Book review: Econovation
Posted by Fred Zimny
Having noticed my passionate blogging about innovation, Stever Faktor offered me to ship Econovation: The Red, White, and Blue Pill for Arousing Innovation. And yes, I promised him to write my thoughts and impressions.
Most importantly, Econovation envisions a very different future.
It’s one ruled by “producerism”, not consumerism. It’s a future in which real innovators must do more than slide a greasy finger over the screen of an iPad. Econovation uncovers opportunities in unexpected places.
You’ll learn how to:
- Capitalize on a market that will go from making nothing to making everything…for China.
- Use psychological pricing and some crafty tricks from Google to reduce reliance on tapped-out consumers
- Sell to consumers whose new identities will be based on what they create, not what they buy, click or super-size
- Seduce a desperate government to finance your business, then feed you pancakes in the morning
- Motivate tomorrow’s employee with social currency instead of the green, depreciating kind
- Upgrade your business and your kids with a little help from Mormons and kindergartners with hacksaws
Econovation is a fresh perspective on a future we’ve taken for granted. It empowers readers to think big, dream big, and conquer economic conditions that will paralyze others. With a hefty dose of data, humor, and actionable ideas, Econovation offers insight and amusement in one, convenient place – a rare treat for a business book.
From my perspective
In the 9 chapters that make this book special, the author explores the many ways that the business community, professionals, entrepreneurs and persons have to respond to changes in our global economy and the according changes in associated environments.
He looks at economic trends and industry trends, and analyze how entrepreneurs as well as established firms are able to gain benefits of the global transformation. The author outlines his favored approach, titled the 4Cs of Innovation. His 4C’s are:
- All the forces affecting your business-economic, social, technological and industry trends, competition and so on
- Insight-driven ideas and opportunities that fuel innovation and a systematic way to create, develop and evaluatie those ides
- Adapting, communicating and embedding innovation in ways consistent with a company’s character
- The technologies, skills, processes and discipline needed to make innovation happen
The focus on the first three chapters in Econovation is on the macroeconomic part of Context. The rest of Econovation explores the second C, Creativity and the specific opportunities that will thrive in light of economic conditions.
The content is structured in these chapters:
Its chapter titles are:
- What is econovation
- Indulgence in an age of constraint
- Tawdry tales of a service economy
- The next decade
- Self actualization
- Build a capital magnet
- Make makers
- Liberate Micropreneurs
- Built an “Incentive Nation”
- Unfinished business
4,0 stars on a scale 0-5.
This is again a decade of change, disruption and uncertainty. Our challenge is to create a challenging business and professional environment impacted by global structural changes, economic uncertainty and digital innovations. It is my firm belief that for those who place the right assessments and embrace change, this will be an exciting era.
We perform in a world according to Joseph Schumpeter. Remember that he highlighted the cycles of creative destruction animating capitalist economy. The Austrian economist notably pointed to two renewal factors: technological innovation and the role of entrepreneurs. Product creation, new production processes, new organizations of production, new markets or new source of raw material or energy are often fine examples of such technological innovation. And the entrepreneur is keen on innovation, striving to meet the challenge with his vision, passion aiming for professional and personal benefits.
This book is an highly accessible description of the US- economic problems and opportunities. It offers a concise overview of causes and underlying trends. It identifies opportunitiesm, on the input and output side. In this way it offers highly instructive recommendations and lessons for every (not limited to the US) business leader, entrepreneur and professional. Lots of data presented with insight and humor.
Interested in spotted opportunitiess?
- Shared Infrastructure
- Remote health care
- Kill cash
- New pricing and incentive modekls
This book (some will claim it to be a true manifesto) is a must read for anyone who is interested in connecting to the changing context in our business world. It is then up to you how that knowledge and information will be applied by you to achieve your business, professional and personal goals in the next decade.
- How Open Innovation Can Empower ‘Creatives’ – Henry Chesbrough – Open Innovation – Forbes (serve4impact.com)
- Econovation: The Red, White, and Blue Pill For Arousing Innovation is An Empowering New Book With a Humorous Take on America’s Economic Future. (piercemattiepublicrelations.com)
- Practical ideas for innovation (serve4impact.com)
- Strategy + Business’ Best Business Books 2011: s+b’s Top Shelf (serve4impact.com)
About Fred ZimnyLeadership in service design, service management, marketing and innovation. Contact me via http://nl.linkedin.com/in/fredzimny
Posted on 2012/01/11, in Because i like to share again and again, Front Office and Customer Service Operations, Knowledge management, Performance management, Recovery and the way out of the crisis, recession and depression and tagged Arthur Andersen, Because i like to share again and again, Blue Pill, Boise Cascade, Crowdsourcing, Front Office and Customer Service Operations, Knowledge management, Performance management, innovation fund, Joseph Schumpeter, Kogan Page, Recovery and the way out of the crisis, recession and depression, Steve, United States, Vision, visionaries, vision things, trends. Bookmark the permalink. Comments Off.
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