Investigation into the Key Competencies for Innovative Projects in FMCG Industries - Case Study

Abstract

The FMCG sector is a fast-paced and competitive field propelled by swift advancements and changing consumer preferences. Effective management of innovation is vital for maintaining market relevance. This research identifies essential project management skills necessary for promoting innovation within Sri Lanka’s FMCG sector, classified into technical, Contextual, and behavioural competencies. A qualitative methodology was employed, consisting of a thematic analysis of interviews with professionals, including project managers, innovation leaders, and senior executives. The findings reveal critical technical competencies such as expertise in product development (seven-gate framework), familiarity with project management tools, lean and agile methodologies, business and data analysis, AI-based decision-making, and the acquisition of external technologies. Furthermore, strategic thinking, stakeholder mapping, cross-functional collaboration, sub contracting, change management and effective resource allocation have surfaced as necessary as a Contextual. Behavioural competencies such as adaptability, curiosity, emotional resilience, networking, risk-taking, transparency, empathy, and an entrepreneurial mindset are also crucial. Additionally, skills in supplier control, quality management, product formulation, sampling, innovative packaging, and the integration of consumer feedback were recognized as essential for driving innovation. By incorporating these competencies throughout the project lifecycle, FMCG companies can boost innovation, thereby ensuring sustainable growth and competitive advantage in the market. This study offers valuable perspectives on nurturing an innovation- focused culture in the industry