Providing you with the essentials for business growth through innovation.
CAMACOL's MMFM: Powerful & Engaging
Small Business Week
Women's Forum on Excellence
Dr. Tracy Timberlake moderated with history-making entrepreneurs Kerry Raymond, Woodie Lesesne, Samantha Jacob and Isis Masoud for a unique session on how they continue to overcome barriers and conquer hazards. More video coming soon
Subscribe to IN FOCUS TV
enter name and e-mail below and click "Subscribe now"
Miami-Dade Chamber Prez shares message about Job creation
UNDERSTANDING AND LEVERAGING INNOVATION
Innovation by definition is the introduction of something new a new idea, method, or device. Using Wikipedia helps understand the word. Using experience helps to stimulate innovative ways you can build new levels of your business and personal success.
When it comes to innovation, we often immediately think of invention. That can be misleading. What is the difference between innovation and invention? Invention can refer to any product of the imagination. Innovation can refer to a change made to an existing product, idea, or field. Wikipedia’s example is “One might say that the first telephone was an invention, the first cellular telephone either an invention or an innovation, and the first smartphone an innovation."
While a novel device is often described as an innovation, in economics, management science, and other fields of practice and analysis, innovation is generally considered to be the result of a process that brings together various novel ideas in a way that they affect society. In industrial economics, innovations are created and found empirically from services to meet the growing consumer demand.
Economist Joseph Schumpeter, who contributed greatly to the study of innovation economics, argued that industries must incessantly revolutionize the economic structure from within, that is innovate with better or more effective processes and products, as well as market distribution, such as the connection from the craft shop to factory. He famously asserted that "creative destruction is the essential fact about capitalism".
In addition, entrepreneurs continuously look for better ways to satisfy their consumer base with improved quality, durability, service, and price which come to fruition in innovation with advanced technologies and organizational strategies.
Lesesne Media Group Night @ Venture cafe
The outreach team presented a forum focusing on the emerging urban tech, design and entertainment economies