The word innovation derives from the Latin word innovates, which is the noun form of innovare “to renew or change,” stemming from in—”into” + novus—”new”.
Innovation differs from improvement in that innovation refers to the notion of doing something different rather than doing the same thing better. Innovation differs from invention in that innovation refers to the use of a better and, as a result, novel idea or method, whereas invention refers more directly to the creation of the idea or method itself.
Are Malaysian companies responding to their current customer or organisational needs? Are they anticipating future trends and developing ideas, products or services that allows them to meet this future demand rapidly and effectively?
This week Business Circle talks to distinguished experts and experienced practitioners in fields as varied as communications and market research on how Malaysian companies can stay on the cutting edge of innovation.
David Frigstad serves as the chairman of Frost & Sullivan. Frost & Sullivan provides research and growth consulting support to Fortune 1000 clients in all global economic centers with its 25 country offices .
Glen joined Social Innovation Camp in 2010. He has been consulting to social ventures in the UK, sub-Saharan Africa, and the US since 2008. Glen has 15 years of operational and technical experience, including running his own social performing arts group in New Orleans, managing the IT operations for Burning Man and managing IT and operations departments in Silicon Valley. Glen is a trustee for Appfrica, a school governor for St John’s Angell Town primary school, and on the advisory board for In the Picture.
Fadzilah Ahmad Din is the Senior Director of the Business Development Division of SME Corp Malaysia. Its role was to formulate strategies for SME development across all economic sectors, coordinate the tasks of related ministries and agencies, encourage partnership with the private sector, as well as ensure effective implementation of the overall SME development programmes in Malaysia. Initiatives under NSDC included enhanced access to financing, financial restructuring and advisory services, information, training and marketing coordination, and a comprehensive SME database to monitor the progress of SMEs across all economic sectors.
Dr Mazalan Kamis is the CEO of Yayasan Inovasi Malaysia. Yayasan Inovasi Malaysia’s vision is to promote and inculcate creativity and innovation among Malaysian citizens, especially targeting children and youth, women, rural folk, people with disabilities and non-government organizations.