Living in Peru : your everyday companion

Info provided and translated by
ALETEI CAPITAL

“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.