1. Why Malaysia has to be innovative in
facing stiff competition from other developing countries?
Innovation is about
people creating good value by developing and implementing new ideas or methods.
Invention is the product from innovation. On the other meaning, it is a process
of creating new invention for others and themselves. To be called an innovation,
an idea should be real and economical thus satisfy the need. Innovation
involves deliberate application of information, imagination, and initiative in
deriving greater or different value from resources, and encompasses all
processes by which new ideas are generated and converted into useful products.
In social context, innovation might be implemented on the other way around. It
is more on the method of gaining something instead of producing a product. For
examples, creating collaboration, joint venturing, flexi hours, and others that
make consumers easy on daily life.
On the others hands, innovation also improve the development of
new customer through solutions that meet new needs, unarticulated needs, or old
customer and market needs in new ways. It is from lots of ways such as creating
effecting products, processes, services, technologies, and ideas that already
in the market, government and society. The innovation can help an organization
or a country can be more successfully because when an organization has made an
innovation that is more creative and more interesting. Many people will use
that product that is made in by a country to make the products to make it
globally.
Malaysia has to be
innovative in facing stiff competition from other developing countries because
of many reasons. The National Innovation strategy or Innovating Malaysia is one
of the ways to promote innovation itself. This program will provide foundation
for a thriving knowledge economy and help Malaysia achieve the Vision 2020. Through
this program Malaysia will be the lead in innovation compared to others
developing country. When Malaysia became innovative, it will keep the people or
citizens on the right tracks towards better future. With the drastic
development through innovation, people will constantly grow up with better idea
and more intelligence. Thus it will help the country back and Malaysia can gain
lots of respect from the countries which is at the same time competing with
Malaysia. This is because; we produce high quality skills and products that can
be used by others globally.
Another reason why
Malaysia has to be innovative because through innovation, we can find new ways
to improve people’s standard of living. In Malaysia itself, we still have
crisis in term of poverty. That is why to make Malaysia become fully developed,
poverty is the number one matters that should be solved. Through innovation,
poverty can be settle with lots of ways. For example, IKS is being applied to
help people outside the town to improve their income. If the people become
better, Malaysia also will gain better place in the world. Lots of outsiders
will come and invest to Malaysia. This will make Malaysia more well-known.
2.
What is genovasi?
Genovasi is a new
Malaysia government initiative to develop innovation skills for local youths
which will lead to wealth and improve standard of living. This program is an initiative
is in line with the interests of innovation skills as an effective strategy to
achieve success in the world which is termed VUCA the unstable, uncertain,
complex and ambiguous.‘Genovasi’ is a combination of the words innovation and
generation. Participants from this program would channel their creativity in
three areas, namely, community-centric activities; focus on economic matters
and government enhancement projects. The Core Track is allows candidates to
understand innovation methodology and collaborate in cross-disciplinary teams.
The Advanced Track provides candidates with the opportunity to work on hands-on
challenges which involves solving real world problems.
Genovasi is to aims to
progressively train the ambassadors over a five-year period so they can
eventually take the lead in spurring progress, a better quality of life and
solutions for the nation. Prime Minister of Malaysia, who announced the new
unit yesterday, said Genovasi would partner with global innovation leaders to
impart innovation, skills, expertise and methodologies to the new generation of
Malaysian innovation ambassadors. Genovasi would be set up as an innovation
organization where bright young minds would have tangible opportunities to
receive induction into innovation. Genovasi will have three tracks would be
offered for the participants to apply their new innovation skills. The tracks
are community-centric projects to benefit the masses and that are
economic-focused projects that generate new waves of wealth, and government
enhancement projects to help improve the delivery.
3.
What is Creative Destruction?
‘Creative Destruction’ is
a paradoxical term introduced to economic theory in 1942 by the Austrian
economist Joseph Schumpeter (1883–1950). He used the term to describe the
special form of economic growth that entrepreneurs particularly bring to the
capitalist system. Schumpeter argued that it was the entrepreneur’s
introduction of radical innovation into the capitalist system that was the real
force that sustained long-term economic growth, even as it destroyed the
economic value of established enterprises who may have previously enjoyed a
degree of monopolistic power.
The net economic benefit
from the radical innovation, in spite of the destruction of existing economic
value, was greater than if the radical innovation had never been introduced.
So, in the term creative destruction describes a process of creating net
economic growth in the capitalist system where entrepreneurs create more
economic value from their radical innovations than is destroyed as their
innovation replaces and supplants the established way of doing things.
Schumpeter believed that
in the capitalism would ultimately be destroyed by its successes and that this
‘creative destruction’ was just part of the prediction of capitalism’s future.
While he is not happy with his visional outcome His great defense of capitalism
however, was built on the grounds that capitalism sparks entrepreneurship. He
was one of the first economists to truly provide us with a clear concept of
this term. His theory described the more expanded role of entrepreneurs as
innovators not just inventors. He saw that entrepreneurs did far more than just
invent as they introduced new means of production, new products, and new forms
of organization. These innovations, he argued, take just as much skill and
daring as did the process of invention.
Moreover, Creative
Destruction is a concept which leads that in a healthy capitalist system, new
things are constantly overtaking the old, tearing down previous economic and
technological systems to make way for progress. In a simple example of this
concept, the advent of affordable cars caused the use of horses to go into
decline. Some people believe that the process of creative destruction is vital
to the maintenance of a healthy economy, and that if an economy is to thrive,
this process must be allowed happen. Others feel that, unchecked, it can damage
an economy or the welfare of a population.
Numerous writers have
brought up the concept, under various names. Joseph Schumpeter is generally
credited with raising awareness about creative destruction, in his 1942 book
Capitalism, Socialism and Democracy. In fact, he brought up the concept as part
of a larger discussion about how capitalist systems eventually turn into
socialist ones, but many economists leave this part of the discussion out,
focusing entirely on creative destruction.
In a healthy economic
system, entrepreneurs and innovators are rewarded for their work, and
businesses which are unable to change or adapt find themselves penalized.
People who are able to think outside the box and predict future market trends
can use creative destruction to their advantage, developing the products which
will replace the products currently on the market. In addition to dealing with
products, this concept also covers supply lines, management techniques,
advertising, and many other aspects of the business world.
Famous example of
creative destruction n related to products would be the Apple’s iPod. A few years ago, the main way for people to
individually listen to music would be CDs and CD players but however, in 2001,
the iPod was released. With various
product lines including different colors and sizes, the iPod is the best
selling digital audio player in history that is Kahney .
CEO of Apple, Steve
Jobs, realized the opportunity in the industry to create a more streamlined
digital music player, and he assigned a team of engineers to develop such a
product in Murry. Apple has utilized
new technology through iPods perfectly by making music into digital
downloadable media, which is much more convenient then CDs. iPods make listening to music more convenient
in various other ways; users no longer have to carry around replacement
batteries for their CD players or their portable collection of CDs. The iPod is also linked to other new
technologies such as a mass of new accessories and the creation of the iTunes
store, which helped the success of the new product.
iPods are an innovative
new product and nevertheless, their emergence has spurred the decline of
CDs. The engineers at Apple continue to
use new technology to create different, improved versions of the iPod such as
the iTouch. While Apple has experienced
great growth and success from the creation of the iPod, other companies
manufacturing music players have not been able to compete as well with the
newer technology. The emergence of this
new product has caused an enormous disruption in the business world
