Before we going to discuss more details about this topic, let
we define what is actually mean by “innovative”. Innovative refers to renewing, changing or creating
more effective processes, products or ways of doing things.
For businesses,
this could mean implementing new ideas, creating dynamic products or improving our
existing services. Innovation can be a catalyst for the growth and success of our
business, and help us adapt and grow in the marketplace.
So, why Malaysia need to be innovative?
As we know, Malaysia has long
been a top producer and exporter of a long list of products. But we still
cannot compete with other top countries like Japan, Germany and other
countries. The current global slowdown and the rise of new economies may have
impeded our progress but it must be seen as an opportunity to re-visit our
strategies and re-design the way we have been operating for the past few
decades. Malaysia must become a country that stands alongside the very best in
the world. We must succeed in creating more products the world wants to use and
more brands the world wants to buy.
In order to make
Malaysia same level as other countries, we must have many innovators in our
country. Innovators will always searching for opportunities to be more
productive with the new ideas of creation something new that can give many
benefits to all people.
There are some advantages of being innovative for workers in Malaysia.
1. Market Expansion
Innovative technology can help even smaller businesses in Malaysia
to compete on a global stage. Innovations such as the Internet, for example,
allow a sole proprietor to offer her products or services to prospects around
the world through the use of a website. She can provide detailed product
descriptions and photos of her products to provide prospects with all the
information they need to make an informed buying decision. Social media
vehicles like Facebook and Twitter also allow her to network with others who
may have an interest in her business, without the need for face-to-face
interaction.
2. Cutting Costs
Innovation can also help business owners in Malaysia keep
costs to a minimum. With the use of automation, a small manufacturer can reduce
his dependence on human beings to perform some of the necessary production
processes. As a result, the business can reduce employee expenses such as
salary, benefits and turnover. Technology can also help to streamline the
production process, eliminating costly waste. Implementing a "lean"
manufacturing process like Six Sigma, for instance, offers the opportunity to
meet customer demand more quickly and efficiently.
3. Employee Concerns
While innovative technology may reduce the dependence on a
workforce, the flip side is that employees lose jobs in the process. In the
case of a small business owner, this may mean she needs to make a difficult
choice between increasing profits or letting go long-time employees. Even if
the implementation does not result in job loss, some employees may have
difficulty adapting to the change. There may also be a learning curve when
instituting the change, resulting in reduced productivity in the short term.
4. Upfront Costs
While new technology can result in savings in the long run,
it sometimes results in a significant upfront expense. A small business owner
may not have the resources to purchase a state-of-the art computer system or
new machinery, or may need to borrow the money to do so. If the new purchase
doesn't increase production or reduce expenses over the long haul, it could
have a crippling effect on the long-term viability of the operation.
References:
i. http://www.mpkotamarudu.my/news/2009/thestar050809.html
ii. http://www.business.gov.au/BusinessTopics/Innovation/Pages/Whatisinnovation.aspx
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