A dynamic system of innovation describes an investment in science arranged to emphasize long-term performance and sustainable development. Dynamic systems of innovation account for the indirect implications of development, extending a project’s feasibility analysis beyond the scope of net earnings and into the realm of sustainability.
In the past, engineering investments have been undertaken in a direct response to distinct market demands. Financially experienced senior management often hold authority technically skilled individuals, leading to decisions being based solely on economic outcome with little or no consideration given to the sustainability of the venture. This ‘old school’ arrangement is known as a myopic system of innovation, where the true costs of development are not fully accounted and practicability is based on the resulting net profit. Myopic systems have governed society for the majority of history, only recently being questioned as a result of the public’s growing social and environmental concerns.
For example, it is commonplace in North America to fabricate products overseas in order to lessen manufacturing expenses – taking advantage of the foreign labour costs. This is a myopic system, as the sole purpose is to exploit a cheap industry without considering the possible socio-economic effects. Luckily however, the public now demands a dynamic system; expecting equitable pay and healthy working conditions for overseas workers - demonizing industries who exploit foreign workers.
Calderbank, Noreen E. . "Engineering as a Profession." Engineering Ethics. Western University. Professional Engineers Ontario, London, Ontario. 19 Feb. 2013. Class lecture.