The making of an innovator

• Main Author: HOON, Hian Teck
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2004
• Subjects: Innovation; business enterprises; Singapore; education; Asian Studies; Education; Technology and Innovation
• Online Access: https://ink.library.smu.edu.sg/soe_research/2486; https://ink.library.smu.edu.sg/context/soe_research/article/3485/viewcontent/AsiaOne_20150904_1.pdf
• Institution: Singapore Management University

Innovators experiment with things to come up with new ideas to improve the quality of existing products, develop differentiated or new products and re-organise business processes to lower costs. In a big corporation, there might be a whole R&D department where innovators are employed to design new blueprints so the company can constantly make new offerings. But innovators can also be found in small enterprises tinkering with recipes, for example, to win new customers. Innovators no doubt derive pleasure from their creative work. Yet, in modern economies, they must be employed in a firm that successfully translates their innovative activity into profits so that they can be adequately remunerated for their effort.