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Business / Archive
24 December, 2008 11:43:23 | in economy
Innovating for Growth
By Jacqueline Saettone
A company’s survival today depends on innovation. If a company does not make an effort to render its product lines obsolete, soon enough a competitor will. The most innovative companies in the world are those which redefine the way in which their industries work. As a result of these efforts, they create a great deal of wealth. This ability to innovate is an intangible asset.
Consider, for example, Dell computers, which sells its product only by telephone or internet, twenty four hours a day, seven days a week and manufactures computer parts in various countries such as Malaysia and Taiwan. At any point in time, a client can enter their website and verify the state of their order. What is even more remarkable is that through its contrarian approach - this business concept is the opposite of what was the rule in the industry – it managed to give its clients something that neither IBM or Compaq were able to give them: A tailor-made computer.
tags : economy innovation growth peru
A company’s survival today depends on innovation. If a company does not make an effort to render its product lines obsolete, soon enough a competitor will. The most innovative companies in the world are those which redefine the way in which their industries work. As a result of these efforts, they create a great deal of wealth. This ability to innovate is an intangible asset.Consider, for example, Dell computers, which sells its product only by telephone or internet, twenty four hours a day, seven days a week and manufactures computer parts in various countries such as Malaysia and Taiwan. At any point in time, a client can enter their website and verify the state of their order. What is even more remarkable is that through its contrarian approach - this business concept is the opposite of what was the rule in the industry – it managed to give its clients something that neither IBM or Compaq were able to give them: A tailor-made computer.
Another innovative company is CNN. While television channels such as ABC, CBS and NBC offered a variety of TV programs with a traditional schedule which were aimed at their domestic market and had similar market shares, Ted Turner created a distinctive strategy. He decided to use cable technology, adopt an international approach and transmit news exclusively, twenty four hours a day. As a result of this, our lives changed completely. We now know what is happening in the rest of the world, instantly. And the audience has rewarded this innovation economically: Today, CNN is worth thousands of millions of dollars.
In Peru, several years ago, Wong shook the business world with its own innovation, offering a high level of service in a country in which companies had little competition and as a result, offered a low level of service. Wong’s employees exceeded our expectations by carrying our bags to our cars and by not allowing us to tip them, or by coming to help us when we seemed lost. This excellent service delivery capacity is an innovation generated by intangible assets such as the knowledge Wong’s workers had about the business, their motivation and their ability to think creatively. This means that Wong generated a very valuable intangible - it ability to deliver a high level of service - based on other intangible assets they already had (knowledge, motivation and their ability to think creatively). This competitive advantage, based on intangible assets, is difficult to imitate because there is no recipe to copy it. It is easier for a competitor to acquire the same technology than it is to copy a business concept which has specifically been developed for a company, such as Wong’s service delivery capacity.
Intangible assets are the nutrients of innovation and are important sources of wealth and economic growth. To exploit them, companies must learn to identify, measure them and develop methodologies to manage them.
Jacqueline Saettone: Professor, Universidad del Pacifico.
In Peru, several years ago, Wong shook the business world with its own innovation, offering a high level of service in a country in which companies had little competition and as a result, offered a low level of service. Wong’s employees exceeded our expectations by carrying our bags to our cars and by not allowing us to tip them, or by coming to help us when we seemed lost. This excellent service delivery capacity is an innovation generated by intangible assets such as the knowledge Wong’s workers had about the business, their motivation and their ability to think creatively. This means that Wong generated a very valuable intangible - it ability to deliver a high level of service - based on other intangible assets they already had (knowledge, motivation and their ability to think creatively). This competitive advantage, based on intangible assets, is difficult to imitate because there is no recipe to copy it. It is easier for a competitor to acquire the same technology than it is to copy a business concept which has specifically been developed for a company, such as Wong’s service delivery capacity.
Intangible assets are the nutrients of innovation and are important sources of wealth and economic growth. To exploit them, companies must learn to identify, measure them and develop methodologies to manage them.
Jacqueline Saettone: Professor, Universidad del Pacifico.
tags : economy innovation growth peru
3 Comments
# Marcos Ly says :
29 December, 2008 [ 01:04 ]
11 January, 2009 [ 02:43 ]
15 January, 2009 [ 10:51 ]
# Marcos Ly says :
29 December, 2008 [ 01:04 ]
I completely agree to your viewpoint Ms Jacqueline Saettone.I really and truly believe that innovation is the best cutting edge in business.# Free Millionaire Maker DVD says :
I teach English to International Trade Students and I am glad to inform you that I am going to use your article in one of my classes because some of my students have been in Japan and Bolivia and this info is going to enrich their knowledge and motivate them all to succeed in thir lives.
Marcos Ly from Leonardo Da Vinci Corporation,Trujillo-Peru.
11 January, 2009 [ 02:43 ]
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15 January, 2009 [ 10:51 ]
E-mail: tao-cus01@trans-china.com
MSN:tao-cus01@trans-china.com
Skype:cici-trans-china
http://www.trans-china.comGracias amigo,This is Cici from Trans-china logistics,It is a freight forwarder from China .Our head office in Xiamen,we have branch company in Qingdao,Shanghai,Ningbo,Shenzhen.Trans-China is focusingon Latin America business development ,especially Peru,we have good partners in each of Latin America,including Peru.we can offer the required service for your need.Now some shipping rates for you for your infomation,
POL
Destination Carrier 20GP 40GP 40HQ T/T VIA Valid Qingdao Callao MSC $1,450 $2,700 $2,800 36 BUSAN Jan Qingdao CSAV $1,500 $2,750 $ 2,850 34 BUSAN Jan Shanghai EMC $1,500 $2,700 $2,800 34 COLON Jan Shanghai CSAV $1,406 $2,606 $2,706 27 DIRECT Jan Shenzhen CSCL $1,475 $2,750 $2,850 30 DIRECT Jan Ningbo CSCL $1,475 $2,750 $2,850 30 DIRECT Jan Xiamen K-LINES $1,500 $2,800 $2,900 33 BUSAN Jan Qingdao LIMA CCNI $2,600 $5,200 $5,300 40 BUSAN Jan Shanghai CSAV $1,767 $3,092 $3,192 29 CALLAO Jan Ningbo CSAV $1,736 $2,836 $2,936 35 CALLAO Jan Shenzhen CCNI $2,200 $3,700 $3,800 42 CHIWAN Jan Qingdao PAITA MSC $1,450 $2,700 $2,800 38 BUSAN Jan Shanghai EMC $1,450 $2,900 $3,000 55 COLON Jan Shenzhen MSC $1,400 $2,600 $2,700 45 BUENA Jan Ningbo MSC $1,525 $2,775 $2,875 35 BUENAWTURA Jan Looking forward to your response and anything else you need pls feel free to let me know .Wish your business goes well !
Tks & B.regards!
Cici Qin
Customer Service Dept
Trans-China Logistics Co.,Ltd Qingdao Branch
Add:Room 1003,Power 8,Pacific Plaza,NO.35
Donghai Xi Road ,QINGDAO,CHINA.
Tel:0086-532-85025882
Fax:0086-532-85025939
M:13884956817
E-mail: tao-cus01@trans-china.com
MSN:tao-cus01@trans-china.com
Skype:cici-trans-china
http://www.trans-china.com
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