Creating an atmosphere where your business can develop innovative ideas and practices requires a shared understanding of the "stakeholders" involved in the process.
How well can outside entities, such as local business incubators or established enterprise zones, move businesses toward innovative success? What role can governments play in innovation?
I came across the web site for the United Kingdom's Department of Business and their strategies to assist British companies in competing more effectively on a global scale. They have a nice, working definition of innovation: the successful exploitation of new ideas.
The department also states "Evidence shows that businesses that have the awareness to continually create, evaluate and successfully exploit their new ideas are more likely to survive and prosper in the competitive global economy."
A key question I ask is: do government regulations stand in the way of innovation?
In my opinion, government and its array of needed permits, penalties, and inspections, is based on a punitive arrangement. You do something wrong and you get fined or shut down.
To dig deeper in to the subject, it would be interesting to review the UK's Department of Business site and the types of industries to which they offer services. And then, to see if there are regulations from other government agencies that prohibit innovation or make innovation more challenging to implement.
Maybe that's a project I'll try to start this Labor Day weekend. But only after I go swimming!
No comments:
Post a Comment