Innovation is the foundation for sustained growth. This is true both for companies and for nations. Being better at innovation is critical for Australia to ensure our national prosperity in the modern era.
In today’s high cost and highly competitive markets, good companies will always seek efficiency and productivity gains through incremental innovations — for example, process improvements and adoption of best practices. But at the same time, they must also drive up market relevance and value for money for high-cost products, by seeking out value-creating innovations using science, technology, design, art and reverse hermeneutics — productivity defined as doing smarter things in smarter ways.
