A distinctive competency is a unique or superior capability of the company. This capability allows it to offer a unique or superior value proposition to stakeholders and thus an unassailable competitive advantage. But to establish distinctive competency so that the firm can outdo its competition requires boards to be bold in embracing innovation. It is an unavoidable race for greater market share.
In a 2013 PwC study entitled, “Breakthrough Innovation and Growth”, it was found that innovation is a key driver of organic growth for all types of companies, regardless of sector or geography. It concluded that boards that make innovation a part of their overall strategy agenda often lead their companies towards substantial returns.
But for innovation to take root, mind-sets must change and this change begins with the board. In fact, a company will possess an enduring capacity to innovate only if its people (top to bottom) are mentally prepared to discover new opportunities and its accompanied risks.
This course is a one-day interactive workshop to enhance directors’ understanding of innovation, what is required to build an innovation strategy and culture, and the board’s role in innovation governance. The session will be facilitated by experts in the field who will share their perspectives and experiences on embracing innovation in today’s business environment.
- To provide an understanding on innovation, and how innovation can be a driver of change and progress.
- To discuss the barriers to innovation.
- To discuss the importance of the participants’ role in driving innovation.
- To educate participants about managing innovation portfolio.
- Definition of innovation.
- The importance of innovation in a globally competitive environment.
- Building a culture of innovation.
- Dimensions of an innovative strategy.
- The board’s responsibility in driving innovation and managing risks.
- The board’s role in managing innovation portfolios.
CPD Hours : 8
||S$720.00 (excl. GST)
||S$770.40 (incl. GST)
||S$990.00 (excl. GST)
||S$1,059.30 (incl. GST)
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