Define Technology:
theoretical and practical knowledge, skills and artifacts that can be used to develop products and services + production/ delivery systems
Technology can be embodied in
people,
materials, cognitive and
physical processes,
plant, equipment and
tools
Ocean Spray’s stock price ____ because of guy holding cranberry juice on a ____.
rose; skateboard
What is a leading driver
of individual, firm, and
country performance?
Innovation
Drivers of innovation and pace of
innovation is undergoing
unprecedented change
because of ___.
Our global
interconnectivity
What are negative externalities?
Costs that are borne by individuals
other than those responsible
for creating them.
This midterm is worth ____%.
20
Innovation is also about____
overcoming failure
Video of baby with hearing aids:
Innovation lead to baby hearing for the first time and laughing.
Video of a guy dancing alone in the field:
A movement’s momentum is sparked not by the number of leaders, but by the first few followers who dare to join in, setting a public example.
4 things that have been innovated:
1) Language- always evolving 2- management practices ex. child laboris gone 3) Processes 4) Tools ex. sticks to hunt
Define Technical Innovation:
The act of introducing a new device, method, or material for application
to commercial or practical objectives (solves a problem)
Define successful technical innovation:
technological innovation that has
surplus value over the original investment
Innovation is often the result of:
being empathetic
Define Empathy:
The ability to recognize others’ struggles and design solutions that help them do
better
Spanx Story
Sara Blakely (FSU Grad), no funding, no fashion background, first woman billionaire
Harvard Computers Story
women worked for less than men, calculating numbers, cheap, less mistakes needed for war efforts
The Ocean CleanUP
Boyan Slat- 16 years old- 2 boats drag a net to clean up plastic on surface of ocean
What has
been the
impact of
this innovation?
Leisure, longevity, improvements
Define leisure:
reducing costs through economies of scale
Define economies of scale:
more you produce of it, the cheaper it gets to produce it
____ decreases the larger the economy of scale for cruise ship boats
Pollution
Define longevity:
Technology improvements to
safety/medicine
What is going on with sports improvements?
Human genetics has likely not changed, but
technological innovations have occurred:
- training, gear, surfaces, nutrition, etc
