Econovation The Renegade Guide to Innovating in a Disobedient Economy

By Steve Faktor
John Wiley & Sons November 2011

Specifications

ISBN-13
9781118054000
Publisher
John Wiley & Sons
Publication
November 2011
Format
Hardback , 224 pages
Jurisdiction
International ? Countri(es) for reference only

Details

The only book you'll need to succeed in our tumultuous economic environment

Over the last twenty years, China fed our zombie-like appetite for iPhones, Prada, and Snuggies. At the same time, its biggest customer, the United States, found itself in debt, under-educated, and covered with recreational tattoos. So now what? Will America wallow in mediocrity like Greece or some C-list celebrity? Or, will our legendary ingenuity save us from Tweeting, and eating, our way to irrelevance?

Econovation is a bold, witty response to those questions that doesn't rely on miracles or government for answers. It challenges business leaders to think differently about the next decade of the U.S. economy and respond with big, sustainable innovations. Written by Steve Faktor, Vice President of Growth and Innovation at American Express, Econovation is a trends book on steroids. It's bursting with practical, thought-provoking ideas no executive, entrepreneur, or Fed Chairman can afford to miss. Econovation finds real-world opportunities in unexpected places.

  • Reveals how to capitalize on a market that will go from making nothing to making everything—for China
  • Details psychological pricing and some crafty tricks from Google to reduce reliance on tapped-out consumers
  • Explores how to seduce a desperate government to finance your business, then feed you pancakes in the morning
  • Discusses how to sell to new consumer identities that are based on what people produce, not what they buy, click, or super-size
  • Addresses how to motivate tomorrow's employee with social currency instead of the green, depreciating kind
  • Explains how to upgrade your kids and your business with a little help from Mormons and kindergartners with hacksaws

Econovation is a fresh perspective on a future we've taken for granted. It empowers readers to think big, dream big, and conquer economic conditions that paralyze others. With a hefty dose of data, humor, and actionable ideas, Econovation offers insight and amusement in one convenient place—a rare treat for a business book.

Table of Contents

Acknowledgements

Introduction

Econovation?

Why Me? Why Now?

The Next 100 Years

Coming Up in Econovation

Chapter 1 Yesterday

The Riddle of Indulgence in an Age of Constraint

The Way We Were

Right Now

So What?

Chapter 2 Tawdry Tales of a Service Economy

Botox and Other Services

Haves vs. Have-Nots

Fossils and Fledglings

The Power of Intangibles

So What?

Chapter 3 The Next Decade

A Rebalancing: What's Likely, Possible, and Remote

Possible: Crisis Part II - Shaky Demand for US Debt, Inflation and Possible Default

Possible: New Reserve Currency

Likely: Surpluses and Scarcities – China Wants Porterhouses, Too

Likely: Big Cuts, Taxes and Reallocation of Resources

Likely: Battle of the States

Possible: Revenues from the Fringe

Possible: Capital and Talent Flight

Probable: Innovation Stimulation

Definite: Distortions

Remote: Collapse and the Revenge of Mystery Meat?

A Shift in Power, Capital and Priorities

So What?

Chapter 4 Sell Actualization

The Seven Economic Identities

Get Your Free Labor Here!

What Minimum Wage? Tiny Jobs for Tiny Pay

Social Identity as Economic Leverage

Secure Future

So What?

Chapter 5 Build a Capital Magnet

Sell to China, India and Brazil

Change the Model

Become a Foreign Capital Magnet

What US Companies Can Make in the Next Decade

So What?

Chapter 6 Make Makers

Education Complications

Fix the Core

Automate: Rise of the Machines

Repair School Financing

Empower Makers

So What?

Chapter 7 Liberate Micropreneurs

Splice Entrepreneurship into Education

Gain Access to Capital

Close the Confidence and Knowledge Gaps

Disneyfication for Micropreneurs

So What?

Chapter 8 Build an “Incentive-Nation”

Touched by the Hand of Go...vernment

Price, Love and Understanding

Pricing and Incentive Models with a Future

The End of Money

So What?

Chapter 9 Unfinished Business

The Missing Link

Nobody's Bitch

Appendix

Applying Econovation

How the Sausage Was Made

Approach

Hindsight to Foresight

All Together Now

About the Author

Index

About the Author

STEVE FAKTOR is the former Vice President of Growth and Innovation and head of the Chairman's Innovation Fund at American Express. There, he developed and incubated numerous growth ventures including Zync, Loyalty Edge, and Private Sales, a joint venture with Vente Privée. Steve is the founder of Blue Beacon Partners, LLC, which helps start-ups and corporations innovate new products and services, think big, and build a sustainable growth pipeline. In his career, Steve has created several $100-million-plus businesses, generated billions in sales volume, and deployed three enterprise-level innovation programs. Previously, Steve was a senior innovation and strategy executive at Citi and MasterCard. As a management consultant at Arthur Andersen, Steve led strategy, marketing, and technology projects for clients like WPP (Ogilvy), Samsung, JVC, Bombardier, Boise Cascade, Omnicom Group, and PSEG.

As a futurist, innovator, and digital payments expert, Steve is a popular global keynote speaker on future growth opportunities. Steve also leads innovation workshops, ideation, and training sessions based on his proprietary 4C's of Innovation methodology. An author with a satirical touch, his latest musings on trends in business can be read at ideafaktory.com.

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