Have you ever wondered whats new in the world of business and technology innovation? how businesses always harness the positive tension around them? How there is always new projects in development? The innovation behind it all means everything. From the small ideas to the largest projects.
When it comes to technology, over the past few years you can truly see how innovative in projects have developed greatly. To think, just before the start of the 21st century, the idea of having WIFI set as a world wide standard for wireless internet to now, in the past few years there has been the creation of nanotechnology. Over time you can truly see how the positive tension pushes the innovation to great measures, in the next few years there is the possibility of huge medical advancement. The creation of brain implants that can remove the major affects from spinal injuries by giving the patient the freedom of movement that the injury could take away.
This is a major break through in the field of medical advancement. Even when it comes to vehicles, the creation of self driving cars and trucks is in development stage. The innovation in the new projects and the positive pressure behind each project is becoming a huge step towards a better world. The only issue towards all the new advancements is how people could potentially be replaced by the future technology being created, especially when it comes to jobs, e.i drivers, retail workers, etc.
As amazing as all the innovative projects are there is the potential that the technology can take over from the workers already in place. There is also the worry of people relying on the new technology to much, like facial recognition on phones and in China you can now pay for items using facial recognition. Also in home life, the relentless push for gadget connectivity in homes can have a few side affects, like relying on the gadgets more than than human sense or knowledge. Given this, the innovation behind the advancement of technology has become huge, giving the developers the chance to great their ideas.
In the business world, innovation works for all parts of the company, itbuilds up each of their departments and pushes their products. Like in an IT department, the innovation to improve the department as a whole pushes the entire company forward. Pushing the innovation behind ideas can help a business reach new areas in revenue opportunities, creating time saving or money saving efficiency, productivity performance programs. The innovation behind a businesses can be used for different ways:
Business model innovation
The development of their new and unique concepts supporting there financial stability and business aim.
Industry model innovation
When a business decides to move into a new area of industry or the creation of a new industry.
Revenue model innovation
The improvements or changes to a businesses revenue generating framework.
Although using innovation to create new industries or products for a business it can be risky, a company should always consider the risks before they push forward with their new ideas.The costs of creating a new industry or product can be major, even if the idea seems likely to succeed. The downfall can effect employees, partners and even customers. Before any innovative ideas are put into play, the company should always weigh the risks compared to the benefits.
The innovation behind development in general counts towards any idea or project, not only for technology or in businesses. For global development, it is considered to increase to $1 trillion, this could advance all innovated developments in each field of work across the board. Even private investors plan to add the budget, which can create game changing aspects. This will add to the innovation in technology, allowing for the exploration for new skills and ideas to be created. In today working world, the younger generation isn’t looking to join large financial companies but to build their own enterprises, creating a financial world of social entrepreneurs. Some of the best innovated ideas are being created by new social entrepreneurs.
As a world, we are globally entering the age of the social entrepreneur. Recently the Global innovation fund has been created, a partnership between the Swedish, U.K, U.S and Australian Governments and the Omidyar Network. This a non profit organisation, with a fund of £125 million. They invest in social innovations that try to improve lives, that being people in poverty or building in social developments.
The innovation behind the new worlds projects is highly impressive, for companies and over the entire globe, new innovated ideas and projects are becoming more and more important. For non profit organisations to start forming to fund those who need it to create brilliant new ideas. As a personal comment I look forward to what will come next and if these organisations are successful and the impact that follows. What is certain is that the new approaches are required to enforce the potential of new innovated ideas.