Opinion

IR system must not stifle innovation and productivity

Productivity won’t rise without innovation. That only happens inside organisations with a strong sense of mutual obligation and minimum interference from third parties.

Beth Webster and Bill Scales

Sep 5, 2022 – 1.30pm

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It is not possible to have an increase in a nation’s or an organisation’s total factor productivity without innovation, and the creation of new and improved products and services.

Innovation just means change that leads to increased value to the organisation and its customers and partners – change using new ideas. Without change, organisations will just go on producing about the same amount of goods and services per hour worked.

Beth Webster is the pro vice chancellor, Research Impact & Policy and director, Centre of Transformative Innovation at Swinburne University.

Bill Scales was chancellor of Swinburne University and chair of the Industry Commission, the predecessor to the Productivity Commission.