IBM started as a maker of cheese slicers more than a century ago, and today is one of the largest technology companies around. The key to this longevity, according to Mr Eric Yeo, Country General Manager, IBM Vietnam, is IBM’s pursuit of relevance through constant business reinvention and innovation. This was one of several timely insights discussed in regards to innovation, at the SMU Postgraduate Career Services (PGCS) International Speaker Series held in Ho Chi Minh, Vietnam, on 19 July 2018.

Themed “Corporate Reboot: Innovate?”, the second edition of the series was attended by more than fifty business leaders, academics and alumni. Members of the industry from diverse industries, ranging from electronics and consulting to education and financial services, convened at Sofitel Hotel to participate in the discussion on how businesses can adapt to survive, and flourish in a global economy that is being disrupted by the fourth industrial revolution.  

Ms Leow Siu Lin, Consul-General of the Republic of Singapore, graced the event with welcome remarks.  Dr Ang Ser Keng, Vice Chairman of Executive Committee & Director, UOB-SMU Asian Enterprise Institute Academic Director, SMU MBA, Academic Director, IE-SMU MBA then delivered a masterclass on the potential of innovation to impact various aspects of the financial statements of a business. 

This was followed by a panel discussion on the importance of innovation to organisational competitiveness. Panel speakers comprised Dr Ang Ser Keng; Mr Hieu Tran, Co-Founder, Not A Basement Studio; Mr Phan Luong, Acting Head of Innovation, Vietnam International Bank and Mr Andree Mangels, General Director, Adecco Vietnam.

Panel speakers unanimously agreed that for innovation to translate into financial success, it is important for businesses to implement a clear framework defining what success looks like, and to create an organisational culture which supports risk-taking.

Case in point, Adecco has in place a global “CEO for One Month” programme to cultivate a pipeline of well-rounded leaders. Employees across Adecco’s global offices apply and undergo a rigorous selection process for the opportunity to assume the role of CEO, for one month, under the direct supervision and mentorship of Alain Dehaze, CEO of the Adecco Group.  Under the programme, the designated CEO gets to experience what it is like to work in the organisation’s top job, as well as the leadership responsibilities that come with it. He or she is also given the mandate to run weekly management meetings and town hall sessions, within a supportive and safe environment.

The panel members identified diversity as another critical success factor in fuelling innovation within organisations. Panellists cited examples of enriched business solutions implemented within their companies, through the use of cross-functional teams to tackle projects, and garnering ground-up ideas to address customer and employee issues.

Offering food for thought, Dr Ang concluded the evening with these parting words of advice: “Businesses with good foresight use innovation as an offensive and defensive tool, to stay ahead of the game and fend off competitors.”

The International Speaker Series is organised by SMU Postgraduate Career Services as a platform to convene thought leaders to deliver insights on relevant and real-world issues, while providing opportunities for networking and the sharing of knowledge and ideas.

The third dialogue in the series will take place on 4 September 2018 in Bangalore, India.

Featured photo: (from left); Ms Leow Siu Lin, Consul-General of the Republic of Singapore; Dr Ang Ser Keng, SMU; Mr Hieu Tran, Not A Basement Studio; Mr Phan Luong, Vietnam International Bank; Mr Eric Yeo, IBM Vietnam; Mr Andree Mangels, Adecco Vietnam.