Fostering IT-Enabled Business Innovation at YCH Group
Thompson S. H. Teo, C. Ranganathan, Shirish C. Srivastava, James W. K. Loo
As the business environment becomes more global and competitive, organizations need to pay more managerial attention to systematically encouraging business innovation. Singapore-based YCH Group, a leader in end-to-end supply chain solutions in the Asia-Pacific region, has addressed the issue of stimulating business innovation. This article describes its experiences and offers three lessons for encouraging IT-based innovation. The first lesson is to foster an innovation mindset, which YCH has done by creating an IT-centric innovation mindset and by balancing strategic and operational issues. The second is to build partnerships, which YCH has achieved by developing an outward-facing IT organization, by leveraging cross-learning from alliances, and by leveraging IT to capitalize on opportunities to grow with customers. The third lesson is to mitigate risks and uncertainty, which YCH has done by instilling a flexible risk ethic, by focusing on customer value when assessing its innovation projects, and by paying attention to protecting intellectual property.
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