WHAT INNOVATION MEANS TO BUSINESS

WHAT INNOVATION MEANS TO BUSINESS 

 

People think that innovation is a cliché but it's not. Being innovative is, in fact, the core capability that industry needs to succeed in the new century. It's about having a hunger for doing things better and faster.

Companies that are going to succeed will be those that can bring to market as soon as possible new ideas embodied in new services and products and keep doing it.

To be innovative requires good management; it requires a highly skilled and engaged workforce; and it requires access to innovative thinkers and networks.

At any scale, business finding the right connections and networks can mean the difference to achieving a competitive edge. There will be setbacks and failures but, if we are innovative enough, there will also be great successes.

The Prime Minister made a very perceptive comment recently when he said that there was no such thing as old industries; there were only industries that don't innovate. I couldn't agree with him more.

Heather Ridout, CEO,
Australian Industry Group

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