WHILE innovation is commonly thought of as being the first in a field, players coming in later in the field can still innovate and reap success from these innovations, said Microsoft's chief executive yesterday.

Speaking to invited guests at the Ritz Carlton yesterday morning as part of the Infocomm Development Authority's Distinguished Infocomm Speaker Series, Steve Ballmer said: 'The best innovation is when you dream of something before anyone else does, and build it before everyone else does.

'But what is the value of innovation when you come second in the market?' he asked.

He pointed out that Apple did not invent the MP3 player, and Google did not invent the search engine, but nonetheless they went on to become hugely successful companies. Thus the innovative value of those who can refine and improve upon a concept should not be underestimated. 'You can't be afraid to take on the challenge of innovating when you're the second person to think of the problem,' he advised.

'Great companies have to value the innovations that they buy outside, in addition to the innovations that they develop themselves,' he added.

The IT veteran also told the audience, which included guest-of-honour Teo Chee Hean, minister for defence and minister in-charge of the civil service: 'If you want to be an innovator, you have to be patient and take a long-term approach. Most of the good ideas don't actually mature perfectly overnight. So it's a balance of an embrace of disruption and innovation, and patience in a long-term approach.' Noting that 'more companies have failed by giving up on things too early, than on staying with their good ideas too long', he said he tells Microsoft shareholders that they have to invest for the long term - and that could be 'three to five to seven years'.

Crucial to the success of a company are the people, he declared. 'Without the right people, nothing else matters,' he said, adding that Microsoft constantly pursues the brightest and most passionate people to join them. Another key ingredient for success is the need to embrace disruption. 'Our industry is in the process of major disruption,' he noted. 'In the old world, a few people produced all the interesting content. In the new world, we're all interesting content producers.'

He went on to predict: '10 years from now, none of us are going to read newspapers on paper. We'll read them on some kind of electronic device - a phone, a PC, a TV set.'

He thus advised getting the right people and developing a culture that embraces disruption, saying these were crucial to success.

Microsoft Singapore, with Mr Ballmer, hosted a gala dinner on Tuesday night, with President SR Nathan and Mrs Nathan as guests of honour.

The highlight of the evening was Microsoft's pledge of more than $470,000 to benefit the Society for the Physically Disabled, as part of the President's Challenge 2007.

Microsoft Singapore has committed to invest $1 million over the next three years to help people with disabilities.

This article first appeared in BT on May 24, 2007