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  Challenge > At The Ministries > CIVO Shares Insights into Innovation in MTI > ‘Don’t Commit these 7 Sins’
 

 

‘Don’t commit these 7 sins’
 
When it comes to innovation, take care to avoid what Chief Executive SPRING Singapore and the Ministry of Trade and Industry’s Chief Innovation Officer Lee Suan Hiang calls the “seven deadly sins”:
 
1
Thinking that success is forever: Past success is no guarantee of future success. We cannot keep doing the same thing, which is why innovation is so important.
2
Thinking that we’re in the lead just because we made some improvements: Competitiveness is relative. We can make improvements, but if others make greater improvements, we are still relatively less competitive.
3 Being like a hamster on a Ferris wheel — running very fast and going nowhere: On the contrary, we should be like a dancer on a moving surface — flexible and quick to adapt to the changing environment.
4 Adopting a no-risk policy: The greatest risk is to take no risk. We must dare to dream, dare to do, dare to make a difference.
5 Focusing only on perfecting the known: By the time we perfect the known, the world would have moved on. We must also imperfectly seize the unknown.
6 1 + 1 < 2: Less is achieved when the group operates at a level where the group IQ is lower than the individual IQs. By enhancing the synergies of the different individual contributions, the group can be more effective. 1 + 1 can be more than 2.
7 Thinking that we can’t do it because we lack resources: The concept of “Singapore limited” has to be changed to that of “Singapore unlimited”. We need to tap on our imagination — the most unlimited resource we have.
 
 

Next: Innovation is the buzzword in MTI

 
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