Leading Innovation for Wealth Creation Professor Ric Parker CBE, FREng Director of Research & Technology, Rolls-Royce (retired)

An invitation to…

The 10^th Lecture of the IEL Distinguished Speaker Series

Leading Innovation for Wealth Creation
Professor Ric Parker CBE, FREng
Director of Research & Technology, Rolls-Royce (retired)

25 October 2016 (Tuesday), 6.30pm  to 7.30pm, NUS Engineering Auditorium

Please click on this link to RSVP

When Ric Parker retired earlier this year, he was the longest serving CTO in the FTSE 100 Companies, with 15 years in the role and 37 years in the Company. This experience has given Ric time to reflect on what makes innovation successful (and why it sometimes fails).

Why is innovation different from invention: invention is that flash of brilliance that leads to a vital new idea, captured in a patent, or technical publication; but innovation is the entire process of turning that idea into wealth creation, social benefit, or both.

Ric’s own model for corporate innovation maps it into a Boston box with axes of  internal or external, closed or open. This model will be explored, looking at companies that have successfully employed each of the four possible approaches. What are the implications for corporate culture and employee behaviours that go with each of these.

Singapore is an excellent micro-culture in which to explore these models, and Ric is currently advising A*STAR on how to effectively convert investment in technology into wealth creation for Singapore.

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