In the past, the man has been first. In the future, the system must be first. - Frederick W Taylor 1911.
The reason the system must be first, is because there is more of us.
Innovation is driving the development of new systems to manage our growing population.
However innovation has been with us for a long time. Its the rate of innovation which has shifted.
Here we have two innovations. On the left we have a stone axe tool. On the right we have a computer mouse.
Both are innovations designed to fit in the palm of a hand. However the stone axe tool last was used for a few thousand years, and the mouse about three decades.
In the US alone (not counting China and India) in 2011, we saw 24 internet businesses file to publically list their companies.
In the last three months, there have been 250 books published on Amazon with the word 'innovation' in their title.
Innovation is not a new concept.
However, it is the rate of innovation which has changed.
What's driving innovation?
1. Consumer's desire for novelty. Novelty is the consumer's desire for new stuff.
Consumer novelty is irrational. One economist defined consumers as 'Spending money they don't have, to buy stuff they don't want, to impress people they don't care about.'
2. Falling unit cost of innovation. Its cheaper now to innovate as many business expenses have fallen. It doesn't cost much to innovate.
People being connected together globally by via internet and mobile has given business access to larger markets, and improved economies of scale.
Learn more. Visit http://futurebooks.com.sg/blog/life-in-2050-business-rocks-event/3922