Man­ag­ing In­no­va­tion

The Economic Times - - Breaking Ideas -

There are three trends, and each in and of them­selves is sig­nif­i­cant. One is what we call the shar­ing econ­omy — it’s re­ally more the on-de­mand econ­omy. The sec­ond piece is the In­ter­net of Things — all kinds of de­vices, bil­lions of de­vices get­ting net­worked. And the third is big data and an­a­lyt­ics — the abil­ity to un­der­stand and ma­nip­u­late trends from all those de­vices.

What those three things to­gether mean is that all of the world, po­ten­tially, is net­worked. It’s not just that you go some­where to a com­puter or you go to your phone to get ac­cess to in­for­ma­tion. It’s that po­ten­tially ev­ery­thing is a data gen­er­a­tor, and that dat­a­can­bein­te­grated,an­a­lysed, pro­cessed and ma­nip­u­lated.

What that means is the kinds of trends and the kinds of de­vel­op­ments that we saw on­line are now hap­pen­ing off­line.… The the­ory of dis­rup­tive in­no­va­tion is a se­ri­ous aca­demic the­ory, but far too of­ten, peo­ple in busi­ness and en­trepreneur­ship and in the me­dia use the word ‘dis­rup­tion’ as just kind of a syn­onym for new tech­nol­ogy.

The re­al­ity is, it’s not that you have one mar­ket, and sud­denly a bunch of new com­pa­nies come in and re­place that mar­ket. Of­ten, the new mar­kets are dif­fer­ent. We tend to as­sume that there is one set of rules for the real world, and there’s one set of rules for the dig­i­tal world, and that’s a mis­take be­cause, in­creas­ingly, there is just the world.

From “How to Reg­u­late In­no­va­tion — With­out Killing It”

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