EID100 Week 6: INNOVATION MIND MAP

EID100 Week 6: INNOVATION MIND MAP

1. Levels of Construct

   • isolation
     • Example: Drivers on a highway, free lancers
   • Pure Meshwork
     • No one is incharge but everyone is connected to each other through another person
       • Example: Mutuals on Facebook
   • Pure Hierarchy
     • One person in charge
   • Hierarchy and Meshwork
     • Multiple Hierarchies can become interconnected and form a meshwork with multiple people in charge

2. Components that ignite Innovation

   • Watch TEDx Talk by Chris Anderson:  https://www.youtube.com/watch?v=X6Zo53M0lcY 
   • Desire
     • fuelled by social status, global recognition
       • the need to improve oneself and to take what others have already accomplished and make it better
   • Light
     • Shines light on the best person and makes that 'best' individual visible to others
   • Crowd
     • *crowd accelerated innovation*
       • watching others do well and have others watch you makes you want to 'step up your game'
         • System is Refuelling

3. Types of Innovation

   • Incremental
     • Taking something that is tried and tested and improving it, a bit, by adding to it
       • Examples: Apple iPhone 5, 5S, 5C
   • Disruptive
     • Changing De Facto standard- redefines the industry by creating a new market through the introduction of a new product/service
       • Examples: Apple MacBooks, Intel Processers

4. Innovation is aided by

   • Accelerator
     • funding a new startup business via loans, government grants and investors
   • Incubators
     • Helps startup business by providing resources, educating them about the workforce

Images and files in the map