Entrepreneurial Innovation: Changes in Perception

In this country today people live longer lives, fewer infants and children die, and we enjoy much improved rates for curing cancer; yet it seems that we focus on medical tragedies more frequently than we ever have in the past. This is likely due to our improved ability to communicate quickly with those important to us both near and far.

I am not saying that this is a bad thing. It is ABSOLUTELY not. I appreciate up-to-date information on all those I know (or have come to know via social networking) who are fighting terrible diseases. Frequent updates remind me to lift these folks up in prayer much more often. That cannot be a bad thing.

This fact does make a statement about our society’s perceptions, however. Instead of praising medical advances, we focus on the more negative sides of disease. From a marketing standpoint, pharmaceutical companies have taken notice and are developing countless drugs and supplements. Many of them are needed and are extremely beneficial, while others can be pawned off simply as marketing gimmicks. Regardless, this is an example of entrepreneurial innovation based on human changes in perception.

Perhaps, a more upbeat example is consumer’s changed perceptions toward the need for environmentally-friendly products. Now, some hooligans have already jumped in and muddied the waters by claiming that their environmentally-detrimental products are green. That makes the job more difficult for entrepreneurs truly innovating in this space, but it should not deter you. Americans are making a statement and are moving toward a different ideal. Successful entrepreneurs will join them through new product development.

Individual’s perceptions change over time, as seen in the above two examples. This is a ripe place for entrepreneurs. Be alert.

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