How can we stop innovation in Singapore?

How does Singapore remain relevant as a commercial hub? How economically resilient are we? How can Singapore businesses and executives 'upgrade' at a faster pace than neighbors with bigger populations and greater natural resources? These are key questions being asked by the government and academics, but ultimately it is the business community that needs to come up with the answers.

Innovation is, of course, the silver bullet. The government has recognised this though its SkillsFuture programme and has challenged schools and businesses to focus on mastery rather than grades as an indicator of success.

But are businesses in Singapore, both large and small, really set up to be innovative? Internally, sometimes it is far easier to be (quietly) anti-innovation than to encourage change.

After all, innovation can be messy, frightening, threatening, challenging, and risky. It’s far more comfortable to rely on the things that have always succeeded. For example, in my business, we know that demand for insurance products and services will be there for a long time—under-insurance is the real issue in most emerging markets.

This means we don’t have to really go too far outside our comfort zones. The old attitudes, methods, techniques, and products worked well in the past, and there’s plenty of under-insured risk to go around. The same can be said in numerous industries, sectors, and professions.

The serious anti-innovationist can call on a well-established set of attitudes and skills which will keep innovation to an absolute minimum in his/her company. First you have to admit that every management role comes with a good dose of fear. Feel the fear: use it.

The Five Fears

We don’t like to admit fear, but it’s the basis of a lot of day-to-day business management. Fear makes us stifle good ideas, miss opportunities, stick with the old and familiar, and avoid new challenging situations. If you really want to avoid the hassle of innovation, you need to work on at least five basic fears. Really experienced practitioners will probably come up with a few more, but these are a good start.

Fear of Failure

This is probably the simplest. All innovation involves some risk. In fact, if you take a Darwinian approach to it, most innovations fail. Everything could go wrong. Your product may not work. Your staff may not rise to the occasion. So, stick to the old methods—they’ve proven themselves in this risky world. Focus on “What if it doesn’t work?” That’ll stop most innovation.

Fear of the Unknown

There’s no doubt that what you don’t know is much more frightening than what you know, and there’s so much you don’t know. So, there’s all the more reason to be really careful about committing yourself to something when you don’t know how it’s going to turn out. And, as you’ll never know how it’s going to turn out because you’ll never try it, it’s best not to try it!

Fear of Flying

Think carefully about success. Won’t that mean even more change, even more disruption, even more chances for things to go wrong? And what if you discover you’re really not up to addressing all the success will bring? The uncertainty is worrying.

Fear of the Known

Let’s face it, the current world is hard enough without having to second-guess what our clients might want in a few years’ time. If clients are signing up or buying your product, well, you don’t have to push that already packed envelope, do you? Besides, there’s a lot you don’t understand in the current environment. Better to wait until you’ve understood the problems and issues you’re dealing with on a daily basis.

Fear of the Futile

We can be really honest. Deep down every senior executive fears the new. Innovation just might be a way of demonstrating how out-of-date, even redundant, you’ve become. Add too much of the new and it might be out with the old. And that might include you.

Of course, none of us show or talk about these fears. Well, maybe just occasionally, in small doses—when no one’s listening. But preaching innovation is easy, and if you don’t face the real issues the slogans are just noise. Real change and real innovation need realism. We’ve kept the fears light-hearted, but there are ways to facing the above challenges and beat them.