Innovation-driven growth model
Inspired by last year's nobel prize winners in Economic Sciences, Joel Mokyr, Philippe Aghion & Peter Howitt, I am proposing a value chain focusing on the processes & data from Knowledge to Innovation to Process Transformation to Value Creation to Economic Growth and eventually to New Innovation Opportunities.
Knowledge enables innovation. Innovation enables process transformation. Meaningful processes create value. Continuous value creation drives sustainable economic progress.
AI can accelerate knowledge creation, research and technological innovation. But its contribution to economic prosperity depends on whether organizations transform these capabilities into productive, useful and trustworthy processes.
1. Generate & advance Knowledge
Research, experiment, validate & codify new knowledge. Generate scientifically grounded & practically useful knowledge that enables technological & societal innovation.
2. Develop & validate Innovations
Design, prototype, test & validate innovative solutions. Convert new knowledge into feasible innovations that address meaningful economic or societal needs.
3. Transform productive Processes
Redesign, implement & optimize productive processes. Translate innovation into more effective, efficient & sustainable processes that generate useful outputs.
4. Create & deliver Stakeholder Value
Produce, deliver & assure valuable products & services. Transform productive capabilities into valuable products, services & measurable stakeholder benefits.
5. Scale Sustainable Economic Value
Scale, diffuse & govern productive economic activities. Expand successful value creation across markets & society while supporting productivity, employment quality & sustainable economic development.
6. Reinvest & renew Innovation
Evaluate outcomes, allocate resources & initiate renewed knowledge development. Sustain the innovation cycle by reinvesting economic benefits & applying accumulated experience to new knowledge & innovation opportunities.
This event-driven SIPOC process & data model connects the economic theory of innovation-driven growth with the practical architecture of value creation.
Using the following link you can access this sandbox model in the ProcessHorizon web app and adapt it to your needs (easy customizing) and export or print the automagically created visual AllinOne event-driven SIPOC map as a PDF document or share it with your peers: https://app.processhorizon.com/enterprises/gUiwJWm5dLyPaTkKgRxznGk4/frontend