Jim Goodnight underscores innovation, leadership at East Asia event
06 July 2007 – At the World Economic Forum (WEF) on East Asia in Singapore, SAS CEO Jim Goodnight joined heads of state and global business leaders in discussing the global shift of economic, political and social power toward that region. Goodnight was co-chair of the 16th forum, themed “The Leadership Imperative for an Asian Century.”
Goodnight highlighted two topics: innovation and leadership. As a discussion leader for a session titled “Innovation Mantra: The Key to Asia Competitiveness,” he emphasised the need for governments to institute policies and incentives that encourage businesses to innovate, such as the United States’ R&D tax credit.
Goodnight contrasted the US tax credit with Europe’s growing problem with pharmaceutical industry regulations, which he said are hindering innovation and leading companies to move operations to regions with more supportive policies. “Government polices can be restrictive and prevent innovation,” Goodnight said. “Pharmaceutical companies are no longer interested in producing new drugs in Europe, so they have moved their clinical trials and related activities to other countries, such as India.”
At another meeting, Goodnight encouraged attendees to continually fuel innovation and collaboration within their organisations. “If innovation is an idea plus action, then leadership must be vision plus action,” Goodnight said. “Collectively, we leaders have the expertise and the experience to safely navigate our organisations through 21st century waters, but we must work together, sharing best practices and ideas.”
At WEF’s closing session June 25, Goodnight told delegates that innovation requires an educated work force. “We're no longer in the Cold War where we were in an arms race,” he said. “Today's race is a race for minds, and whichever country, whichever region, can create the greatest set of minds is the one that will potentially dominate the world."
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