21st century business & innovation

Thomas Hawk

Thomas Hawk

Business in the 21st century faced a wide range of complex opportunities and difficulties. Due to rapid changes companies have had to adjust their strategies in an ever-evolving environment to maintain a competitive edge. ‘Innovation’ is what companies result to, to meet new requirements from the market.

An original idea, a novel idea – innovation has undoubtedly gained an attraction.

But even the greatest innovative ideas, operating with a well-planned and measurable approach, tend to flop. Innovation often fails and it has its downside – negative effects such as pollution and exploitation can’t be looked away from.

Innovation, though, is highly important for our society, it is the key for growth – in fact it is the route to economic growth. Innovation creates new businesses that lead to new and creative jobs for our society. And although this may sound like a capitalistic propaganda speech let’s face it, citizens with jobs are happier than citizens without jobs. In particular when they have the freedom to choose their jobs because of innovative ideas.

Innovation is important for the progression of human-well being. Bringing new ideas into the world makes us happier. It is critical to keep developing our skills and potential – the joy of creating a new idea or starting something up and perhaps leaving something behind you is undeniably an attractive option to many.

Without innovation organizations and companies aren’t competitive – we wouldn’t be standing with our Iphones snapping a photo of our friends and sending them directly to our family in another country if we would have accepted standing in the pay phone for eternity. Innovation is taking an opportunity and acting on it – it is bringing new ideas into the world and that is why it is undeniable attractive.

Svanlaug Árnadóttir

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