Category: Strategy
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Why: We want to convince you about the difference between being inventive and innovative so that your business lasts a long time.
To merge technologies, we need not only engineering development, but also business incentive.
Reading material: “The new industrial revolution” by Peter Marsh
Table of Contents
In Short
The problem is that technology changes quickly, but we need them to solve the problems we have at hand. What else? Well, technology brings issues, too, ones that we don’t usually see at the time of implementation.
Today’s world has been changed by technology that was not there a month before. The question is, how are we going to keep up with it and outperform our competitors.
Here are something that might help your E-Commerce to be innovative even for tomorrow’s market.
1. Keep Eyes On Revolutions
By doing so, you will be able to look out for what happened and what comes next. Here are the rough timeline of our industrial revolutions.
- 1st: 1780 – 1850 Production Revolution
- 2nd: 1850 – 1900 Transport Revolution
- 3rd: 1870 -1930 Scientific Revolution
- 4th: 1950 – 2005 Computer Revolution
- 5th: 2005 – 2055 Connectivity Revolution <- Merging of technologies
So keep eye on the improvement of production, transportation, and computation with connectivity.
2. Revolutions by Tech
What does technology mean?
> Tekhne + logos = “Skill-study”
Where does technology come from?
> human’s curiosity -> tinkering -> new ideas/ways of doing things -> new rules/recipes -> profits
Technology in the purest form: Here is the recipe, so DO THIS, and you will GET THAT!
A short note on invention and innovation.
Invention = new rules or ideas about what to produce and how to do it.
Innovation = where these ideas find practical use through being applied or commercialized by entrepreneurs.
3. Keep Innovation Alive
What kills innovation? Well, ask what kills entrepreneurs, ideas, new recipes to do things.
The short answer can be an “Incentive.” Without the outlook of profit, entrepreneurs will not invest their resources in the idea, and it will likely not take place in reality.
Incentives can be patent, copyright, a right to capitalize on the idea for some time without being copied. Because ideas are nonrival products, meaning anyone can access and apply.
But how to build a never-ending incentive to make sure that our business and the market itself stay innovative? You tell me! Or let’s find out about this in the next post ^^
Conclusion
By knowing the revolutions in our history, you will look at each technology opportunity to understand its background. This helps with the discussion on its usefulness and how it might be capitalized in tomorrow’s market.
To keep your e-commerce business innovative is to maintain incentives for your team and customers clear. Make a slight improvement every day, whether in the digitalization of your shopfront or fulfillment system, until your sales funnel optimization.
Set the return of each improvement in the team now! Your business depends on innovation every day!