KUALA LUMPUR: Datuk Seri Najib Razak today introduced the National Corporate Innovation Index (NCII), a measurement tool designed to help companies be more innovative.
The prime minister said the NCII will give companies a comprehensive overview of crucial areas that need to be managed to boost their innovativeness.
It also aims to establish innovation and governance within corporations and help identify mechanisms for companies to engage in innovation activities.
"Innovation does not happen overnight. It does not happen by chance, particularly in large companies.
"It needs to be managed effectively, requiring the company's top management to pay attention to the aspects that can help the company to remain relevant, competitive and sustainable in the long run," he said at the launch of the Innovating Malaysia Conference 2014 here.
The NCII was developed by the Malaysian Innovation Agency (AIM) with the collaboration of Nesta, a non-profit foundation for innovation based in the United Kingdom.