Innovation Management
- Peter K F Cheung SBS
- Aug 14, 2023
- 2 min read
FADE IN
Act 1
INT. STUDY - 10:00
Smartphone in hand, PETER reads mail attachments.
PETER (V.O.): I've a HKUST Knowledge Transfer Committee meeting to attend later today.
Pausing.
PETER (V.O.) (Cont'd): Court work isn't creative. The common law is based on precedents.
Reading.
PETER (V.O.) (Cont'd): To show evidence in the form of video clips, a computer and some screens would suffice.
Thinking.
PETER (V.O.) (Cont'd): But videos, computers and screens were innovative products that have changed the world.
Pausing.
PETER (V.O.) (Cont'd): As for me, I can only create and deliver value other than science and technology.
Act 2
INT. CONFERENCE ROOM - 14:45
LADIES and GENTLEMEN meet. Some in person, some on screen.
PETER (V.O.): As the Committee's vice-chair, I'd play my due role.
After presentations, we see Peter making interventions.
PETER (V.O.) (Cont'd): I first joined as a co-opt member when the Committee first established in 2016.
We see the Committee transacting its business seriously.
PETER (V.O.) (Cont'd): Without intellectual properties, science and technology by themselves can't be commercialized - an aspect of knowledge transfer.
EXT. SILVERSTRAND BAY - 17:45
Peter is swimming towards the outer limit of the swimming area.
PETER (V.O.): The concept of innovation management seems unfathomable.
Swimming.
PETER (V.O.) (Cont'd): It's the key strategies and activities that entities undertake to foster and control innovation within their operations.
Recalling.
PETER (V.O.) (Cont'd): While I was visiting US in 2007, I met up with somebody in the field. I asked him to do some knowledge transfer, but he declined.
Swimming.
PETER (V.O.) (Cont'd): That made me more curious about how to manage innovation systematically to deliver value and achieve competitive advantage.
Swimming.
PETER (V.O.) (Cont'd): Structurally, there're seven stages: 1 Idea Generation, 2 Idea Screening and Selection, 3 Concept Development and Prototyping, 4 Resource Allocation, 5 Implementation and Commercialisation, 6 Monitoring and Evaluation and 7 Continuous Improvement.
Swimming.
PETER (V.O.) (Cont'd): And money plays a significant role in innovation.
Swimming.
PETER (V.O.) (Cont'd): Money is needed for research and development.
Swimming.
PETER (V.O.) (Cont'd): Money enables entities to attract the best minds and foster a culture of innovation.
Swimming.
PETER (V.O.) (Cont'd): Building prototypes, conducting market research, gathering feedback and making improvements require money.
Swimming.
PETER (V.O.) (Cont'd): Without sufficient funding, it can be hard to launch and grow an innovative product or process.
Swimming.
PETER (V.O.) (Cont'd): Moreover, innovation inherently involves uncertainties and risks, adequate financial resources allow entrepreneurs to take calculated risks so that they've a buffer to learn from setbacks.
Swimming back to shore.
PETER (V.O.) (Cont'd): Govt can play a role in the innovative ecosystem.
Recalling.
PETER (V.O.) (Cont'd): But an innovative and entrepreneurial friend's remarks about his neighbour has been resonating in my mind.
Recalling.
PETER (V.O.) (Cont'd): He said his "innovative and entrepreneurial" neighbour had never delivered any value in his propositions but had been living on innovation funding support.
Act 3
INT. STUDY - 22:30
Having input the prompt: "Innovation Management" in an AI art generator, Peter sees a cubist image appearing.
PETER (V.O.): Making ideas happen is more than creativity and technology.
Thinking.
PETER (V.O.) (Cont'd): Whether an innovative product or process can change the world has everything to do with management capability - a touchstone of its competence.
Thinking.
PETER (V.O.) (Cont'd): In this regard, I believe I can help HKUST with the strategic direction in innovative management.
FADE OUT
THE END
Comments