PHOTO
Auditors redefine innovation concept as the way of doing things better than it was done earlier
Dubai: Internal auditors should overcome innovation barriers by thinking outside the box and by redefining the concept of innovation per se, the UAE’s internal audit community has been told at the members meeting of the UAE Internal Auditors Association (UAE IAA) in Abu Dhabi.
“Modern day management warrants innovation in a new perspective as innovations thrive on resolving contradictions. They should think differently how to create compelling customer value, and how to flow that value through streamlined processes by embedding a real discipline around pursuit of perfection,” said Abdulqader Obaid Ali, Chairman of UAE Internal Auditors Association (UAE IAA).
Making a presentation titled ‘Overcoming Innovation Barriers’ at the monthly members meeting of the UAE IAA, Ninad Pradhan, Senior Consultant & Trainer, UAE IAA, said that many organisations face project constraints, psychological inertia, limited breadth of knowledge, and are unable to forecast the future and therefore solve the wrong problem.
UAE IAA, a non-profit organisation of internal auditor sunder the Ministry of Community Development, was set up in 1995 along the lines of its parent body, the Institute of Internal Auditors (IIA) with 190,000 members from more than 170 countries and territories. The UAE accounts for about 45% of the total number of internal auditors working in the region, estimated at about 7,000 auditors, of which 22% are Emirati citizens.
Debunking the generally perceived notion that innovation is only about new gadgetry, Ninad said that it’s about satisfaction and value, the way of doing things better than it was done earlier and endorsed management guru Peter Ducker’s view that it’s a term of economics rather than technology.
He put forward the idea of TRIZ, the Theory of Inventive Problem Solving, devised by a Soviet engineer who worked as a clerk in the patent office and embarked on finding some generic rules that would explain creation of new, inventive ideas.
An ideal TRIZ roadmap identifies components of the system by component analysis, identifies and evaluates the functions performed by the components through function modelling and functional analysis, and then identifies interaction between the components through interaction analysis.
Innovative solutions resolve contradictions and not settle for a compromise or trade-off. Contradictions can occur when improving one characteristics lead to deterioration of another, he said.
“Interaction analysis identifies all the interactions between the components whether it is positive, negative or neutral. Function modelling is a stage which describes the functions, their usefulness and performance level, i.e. an action performed by one component on another,” he added.
-Ends-
For media enquiries, please contact:
Nadd Al Shiba PR and Event Management
Phone: +9714-256 6707
Email: info@naddalshiba.com
Website: www.naddalshiba.com
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
