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Business / Archive
30 July, 2007 23:00:14 | in General
Executives are more focused on solving immediate problems
Info provided and translated by ALETEI CAPITAL
Interview in Gestión, March 28th, 2007 in Lima, Peru.
Managers spend less than 10% of their time in innovation
The liberalization of markets is undeniable and that is why it is important that companies defend their position in the market by applying new managerial techniques. Precisely marketing is one of the most dynamic areas of modern management, in the sense that one needs to focus on understanding consumer needs in order to innovate, said Aleteia Capital’s Chairman of the Board, Jacqueline Saettone Watmough.
She also mentioned that currently, organizations are transitioning from an economy of efficiency (where people’s tasks are more standardized) and from a knowledge economy, to a creativity economy, which is making creativity a more valued asset among managers.
Nevertheless, her assessment is that in our country most managers spend less than 10% of their time in innovation, while they should be spending 50%. The remaining 90% of their time is spent in solving immediate, day-to-day problems, with a short term vision.
“In order to be able to compete, it is important to learn how to foster creativity and to spend more time innovating in our organizations, transforming it in such a way that it produces results in the market”, she emphasized.
Local vs. Foreign
Saettone indicated that although local companies have an advantage in the sense that they know the market better, this does not necessarily mean they are more innovative, because that will depend on how well they know their customers and how well they use their empathy to anticipate their needs.
“In Peru, the concept of improving products and processes is very clear to us. This leads us to innovate and to be more efficient. However, it is the radical innovations that will generate more wealth for us.”, she said.
She highlighted that it is important to invest in research and development - not only in science and technology – but also on organizational, financial and commercial issues.
According to statistics provided by The State of Science in Buenos Aires, only 1.8% of Peruvian companies invest in R&D in these areas, versus 37.9% in Argentina, 23.9% in Colombia, and 18% in Panama. Furthermore, only 8% of Peruvian companies have developed activities geared towards innovation, versus 75.4% in Colombia, 72.6% in Argentina and 66.2% in Chile.
According to Apoyo Opinion & Mercado’s Second Annual Poll of General Managers, their first priority is to improve processes and their second priority is to improve products or services.
Local vs. Foreign
Saettone indicated that although local companies have an advantage in the sense that they know the market better, this does not necessarily mean they are more innovative, because that will depend on how well they know their customers and how well they use their empathy to anticipate their needs.
“In Peru, the concept of improving products and processes is very clear to us. This leads us to innovate and to be more efficient. However, it is the radical innovations that will generate more wealth for us.”, she said.
She highlighted that it is important to invest in research and development - not only in science and technology – but also on organizational, financial and commercial issues.
According to statistics provided by The State of Science in Buenos Aires, only 1.8% of Peruvian companies invest in R&D in these areas, versus 37.9% in Argentina, 23.9% in Colombia, and 18% in Panama. Furthermore, only 8% of Peruvian companies have developed activities geared towards innovation, versus 75.4% in Colombia, 72.6% in Argentina and 66.2% in Chile.
According to Apoyo Opinion & Mercado’s Second Annual Poll of General Managers, their first priority is to improve processes and their second priority is to improve products or services.
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