{"id":126,"date":"2018-09-26T13:48:33","date_gmt":"2018-09-26T13:48:33","guid":{"rendered":"http:\/\/graph.co.ke\/blog\/?p=126"},"modified":"2018-10-08T12:41:29","modified_gmt":"2018-10-08T12:41:29","slug":"discussing-innovation-in-kenya-and-africa","status":"publish","type":"post","link":"https:\/\/graph.co.ke\/blog\/2018\/09\/26\/discussing-innovation-in-kenya-and-africa\/","title":{"rendered":"All About Innovation"},"content":{"rendered":"

In the modern Society\u00a0entrepreneurship\u00a0is\u00a0becoming the most used term\u00a0in shaping the society or as a way of making the world a better place and creating more value.\u00a0<\/span><\/p>\n

Here we will define an entrepreneur as a person who wants to create more\u00a0resource\u00a0value than there has been before, may it be in government, business or a Non Profit Organization and entrepreneurship as the practice\u00a0of creating value.\u00a0\u00a0<\/span><\/p>\n

Entrepreneurship is neither a science nor an art. It is a practice and the practice\u00a0that\u00a0defines every\u00a0great\u00a0entrepreneur is innovation.\u00a0<\/span><\/p>\n

Innovation is\u00a0the heart and core of entrepreneurship\u00a0and\u00a0is the tool every creative entrepreneur uses to win.\u00a0<\/span><\/p>\n

Innovation\u00a0is the lifeblood of our global economy\u00a0and a strategic priority for virtually every\u00a0organization or government\u00a0around the world.\u00a0 The power of innovative ideas to revolutionize\u00a0industries and generate wealth is evident from history:\u00a0In every case, the creative ideas of innovative entrepreneurs\u00a0produced powerful competitive advantages and tremendous\u00a0wealth for the pioneering company.\u00a0\u00a0<\/span><\/p>\n

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While we cannot underestimate the importance of innovation is humanity\u00a0advancement\u00a0it has\u00a0been seen\u00a0by many\u00a0as an abstract\u00a0art, a\u00a0geneous\u00a0or a gift only a few\u00a0creative individual have. Of\u00a0course everybody have their own gift and talents but something of great importance as innovation should not be left to nature\u00a0to decide when we can all\u00a0learn\u00a0 the science behind it and\u00a0use it\u00a0to improve lives.\u00a0<\/span><\/p>\n

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Good news is that innovation is a skill and can be learned by\u00a0anyone\u00a0who is interested, excited! Probably because you want to make meaning and add something in the society great and make the world a better place.\u00a0<\/span><\/p>\n

Let\u2019s\u00a0start making meaning by understanding innovation on its own terms and its relevance in shaping the\u00a0society.\u00a0<\/span><\/p>\n

But\u00a0what\u2019s innovation?\u00a0<\/span><\/p>\n

Innovation is\u00a0improving a product or a service and change the way it is used to create new value on its\u00a0usage. It is the act that endows resources with a new capacity to create wealth.\u00a0<\/span><\/p>\n

Innovation and invention are terms that have been interchangeably used together\u00a0many people get confused by the terms however is just a case of\u00a0Similar words Different Meaning.\u00a0<\/span><\/p>\n

Innovation\u00a0vs.\u00a0invention\u00a0<\/span><\/p>\n

These terms have been used interchangeably until most people get confused on their difference however they are very different.\u00a0<\/span><\/p>\n

In its purest sense, \u201cinvention<\/a>\u201ccan be defined as the creation of a product or introduction of a process for the first time\u00a0in the world. \u201cInnovation<\/a>,\u201d on the other hand, occurs if someone\u00a0improves on<\/i>\u00a0or\u00a0makes a significant contribution to<\/i>\u00a0an existing product, process or service.\u00a0<\/span><\/p>\n

History is filled with a lot of innovators but few\u00a0ingenious\u00a0inventors.\u00a0<\/span><\/p>\n

Innovation means combining already existing ideas to produce new sources of value while invention means coming up with new ideas.\u00a0<\/span><\/p>\n

While we are accustomed to innovation for an invented product to reach the market it may take 20 to 30 years to reach the market.\u00a0<\/span><\/p>\n

Now done we have defined and clarified the\u00a0meaning\u00a0innovation and entrepreneurship.\u00a0<\/span><\/p>\n

Let\u2019s see the importance of innovation\u00a0and (why you should care)\u00a0in broad\u00a0terms\u00a0and categories. Chances\u00a0are\u00a0this are\u00a0categories are where you\u00a0lie\u00a0in the society.\u00a0<\/span><\/p>\n

Entrepreneurship<\/b>;<\/b>\u00a0Create new, products, services with new value\u00a0proposition\u00a0this\u00a0enhances growth of the company and expansion to new markets\u00a0and enhancing its brand.\u00a0<\/span><\/p>\n

Government:<\/b>\u00a0Innovative governments are able to offer better quality services to its citizens, cut down\u00a0costs,\u00a0generate more\u00a0revenue and\u00a0solve problems facing its citizens\u00a0like\u00a0poverty,\u00a0corruption,ignorance, health\u00a0unemployment\u00a0and governance.\u00a0<\/span><\/p>\n

Society<\/b>\u00a0<\/span><\/p>\n