- Finding #2: Innovation is Growing Exponentially
Innovation has not slowed down or even stabilized. In fact it has grown in massive proportion, due to many factors. The proliferation of innovation via the internet and new information age technologies has affected the very nature of our lives, from cell phones to bio-informatics. As Strategic Alliances have enabled new ways to cross intellectual, political, and organizational boundaries, ideas and technologies have blossomed. Since 1990, there has been at least a ten fold increase in alliances.
- The more innovation, the more change, the more need to create new innovations to be competitive.
- Managing exponential growth in innovation requires a whole new set of principles, policies, programs, processes, and practices than what worked in a slower, more stable world of the past.
- These Paradigm Shifts are of such a magnitude that one can safely say:
“The Future Isn’t What It Used to Be!”
- Ray Kurzweil’s insights and analysis of the magnitude of the exponential growth is noteworthy. (It’s a fascinating treatise and well worth exploring his web site)