By ISABELLA CASTAÑEDA RODRÍGUEZ | EGADE BUSINESS SCHOOL
Innovation in Latin America must be measured beyond traditional indicators, considering that small businesses and informal work operate without the technology available to large corporations.
In episode 214 of Territorio Negocios, Isaac Lemus, professor in the Department of Entrepreneurship and Technological Innovation at EGADE Business School of Tecnológico de Monterrey, and Gregorio De Haene, Director of R&D at Sigma Alimentos, discussed this topic.
The conversation was hosted by Pablo Necoechea, Regional Director of EGADE Business School in Mexico City and Querétaro.
De Haene mentioned that patents are not always the best option to continue innovating in the Latin American market, noting that other procedures can be implemented: “In the case that we want to protect something, we mainly go for industrial designs. It has worked for us.”
Lemus agreed on this matter and explained that traditional indicators “have limitations that are associated with developed economies, companies that already have a formal structure, a lot of technology,” leaving out other business models.
He emphasized that in Latin America, making small, gradual changes or improvements to products and services is a better option for informal or small-scale businesses. “Rather than focusing on traditional input indicators, we focus on impact indicators,” he said.
For this, adaptability and agility are key. De Haene stated that although “technology is global, the consumer is specific,” companies must adapt to each region and measure innovation by the time it takes to make adjustments.
Lemus addressed three changes to rethink the way these types of metrics have been managed: considering social and environmental value, increasing qualitative work, and avoiding generalization.
This and more episodes of Territorio Negocios are available on Spotify, Apple Podcasts, Amazon Music, and YouTube.
