As table 25.16 shows, most businesses (around 90%) undertaking technological innovation rated 'reducing costs', 'maximising profits' and 'improving productivity' as important objectives of undertaking technological innovation. Most of the objectives listed in the table were considered important by a large majority of businesses.
25.16 OBJECTIVES OF UNDERTAKING TECHNOLOGICAL INNOVATION - 1996-97
|
| Importance of the objective |
|
|
Objective | Not applicable
% | Not important
% | Important
% |
|
Reducing costs | 4.1 | 3.9 | 92.0 |
Maximising profits | *4.4 | *3.7 | 91.9 |
Improving productivity | 6.2 | 4.7 | 89.2 |
Responsiveness to customers | 6.0 | 6.3 | 87.7 |
Improving quality/speed of service | 6.9 | 5.5 | 87.6 |
Increasing market share | 7.3 | 8.1 | 84.6 |
Being at industry forefront | 11.7 | 8.3 | 79.9 |
Expanding product range | 10.7 | 10.3 | 79.1 |
Improving staff safety/working conditions | 11.2 | 10.1 | 78.7 |
Establishing a new market | 10.8 | 11.5 | 77.7 |
Being environmentally aware | 16.0 | 14.4 | 69.6 |
Meeting Government standards/regulations | 13.4 | 17.2 | 69.5 |
Seeking/expanding export opportunities | 31.8 | 17.7 | 50.6 |
|
Source: Innovation in Manufacturing, Australia (8116.0). |