The annual Singapore Innovation & Productivity Conference (SIPC), held on 25 October 2013 at the Grand Corpthorne Waterfront Hotel, attracted more than 400 participants from the manufacturing sector and the wider business community. Organised by the Singapore Innovation and Productivity Institute (SiPi), the theme for SIPC 2013 was “Business Model Innovation: Redefining Possibilities”.
Through the Keynote and presentations by 5 renowned experts, the attendees learned how to transform their businesses and companies with Business Model Innovation (BMI).
This special edition of SiPi Newsletter brings you the highlights of the conference.
Business Model Innovation in the 4th Era of Innovation
Mr Scott D. Anthony, Managing Partner, Innosight
In his brief introduction to the “history” of innovation, Mr Anthony talked about the three eras of innovation: from the “Era of the Lone Inventor” in pre-1900, to the “Era of Innovation within the Corporation” from early-1900 to 1960s, to the “Era of Venture-backed Startup” from 1970s to present day. He went on to propose the next era of innovation that is emerging, is the “Era of the Corporate Entrepreneur”, whereby individuals with entrepreneurial spirits within the corporation are encouraged to flourish. He also shared a case study to show why business model innovation is imperative for success in this “fourth era” of innovation.
Trending: Asia’s Innovation Culture
Ms Kristine Oustrup, CEO & Creative Director, Business Innovation Culture
Ms Oustrup shared about the 3 essential components of a company culture, and 4 types of company culture. She highlighted Nike as a manufacturing company with very few technological or product innovation but has managed to innovate its business model, and Alibaba as an intermediary which provides e-commerce platform that has innovative business models to go into other businesses. She also spoke on the emerging trend of companies transitioning from conventional corporate culture to innovation culture, through the fusion of modern Western and traditional Asian thinking, to enable production innovation, operation innovation, and business model innovation. Of the 3 types of innovation, companies that undertake business model innovation can deliver better financial results.
How Singapore Companies Can Transform with Business Model Innovation?
Panel Discussion with Speakers
Moderated by Dr Michael Tang, Assistant Secretary-General of Singapore Manufacturing Federation, the Panel Discussion with Speakers session provided an opportunity for audiences to interact with speakers. The discussion ranged from how SMEs undertake business model innovation, to viable business models for SMEs in trading businesses to transition into, to government grants for enabling business model innovation, to cultivating a favorable company culture environment that enables business model innovation.
Realising Business Model Innovation – The Right Enablers and Motivation
Panel Discussion with Invited Guests
Moderated by Mr Calvin Soh, Founder of Nighty-Nine Percent, the Panel Discussion with Invited Guests session provided an opportunity for audiences to interact with industry practitioners. The discussion ranged from the sharing of experiences by SMEs that have undertaken various forms of Business Model Innovation initiatives, to the presentation of various enabling support services provided by government and national research agencies which SMEs can leverage on undertake Business Model Innovation projects.