24-25 Jul 2024

Innovation has the power to generate industry-wide change

May 24, 2016

Simply doing what was done last year with waste contracts can be a potential barrier to innovation.

Innovation is a water cooler conversation word – it’s overused and underappreciated. While every organisation wants to be seen as innovative – a characteristic that is associated with being versatile, capable and courageous – most are at best, early adapters.

Real innovators are pioneers. The black sheep who stand out because their work is significantly different from conventional industry approaches.

However going against convention can make real innovation a touch call in business, largely because real innovation disrupts flow. It can show up industries for what they are – either resistant to change, or flexible enough to adapt. This is why real innovation has the power to reinvent our world.

So how do we drive change?

Innovation requires raised awareness, a digitally-enabled skill-base, and alignment between policy and industry that promotes change. It takes strength to transform a great idea into something useful, while managing the opinions of mainstream operators. To manage that, an organisation needs to be strong internally, with effective operational systems and strong partners who share an appetite for risk.

Being open to innovation prompts economic growth. It nurtures new industries, encourages employment and secures processes that align with the requirements of our planet. “Innovation encourages sustainable practises and brings out the best in us all,” says Banksia Foundation CEO, Graz van Egmond.

Innovation underpins sustainable business, so it makes good sense to celebrate it as this year’s theme for the Banksia Sustainability Awards – the long-standing national advocate for sustainable business.



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