SINGAPORE – From the telephone to Twitter, the West has been credited for major transformational innovation.
Asia on the other hand is credited for building its economic muscle from low-cost production and copy products.
Speaking at Spikes Asia 2014, Lowe Profero global CEO Wayne Arnold labeled as naïve observations that Asian culture doesn’t innovate in his presentation exploring innovation in the region.
“In Asia, it’s more about micro-innovation – taking a successful idea and changing incrementally to create a more powerful one, a potentially more economical way to succeed.”
Through micro-innovation, Arnold believes the region has taken over the driver’s seat.
Fellow panelist DFS Luxury Retail marketing EVP Winnie Park pointed to consumers as the driver behind micro-innovation.
“The perfect consumer experience isn’t static, which is why we have to micro-innovate,” said Park.
Concluding the presentation, the panel offered its model of what it would take for companies to succeed: “Successful businesses of the future will need to marry the Wests obsession with the perfect user experience with Asia’s relentless passion to improve and innovate.”
