Expert stresses technological innovation in enterprises

Prof Dr M Nawaz Sharif, a world-renowned expert in technological innovation management, on Tuesday said Bangladeshi enterprises have no choice but to go for technological innovation for gaining competitive advantages by boosting productivity in the globalisation era, reports UNB.
"Since technological advancements have transformed the nature of all professional works and made innovations paramount for all enterprises for both local and global competition, Bangladeshi enterprises have no choice but to go for technological innovation," he said, addressing the inaugural session of a three-day workshop in the city.
University of Asia Pacific (UAP) and Dhaka Chamber of Commerce and Industry (DCCI) jointly organised the three-day workshop titled 'Technological Innovation Management for Competitive Advantage' at the School of Business Administration, UAP, Green Road Campus.
UAP Vice-Chancellor Prof Dr Jamilur Reza Choudhury and former BUET Vice-Chancellor Prof Dr Iqbal Mahmud also spoke at the inaugural session.
Prof Dr Nawaz Sharif, currently a Principal Consultant of Myriad Solutions, Inc in Maryland, USA is leading the workshop that will conclude on Thursday.
Dr Sharif, also former Director, Asian and Pacific Centre for Transfer of Technology, UN-ESCAP, (APCTT), Bangalore, India, noted that technological innovation is offering all the countries the power to boost productivity, and at the same time, generating high-quality living standards of the people.
Studies in OECD (Organisation for Economic Cooperation and Development) countries show that in the global market, actual value of a product now depends more on the technology content, rather than its material content, he mentioned.
"Our industries need to restructure for production of 'smart' appliances and production of established goods of better quality that contribute to gain in the market share. However, industries need to 'specialise' on a few carefully selected areas that could provide competitive edge," he said.
Saying that on principle, developing countries have to adopt a 'make-some-and-buy-some high-tech products' strategy for sustainable economic development, he said if Bangladesh aspires to be a prosperous country by participating in the beneficial international trade based sustainable economic growth strategy, it should have a number of global corporations.
Prof Iqbal Mahmud said Bangladesh needs to create a strong manufacturing base by using technological innovation for getting optimum productivity.
Saying that Bangladeshi enterprises have taken up programmes and plans but production is at a minimum, he said, "We need a strong political will to push big technologies initially."
Terming Dr Sharif a 'pioneer' in the technological innovation management particularly in the South Asia, Dr Mahmud said he is significantly different from the traditional economists.
The workshop, designed as a knowledge-exchange forum, aims to groom executives for consolidating the competitive edge of the enterprises to become significant players in the 'global value chain' through uninhibited productivity gain and technology-based product development strategy.