Top 3 Innovation Drivers Revealed
If necessity is truly the mother of invention, then the conditions the world faces today should be the ideal triggers for an environment of breakthrough innovations. The following three trends will drive the next wave of new products and services.
Economic Blues: History shows that when the economy stumbles badly, entrepreneurs use this as an opportunity to create "engines of change." During the Panic of 1907, for instance, Henry Ford redefined how manufacturing was done by devising a far more efficient assembly line process. The result was increased productivity and reduced costs, leading to transportation and cultural revolutions that had powerful influences on how America grew and prospered in the 20th century. The year 2009 can present a similar platform for innovation for those willing to rethink the way products and services are created and delivered.
Boomer Influence: While all forms of media continue to demonstrate a bias toward youth, the facts of the aging baby boomers tell a different story about economic influence, growing healthcare issues, lifestyle changes and generational transfer of wealth. In America alone, 76 million baby boomers have an annual spending power of $2 trillion. This group exerts a huge influence over worldwide cultures, behaviors, values and the industries that covet them most.
A Greener World: The 19th century was powered by coal, and the 20th century was powered by oil. Recognition of what past and current human behaviors are doing to our planet have us now moving into an era that will be powered by the sun, the wind, wave motion and renewable energies. Consumers and businesses are demanding green products, and there's money to be made. Nearly 60 percent of us buy from companies that give back, and more than half of us purchase so-called "green" brands.
So if you are an innovator, or work for a company that values or supports innovation, the silver lining behind the mess that the world is in right now is simple: An opportunity exists for game-changing innovation that could be once-in-a-lifetime.
Click here to read this article in its entirety.
Economic Blues: History shows that when the economy stumbles badly, entrepreneurs use this as an opportunity to create "engines of change." During the Panic of 1907, for instance, Henry Ford redefined how manufacturing was done by devising a far more efficient assembly line process. The result was increased productivity and reduced costs, leading to transportation and cultural revolutions that had powerful influences on how America grew and prospered in the 20th century. The year 2009 can present a similar platform for innovation for those willing to rethink the way products and services are created and delivered.
Boomer Influence: While all forms of media continue to demonstrate a bias toward youth, the facts of the aging baby boomers tell a different story about economic influence, growing healthcare issues, lifestyle changes and generational transfer of wealth. In America alone, 76 million baby boomers have an annual spending power of $2 trillion. This group exerts a huge influence over worldwide cultures, behaviors, values and the industries that covet them most.
A Greener World: The 19th century was powered by coal, and the 20th century was powered by oil. Recognition of what past and current human behaviors are doing to our planet have us now moving into an era that will be powered by the sun, the wind, wave motion and renewable energies. Consumers and businesses are demanding green products, and there's money to be made. Nearly 60 percent of us buy from companies that give back, and more than half of us purchase so-called "green" brands.
So if you are an innovator, or work for a company that values or supports innovation, the silver lining behind the mess that the world is in right now is simple: An opportunity exists for game-changing innovation that could be once-in-a-lifetime.
Click here to read this article in its entirety.