The panel discussion on “Driving Corporate Innovation for a Sustainable Future in Vietnam” brought together industry leaders from diverse sectors, offering profound insights into fostering innovation within organizations. The esteemed speakers included:
- Mr. Phan Minh Thong, Chairman of Phuc Sinh Corporation
- Ms. Michele Wee, CEO, Standard Chartered Bank Vietnam
- Mr. Vo Quang Hue, Former Deputy CEO, Vingroup JSC
- Mr. Anirban Roy, Senior Partner, InnoLab Asia
Guiding the conversation was Ms. Nguyen Thanh Thao, Senior Manager of Business Development at Qualcomm.
Ms. Michele Wee set the tone by emphasizing the importance of cultivating an innovation culture within organizations. She outlined key pillars, including customer focus, experimentation, collaboration, continuous learning, and data-driven decision-making. The formal approach, encapsulated in the A3 process, and co-creation with clients were highlighted as strategies to encourage innovation.
Building on this foundation, Mr. Phan Minh Thong shared Phuc Sinh’s success story, emphasizing the company’s commitment to sustainable development. By obtaining certification in 2014 and prioritizing safe food production for the international market, Phuc Sinh showcased the transformative power of sustainable innovation in a competitive global landscape.
“Thành công hôm nay đã là quá khứ. và tôi cảm thấy rằng là bất cứ lúc nào chúng ta cảm thấy thành công thì thành công nó ở đằng sau chúng ta rồi.”
Following that, Mr. Vo Quang Hue underscored the pivotal role of leadership in driving innovation. Drawing from his extensive experience, he highlighted the need for a visionary mindset and the ability to inspire teams. The emphasis was placed on creating a culture that embraces change, with a focus on constant learning and adaptation.
“Cái điều cốt lõi của việc đổi mới phát triển và chuyển động nằm ở điểm đầu tiên vẫn là tầm nhìn và suy nghĩ. và thật sự nếu chúng ta thuyết phục được đội ngũ của chúng ta, những người làm chung với ta, người đồng hành chúng ta cùng mang cái quả tim như thế, cùng mang cái động lực như thế thì chắc chắn chúng ta có thể thay đổi được và chắc chắn chúng ta sẽ đạt được những cái mong ước.”
Continuing the discourse, Mr. Anirban Roy delved into the crucial role of managers in fostering innovation at the ground level. He encouraged a shift in mindset, urging managers to embrace problem identification rather than discouraging team members from bringing forth challenges without immediate solutions. Additionally, he stressed the importance of learning from failures and creating a culture that values lessons learned.
Mr. Anirban Roy also emphasized that leadership is not a one-time act but a continuous practice. He shared an innovative approach implemented in a bank, where an ideation platform was created. This platform encouraged employees to post problem statements, fostering a culture of collaborative problem-solving. He further underscored the significance of design thinking as a mandatory skill for all employees. This mindset, he argued, is crucial for fostering an innovative culture within organizations.
Ms. Michele Wee added a layer to the discussion, stressing the importance of collaboration and partnerships. Bringing people along on the innovation journey, she noted, is essential for capturing diverse perspectives, a key ingredient for meeting the varied needs of an organization. Emphasizing the need to embrace disruption and change, Michele articulated how staying attuned to market trends and technological advances is vital in today’s volatile world. This adaptability, she argued, keeps innovation current and relevant.
In the last sharing, Mr. Quang Hue, echoing the sentiments of Mr. Bosch, the founder of Bosch, shared a powerful message: “We’d rather lose money than lose trust.” He advocated for integrating innovative values into the company’s culture, emphasizing that sustainable development starts with these foundational principles.
As the panel discussion concluded, the key takeaways revolved around the necessity of continuous innovation. Visionary leadership, a collaborative environment, and a commitment to learning from both successes and failures emerged as the cornerstones for organizations aspiring to drive innovation in the rapidly evolving landscape of Vietnam’s business ecosystem. The insights shared by industry leaders serve as a roadmap for businesses seeking a sustainable and innovative future.