Don't let 'junk' call halt on innovation

The recent downgrades of the South African economy have been the source of much panic across the country. Organisations have been feeling the pressure of hastily needing to devise plans in response and revise their strategies to accommodate the uncertain future ahead.

War-room discussions and urgent crisis meetings have become the new normal.

The risk of operating in this kind of panic mode is that we shrink back and tend to opt for more defensive and safer business decisions, instead of maintaining the growth-oriented mindset that everyone was operating under in the not-so-distant past. We lose perspective on the bigger issue of growth.

Panic is dangerous because it results in decisions and behaviour that are the opposite to what is needed to foster a growth-friendly environment. We react by pulling back on the much-needed innovative initiatives that are orien ted towards growth - even though those innovations are exactly what is needed to continue to meet evolving customer needs.    

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We need to stop opting to continue with the status quo during times of pressure - especially because it is in times of economic pressure that customers become more demanding and sophisticated. The more there is pressure on their wallets, the more they demand from the businesses that serve them.

By choosing to remain innovative in your approach during times of pressure, you are increasing your chances of being among the few organisations that are able to keep up to speed with the evolution of customer needs and behaviour.

You cannot expect to grow without innovation. So be cautious about cutting back on innovation-orien ted initiatives - they may be riskier and more challenging than the old-school way of doing things , but they might also be the only way to guarantee customer retention, remain competitive and drive growth.

It is disheartening to see innovation-oriented entrepreneurs begin to doubt themselves and the value of their ideas as soon as the economic environment becomes difficult. Some are quick to desert their plans, instead opting for the safety and security that comes from a regular job somewhere. When this kind of entrepreneur abandons their original path, it potentially cripples the economy by forsaking what could have become the very innovations that could grow to have a nationwide impact.

Innovation breeds best when driven by an entrepreneur who is not constrained by the processes and structures that prevent large organisations from consistently remaining innovative.

If we encourage our entrepreneurs to start appreciating the impact of their innovations at a national or even global level, we might just see fewer people opting out.

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Simply looking at the tremendous value and impact that entrepreneurial innovations have had across our continent should be encouragement to stay on course.

The ability to increase access to power in innovative ways is one good example of how entrepreneurial innovations have taken us to new heights - a notable example being the young innovator from Malawi, William Kamkwamba, who built a wind turbine power system for a whole community from bicycle parts, trees and scrap materials.

His story is a good reminder that we should not let our environment constrain our ability to innovate and make a significant impact. A lack of funding should not be cited as a constraint on innovation. We can be innovative merely by using the scrap materials that surround us.

Notice what has been achieved in the local art space, for example. Up-and-coming artists are using scrap materials from everyday life to design artistic masterpieces of tremendous value.

Innovation has played a significant role in driving economic growth while simultaneously improving the lives of those who could barely meet their day-to-day needs because they lived in the poorest and least- accessible communities.

When designed well, innovative technologies, systems or products will eventually have a worldwide impact - perhaps able to meet needs that even the original innovator never imagined.

zipho@ziphosikhakhane.com

Sikhakhane is a business speaker, facilitator and adviser on leadership, entrepreneurship and Africa, with an MBA from Stanford University