Whether we like it or not, current economic conditions, indeed our very economic model of boom and bust, demand that responsible managers take cost out of their business. It is the ugly side of our collective bargain in business. The more enjoyable side is innovation - making a difference by thinking differently. Never before (an over-used term, but indulge me) have the two been in such a tense standoff. After all, what is innovation if not ideas that have a long term and uncertain payoff? Clearly this is where you start in your cost cutting to minimise unfortunate trade-offs. Or not?
Take the macro view for a moment. Productivity growth is a key driver of economic growth, a major determinant of our prosperity, and in places like China, social harmony. Innovation drives productivity growth. Australia's Productivity Commission tells us that whilst we have had a blessed decade as far as economic growth is concerned, it wasn't due to productivity growth, at least not in the last 5 years. In the last long while, Australia has had a miraculous shift from manufacturing to services, but it has all been a side-show to the economic dominance of our land, that is, what we nurture in/on it and what we take out of it. In other words, the clever country has a lot to learn. West Coast U.S. has its venture capital + university innovation model. Even Israel, with all it has on its mind, achieves a commercial symbiosis between venture capital and the military machine. Ever tried wandering around an Australian campus looking for ideas to commercialise or brains to work on your own? It's pretty lonely. I haven't tried the military.
But let me guess, even the shoe shine boy is now telling you stories about how empires like Microsoft and Apple were launched in a recession as if it were that easy. The fact is that to zig when others zag takes real bravery. Bravery in management. Bravery versus management.
SEMA’s recent Insight Exchange events were focussed on Innovating to Recovery – an idea we would all like to be true. In sharing market experiences with our clients and identifying best practise I believe there is real chance, and certainly more than a hope, that it is. If SEMA can encourage dialogue on this, our shared and collective responsibility, to make Australia clever, that is a good thing.
Background Reading:
Presentation Innovating to Recovery.ppt (1.20 mb)
Best practice links
Guest Speaker
Anni Rowland-Campbell
www.intersticia.com
SEMA new product profiles
FC00856_Sema_Dynamic_Messenger_Fact_Sheet_[P].pdf (230.67 kb)
FC00857_Sema_Engage_Fact_Sheet_[P].pdf (196.93 kb)
FC00854_SecureDOCS_Fact_Sheet_[P].pdf (245.46 kb)
FC00855_Contact_Center_Marketing_[P].pdf (196.56 kb)
FC00855_Contact_Center_Operations_[P].pdf (195.62 kb)
SEMA Beta Testing Invitation Join us as we trial some of our newer products like analysis of customer conversations, super charged essential mail, closed loop accountability management and customer community development. Many of our newer products focus on the disruptions caused by the digitally enabled end consumer. If you would like to test some of these initiatives, please email your interest to michele.berkhout@semagroup.com.au.