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Say “Hello” to Innovation Capital! Arthur Harkins, Ph.D. John Moravec, Ph.D. Innovation Studies University of Minnesota

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Welcome What’s Innovation Capital? An Innovation Economy? An Innovation Society?

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Innovation Capital is the capacity of an entity to produce valuable change.

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Innovation Economy is a system of positive metrics produced by valuable change.

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Innovation Society is a system of human relationships and choices supported by valuable change and positive metrics.

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Continuous Innovation Society is Produced by the Non-Stop Application of Knowledge

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An Innovation Economy Driven by Innovation Capital… <ul><li>Helps people live successfully in the middle of nowhere when the middle of nowhere no longer exists </li></ul><ul><li>Helps people live in circumstances that can be defined but not understood </li></ul>

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An Innovation Economy Moves People… <ul><li>-From continuous improvement to creative destruction </li></ul><ul><li>-From great plans to contingencies </li></ul><ul><li>-From big talk to quiet resiliency </li></ul><ul><li>-From blind faith to bold vision </li></ul><ul><li>-From passive fear to strategic defiance </li></ul><ul><li>-From Mother Nature to Uncle Heisenberg </li></ul>

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Change Perspective <ul><li> </li></ul><ul><li>-3 million years Wave #0 (Hunter-Gatherer) </li></ul><ul><li>-13 thousand years Wave #1 (Agricultural) </li></ul><ul><li>-200 years Wave #2 (Industrial) </li></ul><ul><li>-50 years Wave #3 (Information) </li></ul><ul><li>Now to +20 Wave #4 (KN & Innovation) </li></ul><ul><li>+20 to +50 Wave #5 (AI-Driven Imagination) </li></ul>

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Innovation Economy <ul><li>Definition : “The continuous creation of new ideas and their application as value-adding marketable goods and services.” </li></ul><ul><ul><li>Management’s challenge for the ‘new millennium' </li></ul></ul><ul><ul><li>Process for converting the raw resources of imagination into tangible outcomes </li></ul></ul><ul><ul><li>Critical to organizational transformation and resource expansion </li></ul></ul>

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Innovation Economy <ul><ul><li>Requires strategic investments to develop/mine individual potentials </li></ul></ul><ul><ul><li>Makes learning continuous for everyone, using cutting-edge technologies to replace memorization </li></ul></ul><ul><ul><li>Requires shift to personalized religion and public secularism </li></ul></ul><ul><ul><li>Requires accountability at the top as well as the middle and bottom </li></ul></ul>

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What is Innovation About? <ul><ul><li>Breaking the rules </li></ul></ul><ul><ul><li>Asking new questions </li></ul></ul><ul><ul><li>Settling for conditional answers </li></ul></ul><ul><ul><li>Balancing ‘the real world’ with simulations </li></ul></ul><ul><ul><li>Changing our minds while not losing them </li></ul></ul><ul><ul><li>Collapsing time and distance </li></ul></ul><ul><ul><li>Making everyone a functional expert in everything </li></ul></ul>

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What is Innovation About? <ul><ul><li>SELF-MANAGEMENT </li></ul></ul><ul><ul><li>SPEAKING UP </li></ul></ul><ul><ul><li>RESPECTING THE ENEMY </li></ul></ul><ul><ul><li>TAKING RESPONSIBILITY </li></ul></ul><ul><ul><li>RETREATING FORWARD </li></ul></ul><ul><ul><li>DISTINGUISHING CONFIDENCE FROM NARCISSISM </li></ul></ul><ul><ul><li>LISTENING TO KEILLOR RAG ON US EVERY WEEK & GETTING THOUGHTFUL ABOUT IT </li></ul></ul>

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What is the Innovation Society About? <ul><ul><li>LEADERSHIP AT HOME </li></ul></ul><ul><ul><li>LEADERSHIP AT WORK </li></ul></ul><ul><ul><li>LEADERSHIP AT SCHOOL </li></ul></ul><ul><ul><li>LEADERSHIP ON THE STREETS </li></ul></ul><ul><ul><li>LEADERSHIP IN THE AUTOMATION OF BUREAUCRACY </li></ul></ul>

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How Does Capital Function in the Innovation Society? <ul><ul><li>GROWING HUMAN CAPITAL </li></ul></ul><ul><ul><li>GROWING PERSONAL CAPITAL </li></ul></ul><ul><ul><li>GROWING VISION CAPITAL </li></ul></ul><ul><ul><li>GROWING COMPETENCE CAPITAL </li></ul></ul><ul><ul><li>GROWING CIVIC CAPITAL </li></ul></ul><ul><ul><li>GROWING INNOVATION CAPITAL </li></ul></ul><ul><ul><li>...IN ORDER TO GROW FISCAL CAPITAL </li></ul></ul>

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Let’s Take the Idea to Another Level

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The Innovation Society is Economically Alchemic <ul><li>It makes a form of capital out of anything </li></ul><ul><li>It turns waste into profit </li></ul><ul><li>It turns losers into winners </li></ul><ul><li>It moves 100% of the workforce into innovative living, learning & working by 2010 </li></ul><ul><li>It co-opts bureaucracy and politics by focusing on human/personal capital development </li></ul>

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The Innovation Society is Abundant <ul><li>In solutions </li></ul><ul><li>In alternatives </li></ul><ul><li>In choices </li></ul><ul><li>In outcomes </li></ul><ul><li>In efficiency </li></ul><ul><li>… So that it can give things away that now cost beyond almost everyone’s means </li></ul>

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The Innovation Society is Generous <ul><li>In care for children </li></ul><ul><li>In care for the environment </li></ul><ul><li>In care for freedom </li></ul><ul><li>In care for the poor and </li></ul><ul><li>In care for the despised </li></ul><ul><li>In care for the cynical and self-hating </li></ul>

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The Innovation Society is Socially Way Cool (It NEVER employs the phrase, ‘Those People’)

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The Innovation Society Requires an Innovation Economy

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The Innovation Economy as a Foundation <ul><li>Rapid knowledge refresh rates create: </li></ul><ul><li>-Flow of innovation and ideas from all sources </li></ul><ul><li>-Fast individual and collective cultures </li></ul><ul><li>-Institutional capability to incorporate ubiquitous variety generated by the entire population </li></ul>

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How the Innovation Economy Creates Human Capital <ul><li>-Learning becomes real time with personal and social changes </li></ul><ul><li>-Learning moves from information downloading to knowledge creation </li></ul><ul><li>-Knowledge generation is linked to innovation in all ways at all times </li></ul><ul><li>-Software supports weaker-performing persons and groups at competency levels </li></ul>

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How Can You Help?

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Innovation through Leadership <ul><li>Promote WAT (Way Ahead of Time) thinking in schools and higher education </li></ul><ul><li>Nurture a National Innovation Corps to support an Innovation Economy </li></ul><ul><li>Support the MN Chapter of the National Innovation Corps with indefinite ‘enlistments’ </li></ul>

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NEVER Retire – Set an Example of Continuous Contribution!

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Innovation Through YOUR Leadership <ul><li>-Support leadership skills development in schools and colleges </li></ul><ul><li>-Support visionaries & risk-takers everywhere </li></ul><ul><li>-Cascade management into everyone’s work </li></ul><ul><li>-Think between many boxes </li></ul><ul><li>-Expect more from the top </li></ul><ul><li>-Get Garrison Keillor’s help – right now he’s killing us! </li></ul>

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Innovation Through Structures You Help to Change <ul><li>Learning Organizations </li></ul><ul><ul><ul><li>Wideband/Wide Area Networks </li></ul></ul></ul><ul><li>Continuous Flow of Innovations </li></ul><ul><ul><ul><li>Knowledge Creators/Innovators/Imagineers </li></ul></ul></ul><ul><li>Personal Growth of Employees </li></ul><ul><ul><ul><li>Work over Jobs; Ronin over Employees </li></ul></ul></ul><ul><li>Welcome the Innovation Society </li></ul><ul><li>Start a War on ‘Millstone’ Legacies </li></ul>

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Thank you! Questions?