The Future Of Innovation Is Common Understanding Of The Global Economic Processes

Mr Janis Stabulnieks

The future of innovation is to make the shortest and most secure way to the global peace and welfare for every human being. But to reach it, first of all, we have to understand the meaning of the term “innovation” in the correct way. In my opinion the simplest explanation of innovation could be the following: the endless process which guides us to a non-stop development of new technologies, new relations between people, new culture and even to a new way of thinking how to make our life better. We should understand the term “innovation” in very broad sense - like education, science, culture, etc. The history of the mankind shows that innovation took place in our life since very beginning of the era of civilization when, of course, nobody knew and used this wording. Now, everybody likes to use this word to express his/her competence in economic development of society and/or certain business. However, many of them are using a word innovation in the most narrow meaning – new product on the market. In the worst case the word “innovation” (making money out of knowledge) is mixed up with the word “invention” or “science” (making knowledge out of money). Hence, such very strange and to my mind senseless combinations of words as “patenting innovation” (you can patent an idea, research results, etc.; innovation comes later), “implementation of innovation” (implementation is a part of innovation process) or even “innovative science” (science is creation of new knowledge and nothing more) have appeared and widely used. Therefore, last year I have asked to myself a simple question: is innovation a fashion word or real term which describes the development of highly organized and targeted on the progress society? And the answer is coming out of the question. Innovation should become a reality! We should understand the innovation identically regardless of one is a politician or decision maker, professor or teacher, business advisor or company owner, banker, venture capitalist or business angel, schoolboy/girl or student. And as consequence, we will be able to manage innovation in the most effective way. This becomes more and more important if we are taking into account the global changes in economy, system of finances, technological development and, last but not the least, climate. We are on the eve of new technological revolution and innovation will be there the topic number one. Innovation is driving force with unlimited power for the evolution. Only combination of all components related to innovation – knowledge, creativity, intuition, communication, non-traditional way of thinking and ability to find new solutions for old problems would bring us to the welfare and harmonized with nature life on the planet under the name “Earth”.

Article © 2009 Mr Janis Stabulnieks. All rights reserved.

about the author...

Mr Janis Stabulnieks

Mr Janis Stabulnieks

affiliation:   Latvian Technological Center

position:  Managing Director

country:  Latvia

area of interest:  innovation management, acceleration of high-tech business

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