The video above is a wonderful explanation of a concept of innovation which is so often overlooked:
Individuals who lead innovation gain the most from it. But society gains even more overall in the long run.
At its most fundamental level, it is driven by the forces of economics.
Innovation is driven by supply and demand.
Supply goes up when more people around the world are educated and become inventors, scientists, engineers, and thinkers. This allows them to produce more than they consume and gain wealth.
Demand increases as people’s wealth increases and they have the means to buy new solutions to their problems.
The increased supply and demand result in more innovation in a virtuous cycle.
So put simply, it is good for you when people in a far-off part of the world are doing well.
Sometimes it takes something as simple as a new perspective on innovation to we are all connected.
Latest posts by Nick Skillicorn (see all)
- Podcast S2E39: Bem Le Hunte – How we need to innovate our university education system - September 17, 2019
- Podcast S2E38: Duleesha Kulasoorya – Exponential Technology is already here - September 9, 2019
- Top 1000 companies that spend the most on Research & Development (charts and analysis) - August 28, 2019
- How your company strategy may be sabotaging your innovation ambition - August 12, 2019