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Posts Tagged ‘Innovation’

Given that Cannes Lions is just around the corner, I wanted to explore the topic of innovation and wealth creation.  Basically, the age we are in.

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At a conference for marketers in Tel Aviv recently I asked the audience how many of their parents had encouraged them to become entrepreneurs. In a room of roughly 250 people, fewer than five hands went up. I then asked how many encourage their children to become entrepreneurs. I looked out over a sea of raised hands, probably 95 percent of the audience. It was as if I heard the death knell for the big corporation – the 20th Century’s symbol of gainful employment – right then and there.

Welcome to the Age of Innovation. This is an era when technological advances are expected; when new markets spring up over night; and when the rate at which our society transforms itself means that we cannot predict what life will be like in 3 years, let alone 5 years.  For me, innovation perfectly captures what that room of Israeli business leaders represents: The innumerable variety of creation – and destruction – going on all around us.

There are seismic shifts occurring in both the economic and societal realms (more…)

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About ten years ago I helped conduct a cross-media study for a major Japanese automotive company. We were employing some pretty groundbreaking research to discover whether a company’s marketing budget was being put to good use. For this particular company, we found that 50 percent of its marketing budget in television was wasted. Literally wasted: Half wasn’t bringing in any value whatsoever.

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