumers.

At the recent Innovating Malaysia Conference 2015, GE Reports had the privilege to listen to the brightest minds from leaders across various industries regarding their thoughts on innovation.

Read on for thoughts from:

Nicholas de La Giroday, the Country CEO of P&G for Malaysia, Singapore and Brunei

Azli Mohamed the Director of Growth Initiatives, Global Growth & Organisations from GE Malaysia

 

Freedom to Innovate

Is it possible for an organisation to achieve an innovation-driven culture?

Change comes from within. It is imperative to challenge employees to be constantly curious to breed a culture of innovation. “At P&G, we keep learning and adapting to changes based on our surroundings. We constantly strive to provide meaning in our day-to-day interaction,” P&G, Nicolas De La Giroday, CEO P&G Malaysia & Singapore.

The Power of a Simple ‘Thank You’

You’d be surprised at how a small gesture can change an employee. Providing a healthy environment where people are able to share their ideas openly and acknowledging these effort is the best way to cultivate a culture of innovation. As mentioned by Azli Mohamed, Director, Growth Initiatives, Global Growth & Organisations of GE Malaysia“The whole essence of innovation is never top-down or bottom-up, it happens across the board of company. Every employee has the ability to configure innovation in GE.”

Be a Good Listener

Knowing what consumers want and what works best in the market can help organisations drive innovation to the next level. Nicholas de La Giroday explains how P&G brings this to life, “We drive innovation through consumer understanding. By understanding the demand, organisations will be able to communicate with the consumers and deliver the best innovated product.”

Position it Right

Often, the key to success lies in finding the right strategy to enhance a brand’s reputation, while building trust with its consumers. An organisation needs to continue making realistic developments until it has identified its niche in the market. “The most important thing from the product and services standpoint is our go-to-market strategy. We establish our market placement by identifying different offerings for different clients. From there, it has helped us to innovate,” said Azli Mohamed.

 

Show Up Differently

Do what others dare not do. Muster the courage to take that leap of faith by introducing something new to your audience – a solution to help a simple everyday problem for example.

Taking a different approach at P&G, Nicholas de La Giroday said, “We continue to improve our products to be better at meeting demands. We do it differently as we bring our consumers to our lab for product testimonials before introducing them to the market.”

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