Vital for boards to steer innovation, says SID chief Willie Cheng

Singapore

DISRUPTION and innovation are buzzwords in today's business environment.

At the basic level, companies understand why they need to innovate. However, the "need to" innovate does not always translate to an understanding of "how to" innovate. As a result, innovation efforts are at times piecemeal and, sometimes, individual divisions in a company start out on their own to become more agile and innovative, working out of sync with the company's overall strategy and direction.