Innovation in a Rapidly Evolving World
November 13, 2013 | 4781 views
Skoll World Forum has partnered with Landmark Ventures to produce an online series of op-eds to spotlight innovative solutions to a wide range of societal challenges. Tied to this year's Social Innovation Summit, which takes place on November 19th and 20th at Stanford Business School, contributors to the series include key speakers and delegates such as Shannon Schuyler of PwC US, Somaly Mam of the Somaly Mam Foundation, Dave Evans of Cisco, Sarah Elizabeth Ippel of the Academy for Global Citizenship, and more. The Summit is a twice annual event that represents a global convening of black swans and wayward thinkers. Those who are playing at the nexus of technology, investment, philanthropy, international development, and business come together to investigate solutions and catalyze inspired partnerships that are disrupting history.
Our world is being shaped by inescapable global trends that cannot be ignored by any business or innovator hoping to alter the course of some of the most threatening social and environmental issues of our time.
Now, more than ever before, it is clear that the disruptive thinking that is a necessary part of the process of innovation is no longer enough. Innovation in itself isn’t the solution. Ideas need to be scalable, and they need to be informed by the global forces shaping our world so that they can withstand them. Simply put, we risk missing the opportunity to turn a great idea into a truly innovative solution if we only consider solving the issues of today’s world, not tomorrow’s.
Consider some of the most interesting global shifts occurring as we speak. According to Cisco Internet Business Solutions Group, there are more connected devices than there are people on the planet. What will it mean for business models and consumer expectations when in 2020, there are more than 7.6 billion people on the planet with almost seven connected devises per person? How should technology play a role in helping address the problem? According to the UN Department of Economic and Social Affairs, Population Division, the world population living in urban environments is expected to increase by seventy-two percent by 2050, from 3.6 billion in 2011 to 6.3 billion in 2050. How will that impact job availability, trade flows, health and security? How will the availability of resources and ongoing climate change affect—and be affected—by this shift? And when the UN report on World Population Ageing (1950-2050) predicts that twenty-one percent of the world’s population will be older than sixty by 2050, what will be the impact on taxes and social programs? How will businesses reengineer to accommodate their aging workforces?
With an awareness of these trends, we can begin piecing together what the world of tomorrow will look like, and we can begin to create lasting solutions.
The problems plaguing our world today will not be cured by yesterday’s remedies. New ideas need to be informed by the past but not constrained by it. To achieve real change, we must push ourselves beyond incremental solutions. This is as true for society as it is for business. According to PwC’s Breakthrough Innovation and Growth survey, companies are largely focused on innovating in incremental ways that are safe, profitable and important for their growth. However, organizations with the most aggressive growth targets are concentrating on a greater proportion of breakthrough and radical innovations that truly change the game. These leaders, or those who are taking a more comprehensive approach to innovation (20 percent of our study), are expected to grow by more than 60 percent over the next five years, a growth target that is twice as fast as the global average in our study.
Innovators must also have the willingness to collaborate and work together. Nearly all respondents in our survey plan to focus on strategic partnerships. These relationships are the ones most likely to help companies find new ventures, share the risk, and commit more resources to develop innovative ideas. But it’s this diversity in perspective that is critically important to identifying and cultivating the best ideas.
The Social Innovation Summit has served as a catalyst of change. It helps illustrate the beauty of what can be created when two or more groups unite, across sectors, pool their assets and ideas, and address an issue in a way no one else has before. But these collaborations aren’t just about getting someone else to do half of the work. They are about re-imagining what can be done when we challenge ourselves to utilize our strengths in ways no one has previously.
Money isn’t our greatest asset when solving societal issues. If you take a look at education, for example, it’s clear to see on both a global and national level that simply spending money hasn’t fixed the problem. It’s time to commit to tackling these societal issues with our other assets—our talent, resources and ideas.
We can no longer afford to keep our assets too closely guarded out of fear that our competitors will step in and achieve an advantage. It is only by sharing our ideas and assets that we can re-imagine solutions that can be sustainable in our rapidly evolving world, and that is where true social innovation lies.