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March 09, 2009

Innovation

I have not made an entry for a long time, it doesn't mean I haven't learnt anything so far, I have. From Process Improvement Using Six Sigma, to Product Excellence Using Six Sigma. I have learnt a lot, even if sometimes the subject can be a bit boring. Here I am not going to give a summary about what I have learnt from the two courses, I will do it at another time. Knowledge Management is what I want to write about this time.

Today, we talked a lot about innovation at our first KBAM seminar. Now we all know that if a company wants to succeed, they have to be innovative first, to satisfy customers by providing a product which will exceed the customer's requirement, for example, the Walkman, the iPhone... in fact there are a lot companies that have embedded "Innovation" in their brand names.

For example, Rolls-Royce, one of the company's core values is "Innovation – we strive to be open minded and flexible in our work. A forward-thinking culture creates a well-managed and contemporary organisation that is always seeking to improve" (Rolls-Royce website). The other two brand values are "Reliability and Integrity". These three core values form the brand image Rolls-Royce is trying to communicate to its customers. A product, whether it is an aircraft engine, or a gas-turbine based energy generating set,  being reliable, integrable, and innovative; those are the main qualities that a Rolls-Royce customer will expect from any RR products or service, and the three main qualities are also how Rolls-Royce differentiates itself from its main competitors.

Other successful companies such as Toyota and Apple, all constantly create new knowledge and put this new knowledge in their new products, which later becomes one of their products' selling points. This is what we call "a Knowledge-creating company"

 

Ref: http://www.rolls-royce.com/about/brand/


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