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Innovation from within firms

by VTV424 February 2017 Last updated at 17:44 PM

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Innovation from within firms
VTV.vn - Instead of spending a huge amount of funds for research and development, firms are now encouraged to look within their firms for innovative ideas.

This crew started off with only 2 employees. It has increased twelve fold in recent time, including technicians and customer service staff. The project, initiated from the ideas of employees, has now turned into a new product of the firm.

This isolation cooling system with automatic control was also a staff' idea. Its operation is cut to half while still ensuring good performance. According to experts, instead of spending huge amounts of research and development, firms should provide an enabling environment to stimulate employee's creativity.

Businesses in Singapore often set up training courses to inspire creativity and innovation for each employee. They are willing to review, run tests and turn ideas into products. This is an example that Vietnamese firms could follow to improve innovation within their firms.