Competing in an Innovation Economy

Innovation means many things to many people, but few would disagree that innovation is critical to progress and the cornerstone of a competitive economy.
    
Innovation has always been a major business driver for HP. At our core, HP is a group of entrepreneurs who continue to be excited by the next invention coming out of the “garage”.  But, while we are energized by competing in an innovation economy, we cannot ignore the inherent risks and complexities.

While technology and innovation are key enablers of any economy’s ability to compete globally, the benefits of true innovation go much further. They evolve and build on one another and, once commercialized, they have the ability to enhance the quality of business but also the quality of life of all citizens.

Competitiveness is built on the shoulders of a healthy, happy workforce that is drawn to an area not only by economic opportunity but also by the quality of life they can expect. Prime considerations include healthcare, environment and infrastructure – all of which can be enhanced through technology innovation.   

In order to realize these benefits, we all need to work together to drive innovations that enable these changes. How do we do that? By focusing on three primary requirements – talent, partners and a global view.

As a senior executive in this industry, I can attest to the importance of skilled professionals to our business. As a major employer in Canada, HP relies heavily on our education system to develop and provide the skilled professionals we need to continue to build our business on. And, when I talk of skilled professionals, I mean possessing skills over and above the subject matter they study.

There is a need in today’s fast paced work environments for recruits to already possess the skills of adaptability, collaboration, teamwork and leadership. In industries such as IT, though technical acumen is critical, it is often these skills and attributes that can make the difference between an employee who meets job expectations and an employee who integrates well and truly excels in their career.

As the Canadian workforce shrinks due to an aging population, we must ensure our young generations are acquiring the proper skills and are sufficiently satisfied with the job opportunities in Canada that they choose to stay here.
 
Business must step up to the responsibility in order to help our education system stream our best and brightest into appropriate programs and ensure the programs are relevant to real world needs.  

There are several ways to accomplish this.  Partnering with educational institutions is an important one. Such partnerships can provide the kinds of dynamic environments required to keep graduate students here in Canada and develop world-class expertise at home.

HP’s Technology for Teaching Grant program represents a continuation of HP Canada's longstanding commitment to education in Canada. Between 2004 and 2006, HP Canada donated more than $4 million to education initiatives. One good example of a beneficiary of this program is Trent University. Trent University will use HP wireless Tablet PC technology to enhance learning in Forensic Science. They’ll do this by implementing these hand-held computers into their Crime Scene Investigation course and Forensic DNA Laboratory course as “electronic forensic notebooks”.  

What is really exciting is that these portable notebook computers will revolutionize the way DNA evidence, photos and written observations are handled by electronically linking them immediately at the scene, thereby maintaining the integrity of the data for future use in court.

By integrating technology in meaningful ways into classrooms and adapting courses accordingly, instructors can increase student achievement and interest and prepare them for greater success in the competitive global workforce.

Without a strong talent pool we can accomplish nothing, but I would venture that without a robust network of partners, we will be equally disadvantaged. Partnerships advance goals that would simply not be attainable by a single company, government department or industry association. The results driven from these partnerships can impact business and society on a broad geographic scale.

The kind of cooperation necessary to produce the benefits we can all aspire to requires companies to remove themselves from their day-to-day competitive mindset and commit to working together to expedite solutions to pressing problems. What determines how successful we will be really comes down to effective partnerships and collaboration between the public sector and the private sector, between companies and even nations. Partnerships fill in gaps in knowledge, funding, resources and expertise that drive new discoveries and accelerate the progress exponentially.

Looking beyond your current markets provides a view to trends in your market, related industries and social trends that could affect the way you compete. It can also be an opportunity to consider issues and problems you may not be aware of but can help solve.

As a global corporation, we have the responsibility to use our economic power and our technology to make a positive impact on the world. We can be innovative in the way we utilize our resources and skills to make a social impact while still furthering our own business goals. To help achieve this, HP looks to collaborate with respected organizations whose social and environmental goals align with HP’s.  And that’s where the World Wildlife Fund (WWF) comes in.

On November 8th 2006, HP and WWF announced a comprehensive, joint initiative to reduce greenhouse gas emissions from HP’s worldwide operating facilities. The two organizations also agreed to work together to educate others about best practices in energy use, and the WWF would begin utilizing HP technology to advance energy conservation efforts around the globe.

The WWF operates the gold-standard voluntary corporate program on climate change. Roughly a dozen major companies already participate, which will result in a reduction of ten million tons of carbon dioxide each year by 2010. That is the equivalent of taking two million cars off the road globally.

So in conclusion, there are many ways in which innovation can benefit your organization. Through talented employees and the boon of well applied knowledge. Through strong and aligned business partnerships, both public and private. And through a global view that can help you understand the changing landscape in which you compete and help the communities which you serve.

For HP, we have found that innovation at the core of our experience and talent can help us achieve in all of these areas. And it can also help you.

I believe we are at one of those points in history right now, where the potential of technology can indeed change the world, not just change how business operates, but change how our society operates, improve and change lives for the better.

I also believe that if you look within your organizations at the talent, knowledge and experiences that your teams have, you too can make a difference. A difference in the way you do business and how you compete. In the end, all of us learn from example and experience. I hope we all strive to provide both for those around us.