Will the induction of new technology present any menace to traditionalists? Of course it will. Innovation, by definition, is a undermining force. That is why we will need real leaders to champion the innovations. Leaders motivate people to think and act differently. We need to make sure that we are on the winning side of new technologies.
We must choose anything that will bring greater urgency and velocity to the search for new products, or advancements of existing ones, that are truly innovative. We can find some clues on how to act by studying the history of innovation. Here are some lessons learned.
- The instinct to create or innovate can be encouraged. We can systemize innovation by encouraging bright people with a real diversity of talent to work together in teams.
- Nothing stimulates innovation more than the rapid exchange of information, knowledge, and ideas. Faster transmission begets greater discovery. We see this in e-commerce. Amazon.com may constitute the greatest innovation in the distribution of the written word since the printing press.
- There must be obvious financial incentives for successful innovations. Undoubtedly, financial incentives add fuel to the fire for high-tech companies in the business-related world. But there is still a dearth of attractive financial incentives in defense procurement. Many leading companies have turned their backs on military R&D and defense contracting as a result of poor profit margins and red tape.