Change Approach Towards Innovation To Remain Competitive, Najib Tells SME Operators
KUALA LUMPUR, Feb 11 (Bernama) -- Prime Minister Datuk Seri Najib Tun Razak today asked owners of small and medium enterprises (SMEs) to change their approach on innovation to remain competitive.
He said the SME community was not adopting technology as rapidly as they should.
"You have to make technology adoption an integral part of your business strategy," he said at the Chinese New Year Open House and briefing on the Innovation Agency Act Malaysia organised by SMI Malaysia today.
Najib said technology was the platform that "will allow you to see much farther than is possible with the naked eye."
In the business world, the SMEs have to inject technology into their products and services, he said.
Technology-based innovation was one sure way of obtaining a sustainable competitive edge, said Najib, who is also Finance Minister.
"We've to differentiate ourselves by adopting technologies and in doing so, we've to cater to customers' needs. This will give us a competitive edge against low-cost producer countries taking away your business," he added.
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