Special Report
Bravo Awards: Experts weigh in on innovation


19th November 2014

Five past BRAVO Award winners analyze the concept of innovation for Latin Trade and examine the best way to embrace it within organizations.
By Élida Bustos
Few concepts are as central to a company’s success as innovation. Often associated with technological or industrial changes, innovation goes beyond that and can be found in all facets of corporate management. It’s possible to embed innovation in the business model, administrative processes, in the focus on new markets, product design, personnel training, in conflictive relationships with the public, and much more.
No one opposes it in theory, although in practice, sparking enthusiasm for change requires a dose of boldness mixed with adrenaline that not all organizations decide to undertake. Latin Trade sought out responses from executives who forged far-reaching changes in their companies. They were asked the best approach to innovation, and whether it should be gradual or disruptive.
“It’s a never-ending process that has to embrace the entire organization,” said Juan Benavides, president of AFP Habitat in Chile and the 2012 winner of the Lifetime Achievement Bravo Award as a CEO for his management at Falabella. “Innovation has to start from a deeply felt conviction that it’s the road to permanent growth,” he explained.
The expansion of Falabella is a good example of Benavides’ conviction about innovative policies and the willingness to take on risks. The company was founded in 1889 as a tailor shop and today is …

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