Looking beyond the crises

In a world of widespread uncertainty, radical changes and perilous budget times such as these, should companies invest in research, development and innovation? It’s a no-brainer according to DNV and the Kongsberg Group. The Norwegian blue-chip companies firmly believe the intersecting global crises represent an opportunity to experiment with innovations to ensure long-term survival and growth.

For many companies one of the main barriers to carrying out in-house research and innovation remains the reluctance of top management to approve investments where they remain uncertain about the level of returns on offer – especially at a time when they work through troubling global crises and focus on short-term issues. 

Fortunately, not all are cutting back on investments in research, development and innovation which they see as the seed-corns of their future. One such company is DNV. It’s not often a risk management and assurance company carries out hands-on research but DNV is at the forefront of stimulating the development of innovative solutions and services which aim to contribute to the development of safe and sustainable operations.

DNV’s annual Research Review is a good example of how it materialises this, together with its industry partners. Check out its latest Research Review publication which provides information about its featured projects https://www.dnv.com/research/review-2022/index.html and describes how its researchers are working to safeguard life, property and the environment across a broad spectrum of industries.

Norway’s Kongsberg Group is also a prime mover in innovation. With its breadth of products and services, the high-tech company is many things to many people. But at its heart is a strong focus on people and technology to develop sustainable solutions across multiple markets, including maritime, energy, defence and aerospace.

As part of its efforts to sustain the company’s technology leadership, the Oslo stock-listed company established the Kongsberg Technology Forum which is made up of technologists working across its business areas. The forum sets the company’s technology agenda and also creates an environment where their people bring ideas to the fore. This approach, and its collaborative innovation with external entities, has yielded tangible benefits in the form sustainable long-term value for the company, its customers, stakeholders and society in general – all of which can be seen on the company website KONGSBERG

Clearly, business as usual is not enough to meet the complex challenges companies face, and their leaders want to know how new technologies and techniques could be used to solve them.

Kudos to the DNV and Kongsberg leadership teams for creating environments that promote collaboration and creative problem-solving. No one doubts that their investment in research and innovation is mainly driven by the need to stay relevant and competitive but their efforts also create innovative solutions and services that spur sustainable development in the industries they serve.

This is especially important in challenging times. Indeed, nurturing research and innovation through the current tough and uncertain times may help to maintain trust among stakeholders and ensure long-term survival and growth.