There are more than one million students enrolled in Australian Universities. The majority of these are undergraduate students chasing the dream of a better life. They have enrolled because they believe that if they graduate from University then meaningful employment will shortly follow.
They believe this because it is an ingrained cultural narrative that if you go to University you will get a better job.
Unfortunately, these students are following an outdated playbook, and they face an environment where:
There are fewer ‘zero-experience’ entry level graduate roles than ever; and
Employers increasingly do not care that they have a University degree.
The consequence to the student is painful, and the cost to our economy is profound: these graduates are taking roles that someone without an expensive university education can easily fill. If this trend continues then a University education becomes less of a pathway to meaningful employment and more of a luxur
The ability to be or remain innovative depends on the organisation’s willingness to continue supporting not just new ideas and products, but also processes. Continuous innovation requires constantly changing aspirations, expectations and behaviour. There will always be vested interests rejecting change outright or supporting it half-heartedly, even if those vested interests were successful innovators of the past who now feel threatened by new ideas. McKinsey’s “The Eight Essential Elements of Innovation” identified the following requirements for consistently successful innovation:
1. Aspiration: NASA’s success in developing entirely new products - the basis of much of the modern world in electronics, communications and digitization was the result of the bold aspiration set by President Kennedy in 1962, to “go to the moon in this decade”. In a corporate setting, however, the aspirational challenge must translate into departmental targets, if it is to change behavior.