One for the Holiday Reading List ...

I’ve just finished reading Ben Kehoe’s book “Innovation in Australia – creating prosperity for future generations”.

I’ve known Ben for 25 years, having first met him when he facilitated strategy sessions at Brisbane-based PanBio – an infectious disease diagnostics company that was ultimately sold to Inverness (which was subsequently renamed Alere and ultimately acquired by Abbott Rapid Diagnostics).

Ben takes a long hard look at innovation in Australian with particular emphasis on culture, government and business.

He laments that primary industries underwrote Australia’s early success, and since then decisions not to add value have been the norm as we continue to export our wealth.

He discusses Government’s view of R&D as a cost rather than an investment, and proposes that there hasn’t been any genuine economic reform since the 1990’s. He puts forward the idea that the Governments role is in creating an environment for business innovation (a market creator and shaper) rather than who we should turn to continually to pour funding into various programs. 

He proposes that Australia’s survival and prosperity into the 21st century will only come off the back of a successful business sector based on major businesses which must change their sole focus on shareholders to also include customers and other stakeholders.

Australia’s culture also needs to change from recreation and lifestyle and letting the government do it. He proposes we need to stop being inward looking and egocentric about our perspectives of the future, to embrace change and overcome the fear of failure. Excuses such as our geographical position need to be thrown out, and a clear vision of what we will look like in 50 years needs to be developed. In this regard, Ben explores the megatrends which will impact Australia in the next 20 years.

Ben has always challenged assumptions, and this book will do the same. Ben’s favourite questions seem to be “why?” or “why not?”. You may not agree with everything he says, but his ideas will certainly make you think, and I recommend this as a great read for anyone interested in innovation.