Why lies between our ears, the sum of our experiences and the collective creative thoughts about the future is the fuel to economic value. In the past economic development was fueled by era’s of machines and information and subsequently models of organizations were built around “producing things repetitively” which were then put out into the market of consumption. Today the masses are producing a new kind of product for consumption, knowledge.
Knowledge is this funny intangible (as some say) thing that most organizations do not know how to measure, manage or leverage into something consumable. Consider the ongoing obsessesion with the ROI from social media. Fundamentally social media is a new and powerful communications channel used to share information and knowledge for consumption by others. Today the marketplace is primarily using social media as a marketing vs. a knowledge channel. You could say that marketing is a knowledge channel if you frame as a tool of awareness. However knowledge is a lot more than awareness rather it is the root of innovation to those that know how to use it correctly.
A New Economic Era Fueled by Capturing Innovation?
Innovation is a process of leveraging knowledge, new and old, to create new value for consumption. Leveraging knowledge comes from numerous points of input. Social media is the channel of “points of input” that enables people and organizations to leverage collective input and subsequently create new value.
Dan Robles writes: Does the Merchant Class allocate land Labor and Capital to the a great extent in an Innovation economy? The accepted statistic is that 70% of a company’s value comes from human capital and the creative solutions that they produce.
Conversational Currency is defined in terms of new Economic Paradigm because that the road toward monetization is not paved upon on the road map of the industrial revolution:
In order to leverage knowledge one must know where it is, how to capture and leverage it for creation of new value. Then and only then can one expect to create new economic value. What say you?