Innovation, from high profile scientific discoveries to lower profile changes in processes or practices, is crucial to Australia's economic development. However, its impact on the wider community is usually relatively small. Promotion of innovation across all sectors is required to produce the biggest changes. This report focuses on the roles of the vocational education and training (VET) sectors of Finland and Singapore - countries with strong track records in innovation. It argues that a whole-of-government approach supporting a national innovation system could benefit Australia. Further, the national VET sector is ideally placed to have a more direct role in the promotion and diffusion of smaller scale innovations provided incentives in the form of specific funding are put in place. This activity could also enhance the sector's links with business, particularly small to medium sized enterprises and those in regional areas.
Vocational education and training (VET) policy is increasingly focused on the importance of quality in each VET institution's capacity to deliver effective programs. This report addresses institutional-level monitoring and evaluation of performance and provides a comprehensive model which institutes can use for this purpose. The model draws on background theory and practice and identifies a range of relevant indices across three dimensions: inputs, processes, and outputs/outcomes. The results are an important first step to an improved and empirically based understanding of the factors that contribute to successful outcomes from VET providers.
Multinational corporations are significant in the global economy, and increasingly important to national economies. Based on a literature review and 12 case studies of multinational corporations operating in Australia, the study finds the quality of the domestic VET-skilled workforce is ranked equal third in importance, out of fifteen factors, when deciding to invest in Australia. To make the VET system more attractive to foreign investment, the multinational corporations in the case studies recommended better overseas publicity of the training system, and improvements to literacy, numeracy and production knowledge of lower-level workers in manufacturing.