Presentation of Rzeczpospolita and Deloitte ranking in Krynica: Innovations Accelerate Growth

Large companies in Poland and in the region benefited the economic upturn in 2015. However if they would like to continue to grow, they need to put the greatest emphasis on innovation. The role of innovations was discussed during “Rzeczpospolita” daily and Deloitte presentation at 26th Economic Forum in Krynica.

Innovations are considered today much more than pure aspiration. They are the prerequisite to  join the competitive race of companies and countries – stressed the speakers of the discussion panel  ” Can Innovative Economy Develop in Central Europe?” the discussion was accompanied by the presentation of the results of CE TOP 500 ranking, that has been prepared for 10th time by Deloitte and “Rzeczpospolita” daily.

The 500 largest companies have been selected out of nearly 870 companies from Central and Eastern Europe. In the separate statements the largest financial institutions and insurance companies have been compared .

Once again, on the occasion of putting the compilation of the 500 largest companies in the region, “Rzeczpospolita” and Deloitte have developed the Index of Success for 30 best  companies (25 “of real economy” 3 banks and 2 insurance companies). To be included in the statement, the company had, among others, to be established in the country of Central and Eastern Europe, have publicly known ownership structure and have to operate in at least three countries.

Global Ambitions

Among the nominees two have been selected and awarded. The title of the best company in Central Europe in 2016 was awarded to the Polish shoe tycoon – CCC. For the first time the jury awarded the prize of the decade, which has been awarded to a clothing company LPP.

Both winners owe their success to not only their ambitions but also entrepreneurial approach to business and innovations – including the skillful use of the ideas already proven in the world and their own concepts.

Piotr Nowjalis, the Vice President of CCC stressed that the reason of the company’s success, which is today the largest shoe retail company in Central Europe and the largest manufacturer of shoes on our continent (it has more than 800 stores in 16 countries) there are … ignorance and business paranoia. Ignorance, because thanks to it you do not know that something is not possible and you cannot see the barriers. – Business paranoia results in not being satisfied with the existing state of business. This is thanks to these two factors the company from a small 15-thousand town in Lower Silesia has become a regional leader in Europe – emphasized Nowjalis, not hiding that the company has much greater ambitions.

– We still have hunger and want more – said Przemyslaw Lutkiewicz, Vice President of LPP, stressing that the company wants to be a global player. For this reason we need a global brand, so therefore LPP is doing everything to make its flagship brand Reserved a global brand and to open stores in the other countries.

Support of science

As the Vice President of LPP stressed, the group spends every year tens of million for design works, that employ approx. 800 people. The company invests ,i.a. in the development of new fashion designs (needs 10 thousand. per year approx.) and manufacturing technologies.

The Moderator of the debate Boguslaw Chrabota, Editor-in-chief of “Rzeczpospolita” daily noted that our economy has fallen into an imitation trap.

The change the trends one needs to be aware of the importance of innovation in business.

Innovation was also referred to by Krzysztof Skóra, the Chairman of KGHM. He noted that innovation in his sector is essential. According to him innovation can be successfully developed only thanks to appropriate balance between science and financial and legal solutions.

– All this goes hand in hand. As a company, we try to introduce practical innovation. On the other hand, scientists sometimes want to show interesting solutions, but they are not fully interested in, also financially, their implementation in the industry. This is the main reason that we poorly implement practical innovations in Central and Eastern Europe – said the President of KGHM.

– Not always our colleges and universities are open to cooperation with business. Meanwhile, you need a whole innovative system where the universities are their sources – said Dominika Bettman, a board member of Siemens Poland. She underlined that as a representative of the company she must convince the decision-makers at headquarters, that it is worth investing in R & D centers in Poland. – High level of Polish universities graduates may be a good starting point for the development of innovation.