Combining Innovation & Technology for Real Change

Diego Garcia
Mind Map by Diego Garcia, updated more than 1 year ago
Diego Garcia
Created by Diego Garcia about 1 year ago
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Mind Map on Combining Innovation & Technology for Real Change, created by Diego Garcia on 08/29/2019.

Resource summary

Combining Innovation & Technology for Real Change
1 Innovation
1.1 Happens when the underlying processes are examined and transformative new ways of solving a problem or creating a new service are identified
1.1.1 Make an emphasis on entrepreneurs
1.1.1.1 Their ability to create a new good or service, a new production technique, or open a completely new market.
1.1.1.2 Their hability to change and modify our current process for delivering goods and services or by creating entirely new services.
1.2 Economic innovation
1.2.1 Term in which technology and innovation replace older means of production/services
1.2.2 Its an obligation to avoid becoming obsolete
2 What is next?
2.1 Innovation and technology together stimulates economic growth by creating new inventions never before imagined
2.2 It could make older services, goods, and techniques obsolete
2.3 hundreds of companies are now on the scene and impacting how we operate our businesses.
2.4 It is clear that innovation and technology coupled together are a powerful market disrupte
2.5 to avoid becoming obsolete, it comes down to a willingness to change, and a commitment to the investment of time and money to embrace creative disruption
3 How to Avoid Becoming Obsolete?
3.1 Categories
3.1.1 4. Emerging Technology
3.1.1.1 Creation of Technology that creates insight from unstructured data will transform both the business and practice of law
3.1.2 3. Law Firm Innovation
3.1.2.1 Creation of focus of innovation
3.1.2.2 Diferenciate in the marketplace
3.1.3 2. Change in Competition
3.1.4 1. Client Sophistication
3.2 promote that each organization innovates
3.2.1 Identifiy new competitors and new strategies of existing competitors, and provides insights on how technology modifies firms’ relationships with clients
3.2.2 Create groups of intrapreneurs that offer services or create new offerings
4 Why Are We a Legacy Industry That Can Transform?
4.1 The economic growth of our industry depends on professionals with substantial domain expertise to help lead the charge for innovation
4.2 Because there is an early prize for those able to successfully innovate to the point that traditional companies must succumb to the pressure of new inventions.
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