You’ll learn
- Why old business models collapse
- How local focus boost economies
- What sets invention apart from innovation
- Why rethinking is the key to success
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first KEY POINT
The big technology companies, primarily based in Silicon Valley, have long been the industry leaders on the worldwide stage. We look toward them for new ideas, new products, and ways in which we can improve our lives and businesses for the better. It’s easy to understand why when you consider just how quickly technology develops. And with huge investment pouring in, it seems like there’s nothing we can’t do.Of course, to use the most sophisticated technology means being able to afford it in the first place. You could argue that’s partly why large-scale businesses continue to get richer and smaller companies struggle so much. Technology costs money.Dan Breznitz has long been an advocate for different types of innovation. He doesn’t think that we should always look toward international technology models and instead focus upon innovation we can create around us. Just because Apple is known to be the industry leader in computing, does that mean we always need to use Apple products? Just because Ford has long been known to be one of the best in the automotive industry, should we avoid any other company?
Innovation in Real Places argues that we should look toward different types of development and assess what is best for us as a whole. Companies can make their own choices and focus upon their in-house innovation rather than always following a route set by Silicon Valley. The COVID-19 pandemic swept across the world and caused havoc over the last few years, and this has led us to question whether we should focus on development on quite so much of a global stage. In some cases, it just brings about more problems and roadblocks.This summary will help you understand what innovation is and how it can be pulled back from a global reach and centered more locally and nationally. You’ll also realize that focusing solely on technology doesn’t necessarily have to be the way forward. By shifting our mindset away from the global aspect of the issue, perhaps we can empower local communities to create their own far-reaching success stories.
second KEY POINT
One of the biggest misconceptions is the difference between innovation and invention; many people assume them to be one and the same. We believe we first need to develop a brand new idea to be innovative, something nobody has ever thought of before. But, that’s not the case. Instead, innovation is about developing an existing idea, working to make something that’s already around into something better.Dan Breznitz argues that this misconception has created significant problems for businesses over the years. Rather than thinking outside of the box and looking at how their existing models can be tweaked and improved, they pour vast amounts of cash into technology and come up with brand new ideas. For many businesses, that simply runs them into the ground or ultimately stunts their growth.To understand why we can find innovation more locally than we assume, we need to understand the significant differences between innovation and invention. Of course, invention is coming up with a brand new idea. When Alexander Graham Bell invented the telephone, it was a unique idea that he hit upon and then developed. But innovation is different; it takes an existing idea and improves it.

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