Given the uncertain economic conditions people and businesses are looking for more effective ways to do more with less. Finding more effective ways to do more with less drives people to be creative and leverage innovation. When pressed with new challenges leaders look for innovation as the means to create new solutions at less cost. The social web is an attractive draw for innovative and creative minds.
Creativity and innovation are the drivers to the creation of new markets, new methods and productivity. Dan Robles writes: Many people have a deep sense that something very new, something very exciting, and something hugely lucrative is coming down the road as Web 2.0 converges to Web 3.0. Our hope is that we can capture it in our communities before it passes us by and becomes “Incorporated” in the old business model.
If we work together, Innovation Economics can be the best way to capture the engine of wealth creation and distribution for ourselves and our communities. Now is the time to build the Innovation Economy.
Which Business Leaders Will Lead Innovation?
One might expect the BIG corporations to lead markets by bringing innovation to market. While the likes of Google, Microsoft and Yahoo are certainly bringing innovative technology to market the real market is to those that learn how to apply innovation in creative ways that builds business.
Click Through reports: Over half (55 per cent) of small company owners believe that social networking sites have a place in the business world, a study by SurePayroll has found.
According to the research, one in five of the owners had already obtained trade as a result of using the social media, which includes websites such as Facebook, MySpace and Twitter.
David Rohrer, SurePayroll’s online marketing manager, said that social networking has risen in popularity with small businesses, as the advertising is a cheap and effective way to connect with customers.
He added: “It is no longer just an outlet for personal use – it’s rapidly becoming a must for business success … What’s so great about the online world is you don’t need a million-dollar marketing budget.”
Who Will Create The Most Value From Innovation?
Kevin Kelly writes in his book,New Rules for the New Economy: “The pace with which technology is changing necessitates a broader outlook on doing business. They’re not the conventional ways to deal with things, All of these things are kind of disruptive new out-of-the box ways to think about our life and how we interact with the connected world.”
“The big will become small and the small will become big” The shift in power to individuals is the tipping point of enablement of the amateur to become the professional, the entrepreneur to become the titan of market shifts and the individual users to become the new economy.”
“Individuals, properly constituted into a swarm and unrestricted by the rules of the old business game, are sharing, collaborating and developing creative uses of social mediums and yielding smart results. The rules of the game and the game of business itself are changing. The dynamic of our society, and particularly our new economy, will increasingly obey the logic of networks.”
Understanding how networks work will be the key to understanding how to capture and create innovative ways to create new economies..
What Say You?