Innovation: "Venturesome Consumers" get the benefits
Most of the benefits of innovation go to entrepreneurial consumers. An in-depth article on "Venturesome Consumption", by Amar Bhidé, is essential reading for anyone researching the creation of value by exploiting new ideas.
Print
Innovation is defined as many things. The best encompass both the idea and its exploitation. For example: "Innovation is the successful exploitation of new ideas" (source, UK Government web site).
The organizers of the recent Technology, Innovation and Growth Forum in London, England, kindly asked me to join a panel discussion on ‘Venturesome Consumption'. This took its title from a July 2006 paper by Amar Bhidé "Venturesome Consumption, Innovation and Globalization".
Professor Bhidé argues that "the willingness of firms and individuals to acquire and use new products and technologies is as important as... the development of such products and technologies". Hence the need for a ‘venturesome consumer' if a new idea is going to succeed.
He also explores the question of who most benefits from an innovation - the originator of the idea or its consumer, concluding that: "when users of innovations are sufficiently entrepreneurial, they secure most of the benefits, regardless of where the upstream producers might be located." Looking specifically at IT innovation, he also considers the extent to which the level of risk-aversion in IT staff can impact the innovative consumption and exploitation of technology.
As I've written elsewhere, corporate strategies for IT are increasingly focusing on the exploitation of technology rather than its production, deployment and operation. Strategically, "venturesome consumption" of technology, where most of the value is created - rather than venturesome production - is just getting into its stride. If you're in IT, make sure your leading it and not holding it back.
What is Tech Briefcase?
TechBriefcase is a new, free service where IT Professionals can Search, Store and Share IT white papers and content like this. Learn more
Bookmark content
Speed up your research efforts with content across the web.
Search and Store
Find the white papers you need. Create folders for any topic.
View Anywhere
Open your briefcase on your iPhone, tablet or desktop. Share with colleagues.
Most Discussed Posts
Cloud computing has emerged as one of the most significant game changers to hit the technology landscape in the past 20 years. With this massive expansion of the cloud, the perception of the IT organization is shifting from a utility player to a change agent. This eBook breaks down five ways progressive organizations are using cloud-based IT Management solutions to help drive innovation and become more strategic, including: adding visibility and analytics, speeding up time-to-value, lowering costs, improving prioritization, and providing a blueprint for future cloud deployments.
Read the white paper to see how IBM helped Citigroup deliver new services and enhancements to their 200 million customers faster.
There are 3 ways to modernize legacy applications: rewrite completely, acquire packaged solutions or migrate existing code. This paper explains why it's best to migrate and how IBM® Rational® software can help.
Accommodating specific lines of business can result in a hybrid ecosystem of applications and servers. The resulting complexity of this architecture makes for an environment that is costly to maintain and difficult to change when addressing new challenges.
This whitepaper will help you to define a mobile device passcode policy. Security managers must attempt to reconcile two opposing goals. They must: 1) create a passcode policy that is strong enough to protect the device if it is lost or stolen, while: 2) not annoying users with needless length or complexity.
This whitepaper, authored by The Radicati Group, looks at the key reasons organizations should consider moving to a cloud-based archiving solution. Email archiving solutions enable organizations to store, monitor, and collect electronic data exchanged by their users to comply with internal policies and regulations.
ATERNITY will showcase a 30-minute demo on how Fortune 500 companies are leveraging its award-winning FPI Platform to deliver a user-centric approach to Proactive IT Management.
For businesses to move forward and tap into the ever-expanding universe of Internet users and network-enabled devices, it's critical to learn how to make the transition to IPv6. Learn the critical steps your organization must take to make a seamless transition-and keep your business world connected.
Learn how IT teams can protect against spear phishing tactics. Harry Sverdlove, chief technology officer of Bit9 offers a frank discussion about spear phishing - the most common technique used in today's advanced attacks.
Learn how to build a solid business case for your migration to Red Hat Enterprise Linux so you can run leaner, innovate faster, be more flexible and own the New Now.
Social media isn't about you; it's about everything around you. As you consider how your customers want to communicate with you, social media is something that can't be ignored. But what should your strategy be? Is social media "just another channel?" What kind of a plan makes sense for your contact center and for your customers? Join our experts as they share their insight and research results.
Hardware tokens were a popular method of strong authentication in past years but the cumbersome provisioning and distribution tasks, high support requirements and replacement costs have limited their growth. The additional log-in steps that hardware tokens require and the resulting user frustrations have limited adoption and make them impractical for larger scale partner and customer applications.
Sponsored Links
