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While some big companies and accelerated programs may successfully innovate, there is no reason why the rest do not take advantage of these opportunities and help build a culture for innovation that transcends all boundaries. Many organisations and countries continue to strive to innovate while their innovative potential haemorrhages when talent and opportunities are stifled, inhibited, and discouraged with the many prevalent limitations.
Talented individuals, ideas and capabilities are either capped or lost to rivals thru overseas opportunities with better incentives, conditions, dynamic environments and prospects. To stem this tide some appreciation is needed on how to innovate, reposition, transform and adapt to achieve the desired results. Effectively, to strive towards a culture of innovation that delivers. This entails an investment and commitment to innovation that is critical to drive economic growth, especially when competition is fierce and second place holds little reward.
The Organisation for Economic Cooperation and Development, OECD and their Innovation Strategies offers some general insights and guidelines. But, considerably more is needed to link global efforts towards advanced infrastructures and models for innovation to become effective with better systems. Clearly there is lack of innovation spirit and governance that steers, co-ordinates efforts and inspires strategies. History holds many valuable lessons that beckon for better models to stimulate innovation with new incentives and structures that can endure. Currently, it seems that a little knowledge is dangerous when the pursuit for innovation contributes to poor systems and an uncertain future as history repeats itself with half-hearted efforts.
Some ideas to restructure and inject incentives that can overcome the prevalent limitations are discussed in this article:
- Break down the barriers
- Enable Intellectual Property
- Empower with better structures and incentives
- Protectionism policies or forge new industries.
- Legacy versus Transformations
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From opinions to councelling to pearls of wisdom: enjoy the insights and ideas drawn from this article. May it trigger innovations as it is launched into public consciousness.
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