Be Future Smart, Innovate

Princess E. Sinclair

In the past, standardization and standards have allowed mankind to thrive, grow and prosper. However standardization has often been perceived as a contradiction to innovation.  Standards form the basis of our professional and private lives and innovation is now the major source of growth and welfare for our economies. 

The challenge both for decision and policy makers in industry- the Public Sector, the Service Sector and Communities is how to make an effective and efficient use of standardization to promote innovation, especially since the traditional view has always been that standards and innovation contradict each other.  

Standards also provide a tried and tested framework for taking new ideas from the drawing board or development bench all the way to commercial production and diffusion . They define the essential parameters, the safety considerations, testing processes, and how to move to prototyping and scale-up. 

Innovation is often classified into four different types namely radical/disruptive innovation (new designs and systems), incremental (refine and improve), architectural (changes in relationships between core designs and concepts) and process innovation (changes in process to bring about improvement), especially in services. This is so, as innovation is essentially doing things differently, doing new things or effecting renewal.

One of the major benefits of innovation is its contribution to economic and societal growth.  Simply put, innovation can lead to higher productivity, meaning that the same input generates a greater output.  As productivity rises, more goods and services are produced – in other words, the economy and society grow.  

Innovation is an essential driver of economic, organisational and social progress that benefits individuals, consumers, businesses and the economy as a whole. How does it play that role, how does it contribute to economic growth and what can be done to promote it? 

In economic terms, innovation describes the development and application of ideas and technologies that improve goods and services or make their production more efficient. 

A classic example of innovation is the development of steam engine technology in the 18th century. Steam engines were put to use in factories, enabling mass production, and they revolutionised transport with the railways. This innovation transformed and improved how societies functioned.

More recently, information technology transformed human and  organisation interactions and the way companies produce and sell their goods and services, while opening up new markets and new business models. In doing so,  human organisation, processes, social systems and life styles changed for the better.

Note that innovation can be planned and need not be disruptive. Those who plan such initiatives become the new leaders and game changers who achieve success and even dominance. 

Good things do come to those who initiate.  Now is the time to get on board the innovation train. Now is the time to plan, develop, review, revise, rethink and renew your innovation strategy. Let us be FutureSmart. Remember that in this iterative, hyper-competitive, fast changing world you dare not risk being left behind. The choice is simple: Innovative or evaporate!

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Princess E. Sinclair is an OD Professional &  Organisation Development Director and

              Lean Six Sigma  Green Belt,  eMail: princess.e.sinclair@gmail.com

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