How can business and the public sector adapt to – and utilize – the power of creative people?
In the latest Ericsson Business Review, I wrote an article about the game changers – the creative and entrepreneurial individuals who are bringing their innovations to global social networks and letting the public access their ideas, participate in them, or buy their products.
Previously, established corporations used to create consumer demand. Now, they are increasingly being challenged by the “game changers,” who often come up with the most attractive product concepts – changing the way business is being done.
There have always been creative and entrepreneurial individuals. Some of them have made names for themselves, started up businesses or become artists or corporate stars. But more often, they have nurtured their creative sides and entrepreneurial drive only in the seclusion of their own private sphere, as hobbies and garage projects. But this is no longer the case.
The internet holds digital content from all industries and simple communication tools, such as social media, spread this content to everybody, cutting transaction costs for distribution and communication to close to zero. The creative individual no longer has to make the leap that is required when starting up a business to participate in the market. Their projects are available to the market simply because they exist online, whether they were intended for commercial use or not. The presence of individuals’ content in what used to be commercial market categories, most notably newspapers, the music industry, TV and books, is turning the traditional market logic upside down. Read the full article at the Networked Society blog