"Innovation is something that generates value for the world. It makes something faster, better, cheaper. It gives someone some great satisfaction. An invention is an idea, a technology, a patent in and of itself. It does not generate value."
innovation driven innovation for the world invention for the world innovation = invention + commercialization generate value faster better chaper invention to solve world problems thus commercialization and make money out of it
0:23 0:42 Innovation = Invention WRONG Innovation - Value Generation 1:28 Innovation = Invention * Commercialization 2:11 2:47 The Commercialization Aspect is the difficult part of Innovation
innovation equals invention times commercialization faster better cheaper for impact generate value commercialization for the world is great for the whole world great invention then commercialization innovation is invention to make greater value equation
Do social innovations need to be commercialized before being able to be categorized as an innovation? The formula is nice to show the difference between invention and innovation - but the the focus on commercialisation does not cover all types of innovation...
Should “Commercialization” be a must in the equation? Example: creating a revolutionary equipment meant to be used in the manufacture for a specific product. The added-value to the customer is the reduction of defects, and although the manufacturer could -commercialize- the new machine, decides not to. In any case, will only replicate the new idea on other applications.
Should have invested in Apple back then the writing was on the wall. The company in Silicon valley that takes other people's great ideas and make profits from them.
The Innovation does not add value to the customer. I don't think commercialization itself does either. Then if Innovation=InventionxComm, then we r missing some components in the equation that creates some value. THere should be some term that "modulates" the INvention and as a result we get the value. Not fully sure about my statement though. By the way, * is convolution not multiplication :).
Innovation "the word" has nothing to do with commercialisation. Entrepreneurship = Innovation x Commercialisation and Innovation is a novel product, service, process or an idea which is creative, advanced and Original.
Helpful for analysis, but is it the way people who actually start successful new businesses think about things? Do you have any data? Many think the entrepreneur is more like a Peace Corp volunteer, they have a passion for whatever it is they are trying to get to the market.
Yes it is Germans invented computer in thirties we innovated it later Germans in thirties invented stealth plane futuristic we innovated it built it later that's how innovation started blacks and Germans invented independently coincidentally to same time with others
"Innovation is something that generates value for the world.
It makes something faster, better, cheaper. It gives someone some great satisfaction.
An invention is an idea, a technology, a patent in and of itself. It does not generate value."
Great memories Bill Aulet! Still today I use the Innovation equation!!
Maybe MIT could employ the innovative concept of *pinning* a microphone on the speaker of this video to enable optimal audio clarity.
@Nico Amari You're right, nobody gives a shit
lol
innovation is the idea /technological which can do something
the best example he chose to make the message across
great, simple and clear video
.
innovation driven
innovation for the world
invention for the world
innovation = invention + commercialization
generate value
faster better chaper
invention to solve world problems
thus commercialization and
make money out of it
0:23
0:42 Innovation = Invention WRONG
Innovation - Value Generation
1:28 Innovation = Invention * Commercialization 2:11
2:47 The Commercialization Aspect is the difficult part of Innovation
innovation equals invention times commercialization
faster better cheaper for impact
generate value
commercialization for the world is great for the whole world
great invention then commercialization
innovation is invention
to make greater value equation
Do social innovations need to be commercialized before being able to be categorized as an innovation? The formula is nice to show the difference between invention and innovation - but the the focus on commercialisation does not cover all types of innovation...
A social innovation that is implemented can be considered as an innovation.
@@dude5045 True, because people still have to buy into your vision even if money doesn't exchange hands
Who decides that this is the definition of “innovation” and not something else?
Exactly my thought...
Should “Commercialization” be a must in the equation? Example: creating a revolutionary equipment meant to be used in the manufacture for a specific product. The added-value to the customer is the reduction of defects, and although the manufacturer could -commercialize- the new machine, decides not to. In any case, will only replicate the new idea on other applications.
Should have invested in Apple back then the writing was on the wall. The company in Silicon valley that takes other people's great ideas and make profits from them.
Completed. Very helpful
The Innovation does not add value to the customer. I don't think commercialization itself does either. Then if Innovation=InventionxComm, then we r missing some components in the equation that creates some value. THere should be some term that "modulates" the INvention and as a result we get the value. Not fully sure about my statement though. By the way, * is convolution not multiplication :).
THnks for sharing,
very helpful
Very interessant video !
Thanks for sharing
I would say:
Innovation = invention x promoting
why innovation but not sme/global business
Well demonstration and explanation.
I got this in real exam in march 2019
Innovation "the word" has nothing to do with commercialisation.
Entrepreneurship = Innovation x Commercialisation
and Innovation is a novel product, service, process or an idea which is creative, advanced and Original.
Innovation already is about commercialization.
@@MegeshVaidun no
thankyou so much sir. love from Pakistan..
thumb up. great video
Brilliant! Brilliant! Very clearly explained! Thanks MIT OpenCourseWare! #SecretsSelfmadeBillionaires
Helpful for analysis, but is it the way people who actually start successful new businesses think about things? Do you have any data? Many think the entrepreneur is more like a Peace Corp volunteer, they have a passion for whatever it is they are trying to get to the market.
thanks you so much
Very Nice....
great video
Thanks 🙏
completed
what is commercialization?
Ability to sell something or when you get people to buy.
3.12.22
Great lecture 😎
Great video! However, I disagree about the statement that apple is the most innovative company.
yh i mean is google dead
Apple was the most innovative company , now it's a company
I think Google is a most innovative company
Yes it is Germans invented computer in thirties we innovated it later Germans in thirties invented stealth plane futuristic we innovated it built it later that's how innovation started blacks and Germans invented independently coincidentally to same time with others
Hi .Teacher.What is a good idies?
Cool!
very informative video
Ano ang innovation
Thank you sir
Fantastic definition!
Invention vs discovery ?
You discover natural laws. Or from.nature that already exists.
Invention is what you create.
Nice
Fantastic Video!
Thank you so much !!
WOW
So it is only emphasizes the point that the only thing Apple good at is the commercialization. Very innovative of them...
Hadir from STMIK PRIMAKARA
cool
PTE innovation
1
i get it but thats just true within capitalism, isnt it?
Thank you soo much, I'm a new Sub.
nice
apple serve world problme
commercialize the computer
great value serve world commercialoze for teh world
yawn
YOU DID NOT DO GOOD I STIIL DONT KNOW WHAT IT IS
Then you're dumb not his fault
Its the implementation of an invention. You can invent poop soda but nobody would buy it so its just an invention not an innovation
I watched this today
completed