ADMS 1010 Lecture Notes - Lecture 11: Knowledge Economy, Social Entrepreneurship, Google
11 Dec 2017
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Document Summary
Entrepreneurial personality vs. systematic practice of innovation. Creating new wealth-producing resources, or, endowing existing resources w/ enhanced potential for creating wealth. Not age or size, but a certain type of activity -- innovation is at the heart of that activity. Solves a problem in process or system. Outside a company (in the social/intellectual environment) Demographics = quantifiable statistics of a given population (age distribution, education, occupations, geographic location, etc) Glass half full vs. glass half empty. Does not alter facts, but changes their meaning. Advances in scientific, technical, or social knowledge. Analysis of the sources of new opportunities. When all is said and done, what innovation requires is hard, focused, purposeful work. If diligence, persistence, and commitment are lacking, talent, ingenuity, and konwledge are of no avail. The one sure source of lasting competitive advantage is knowledge. The knowledge-creating" company, whose sole business is continuous innovation. Hard (quantifiable) data, codified procedures, universal principles.
