With the wave of digital transformation and the arrival of 4.0 technologies in Brazil, many companies are threatened and possibly doomed to failure. But the solution is quite simple: INNOVATION!
According to a survey by CNI (National Confederation of Industry), 31% of Brazilian companies accepted this new culture for fear of not keeping the pace with future markets. One out of three presidents of such companies already acknowledges the risk of not meeting production demand without the aid of innovation. In other words, it’s a non-return path.
Key factors that drive innovation in businesses
The survey indicates that the main reasons that drive innovation within companies are business sustainability, higher market share and competitiveness.
With such factors, there is a trend in companies for initiatives that could add value to their products and services, and bring health to the business. However, the persisting financial crisis in some companies prevents CEOs from working on big novelties.
Unfortunately, the situation of those companies has made them prioritize basic expenses (preserving jobs, for instance), and disregard the innovation culture.
This is no doubt a strategy, but it isn’t recommended, as it may take the company off the market over time, making the situation even worse.
Brazil has still a lot to invest
The study shows also that 48% of respondents consider that a low level of investments occurred in the Brazilian scenario. And only 6% of them consider the industry’s level of innovation to be high.
These data prove that even with Industry 4.0 solutions established in the country, companies are still in the process of stabilizing and mindset changing, to better take advantage of the opportunities that innovation can bring to the business.
It’s expected that this scenario will evolve and show more results in the next five years.
The hot issue: cost-effective process optimization
Nowadays, innovation in Brazil doesn’t often occur in a disruptive way, but rather in an incremental way. That is, executives are adhering to this culture slowly, but with the goal of optimizing some previously mechanical processes, with the goal of gaining agility and decreasing costs.
To be considered really disruptive, innovation must transform processes completely – which is still little seen in the Brazilian market.
Large-sized companies that have interest in keeping pace with this innovation stage are following startups, and are choosing to establish partnerships to create innovative environments.
MEI Tools: support for innovation
Several initiatives for industrial innovation financing have been created in the last 15 years. However, the incentive approach was undermined by the country’s economic situation at that time.
To facilitate the access of companies to such financing types, MEI (Enterprise Mobilization for Innovation) created MEI Tools, offering a survey of over 80 innovation financing systems.
Strengthening these systems will be the next step, so companies can understand the importance of investing in Brazil’s future even in the midst of a crisis.
How are you handling innovation in your company? Are you still at the embryonic level, with some initiatives, or is it a reality already?