Creative Economy

Too early to sleep…., and still making up the courage for my master degree…. I encounter this interesting article in this week edition of Business Week: Creative Economy.

Compared with last decade, which it called the Knowledge Economy, the Creative Economy has a slightly different rule of game. Both still based on the same principle: Innovation. What makes it different is the nature of the invention itself. In the Knowledge economy, big corporation research on technology, made a product based on it, throw it to the market, and people will crave for it. While in creative economy, the one who make money is they who do research based on customer experience and make products with creative design, along with creative marketing program.

Name few successful brands of the Creative Economy, Starbucks, and Apple with its iPOD. How many coffee shop out there, and why people love to buy the expensive coffee of starbucks? Or how many MP3 player out there, and yet iPOD still sell with a slightly high price?

So, why the obsolesced of knowledge economy? It always has been that, the western country is the center of technology development. Big Corporation opens their R7D center in US or Europe, employing smart people, inventing new technology, and sells it to the world. But, the advance of Information Technology make it possible to export the R&D job to other location, with the same quality of researcher, but with 1/3 of the cost of western people :D. Sad but true, the job is being exported to India, Philippine and China.

“How low can you go” might be a good question for western researcher…. if they’re not moving to Creative Economy. My own hypothesis, the westerner still has the leading edge in design innovation. They have the resource and skill to the research, and, being viewed as the center of technology; people will always crave for things that made the hype in western country.

The question is, are you bold enough to be creative? Time to sleep now, thanks to Lionel Richie, with his songs :D.

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