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Innovation. It’s a popular, misunderstood and kind of squishy term that nonetheless plays a big role in today’s world. A Google search on it will earn you 1.65 billion hits.
There’s a reason for that. Economist Robert Solow won the Nobel Prize more than 30 years ago for proving, for the first time, that 80% of all growth in the economy comes from the introduction or use of new technology. So, if you are engaged in creating or putting to use a new way of doing things, you have a shot at your share of 80% of growth. If you are devoted to doing the same old things, you can hope for a share of the 20%. Which would you rather have?
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Innovation. It’s a popular, misunderstood and kind of squishy term that nonetheless plays a big role in today’s world. A Google search on it will earn you 1.65 billion hits.
There’s a reason for that. Economist Robert Solow won the Nobel Prize more than 30 years ago for proving, for the first time, that 80% of all growth in the economy comes from the introduction or use of new technology. So, if you are engaged in creating or putting to use a new way of doing things, you have a shot at your share of 80% of growth. If you are devoted to doing the same old things, you can hope for a share of the 20%. Which would you rather have?