We posit that when a subject firm has greater accounting comparability with industry peer firms it facilitates that firm’s learning from peer firm investments leading to better investments by the subject firm. Therefore, we expect firms with greater accounting comparability with industry peers to generate more and higher quality innovations, which are key determinants of corporate innovative efficiency.
In an explosive combination of creativity, cutting-edge technology, and brilliant marketing, Pokemon GO has become a global craze in less than a week. The new portable game from Nintendo uses a technology called augmented reality, which allows a player to interact with the real world instead of just their screen. Game play involves discovering and interactive far away from the basement - in parks, museums, airports, and public squares. The software interacts with actual, physical things to take game playing to a completely different level.
At nearly every major technology event for the past five years we’ve been given at least one “wow” moment — when one of the big players would unveil some sort of product or service that no one had ever seen before.
Paradoxically, Virtual Reality (VR) technologies are still lagging behind the visions that people have for their use. However, VR has already demonstrated its capacity to change the ways we design, make decisions about, and produce built environments.
Twice in the past month, I have come across articles about Fortune 100 companies losing a massive amount of money, time and effort because a new “innovation” did not turn out as planned. To avoid adding insult to injury I’ll avoid spilling on which companies these are; suffice to say they are virtually universally known in business circles.
It is no overstatement to say that, over the past couple of years, Web 2.0, sometimes called the “second .com boom” has changed the world. Major innovations by tech giants like Google, Facebook, Netflix, and Twitter have pushed what was hitherto thought impossible squarely into the realm of reality.
For the past 20 or 30 years, innovation, especially in the digital space, has been fairly straightforward. We could rely on technology to improve at a foreseeable pace and that allowed us to predict, with a high degree of certainty, what would be possible in the years to come.
The European Commission today releases the 2016 edition of its Innovation Scoreboard, which looks an awful lot like the 2015 version: happy green colors to the north and west contrasted against underperforming yellows and oranges to the south and east. This has been the map of European prosperity for at least the past century and, unfortunately, it doesn't look like the trends across the continent will do anything to redress the balance.
Sharing the road with vehicles is a constant threat to cyclists. Everyone has a story of a motorist (knowingly or unknowingly) running them off the road. The helmet helps alleviate that worry by having small LED lights built into the brim that let you know when a car is in your blind spot thanks to the assistance of cameras built into the helmet’s rear.
They are leading innovation by making employees happy.
For companies in financial services, volatility is no longer confined to the markets. Legacy investment firms are facing ongoing disruption. There’s competition from passively managed funds and “roboadvisors” attractive to many millennials, and the rise of fintech start-ups and cryptocurrencies and other alternative payment technologies are posing a threat to the biggest players.
Andrew Martin left the fast-paced business world in order to live a more simple and sustainable life in balance with nature. He and his wife Beth bought five acres in Bay of Plenty, a region on the northern coast of New Zealand’s North Island, and began growing a permaculture farm. In just three years it has turned into a lush oasis featuring a vegetable garden, fruit trees, a pond and wildlife habitats. His story was recently featured as the first segment of the Living the Change documentary film series by Happen Films.
Innovation is at the core of many of the Office of Energy Efficiency and Renewable Energy's (EERE’s) strategic investments. But getting new clean energy ideas into the marketplace can be a daunting task. Investors are hesitant to finance projects without market buy-in, the cost of resources needed over longer development cycles can exceed available capital, and the market has little incentive to adopt disruptive innovations.
Some people require a little more imagination from their video games than Pokémon Go. There is an enormous online community that is equally as enthusiastic about the worlds they are creating with their imagination in a game called Roblox.
Roblox is the largest user-generated online gaming platform with over 15 million games created by users. The simple concept of going somewhere where you can imagine with your friends has captured the hearts and minds of gamers across the globe.
Big companies can too easily become victims of what I call “innovation tourism”: They partner with startups and VCs in an effort to innovate, but they wind up merely sampling new technologies and practices and failing to drive innovation and change throughout their organizations.
By the mid-1980’s, the American semiconductor industry seemed like it was doomed. Although US firms had pioneered and dominated the technology for decades, they were now getting pummeled by cheaper Japanese imports. Much like cars and electronics, microchips seemed destined to become another symbol of American decline.
I was invited some time ago to speak at large banking conference about how machines are going kill bank jobs. I said I couldn’t do it. Not because I don’t think it can happen, but I prefer talking about the opportunities, which are huge, if we choose to create them. I suggest that the banks hold the keys to a future prospering economy.
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