Innovation of Business

and the
Business of Innovation™
 
Innovation Newsletters

Market Engineering®, Inc. Launches a Series of Essays on Innovation. Delivered twice a month for years.

These essays are based on 25 years of consulting with clients in industry, government, the military, and NASA.

Innovation is the solution to financial depressions, business growth, personal wealth, and development of advantage. We all hold responsibilities to share ways to develop revenues. Please share this information with others.

 Aurora, Colorado (PRWEB) October 24, 2012

Opt in at www.Market-Engineering.com/newsletters.

Short Example

Innovation and Entrepreneurship

Creating the Future

Innovation is a powerful concept, hyped by many, yet all too often misunderstood, misapplied, and underutilized.

Peter Drucker once defined entrepreneurship as, "The practice of systematic, managed, and purposeful innovation." His statement can be interpreted to mean that entrepreneurship is purposeful innovation of businesses, and business is purposeful innovation of products and processes to produce return on investment.

Innovation of business and the business of innovation

Every business must evolve both itself and the value it delivers to a range of stakeholders. To envision the full scope of innovation, let’s grow our perspective step by step.

A product is way to satisfy needs of targeted customers and other stakeholders. On the commercial side, we commonly recognize products, services, technologies, processes, expertise, business models, strategies, facilities, and investment opportunities. Now expand that for government (e.g., maintained infrastructure), education (knowledgeable graduates), military (security against threats), and the arts (symphonies, paintings, sonnets).

The business of innovation drives change
in civilization worldwide.

Thinking more broadly, note that a business itself is a product… perhaps of corporate strategy, perhaps of plain hard work.

Entrepreneurship is the innovation of new,
free-standing businesses.

“Intrapreneurship” is innovation of businesses within existing organizations, and is vastly more common and more productive than entrepreneurship. Every businesses in every sector and industry serving any market must innovate or lose advantage

Innovation of business is the only way to meet
evolving challenges of competitive

Expanding mindset again, innovative businesses may offer products so new that no current market exists. Effective launch of such a product literally creates its own market.

Innovation has the potential to deliver
opportunities far beyond normal expectations.

The next step up is an industry. The computer industry was an innovation half a century ago. Biotech is exploding today. Commercial spaceflight is coming. With persistence of large numbers of innovators, innovators consistently develop whole new industries. Indeed, the transition from industrial age to information age now leads to the “web” age currently dominated by FaceBook, Google, and Apple. Anyone younger than 60 will be part of an age that pundits have yet to name.

Innovation changes everything,
from choices of products at a store to the way nations work.

Human civilization is about 10,000 years old. It is now the highly complex sum result of innovating and re-innovating social constructs (e.g., constitutions, government) and social contracts (agreements to honor constructs). Survival as a species now requires innovating new constructs and contracts leading to preservation of ecosystems and peace among Humans everywhere.

Innovation may be the single most valuable asset
Humanity will ever own.

Your lifelong challenge will be to learn fast enough to match the pace. Colorado Innovation Newsletters will be part of that learning. Both reader and author will extend learning through the blog at www.ColoradoInnovationNewsletter.com.

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Challenges of Innovation

A Language of Business

A language of Innovation

Introduction to Innovation

Introduction to Branding

The Innovation System

Core Principles of Innovation

Core Roles of Innovation

Becoming Strategic

Promises Made by every Businesss

 

 

 


 



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