Now decades into globalization, the mountains and valleys of differentiated costs for produ

Recorded history is fundamentally about development where "building-up" areas present bigger and better opportunities than "built-up" areas (i.e.: a new bridge project provides opportunity for jobs - until the bridge is completed ... then bridge workers must either find the next bridge project or change careers). On the macro level, peoples have migrated from homelands throughout recorded history to find opportunity to earn income.
In the USA, the American Heartland started to be coined 'The Rust Belt' back in the 1970s as the ripple effe



The inc.com story's mention of the emergence of the new CIO (Chief Innovation Officer) is evidence that the decades old approach to cost reduction innovation via Chief Information Officer focus is beginning to run it's functional life cycle. Longer term, assuming relatively open global free trade, regional cost advantage gaps will continue to narrow ... putting increasing importance on growth to pivot from the late 20th Century's generational focus on cost reduction innovation ... to pure new product innovation.
While Steve Jobs has been heralded as our generation's Edison, do not fail to also understand that Jobs was a

Of course Jobs' products were innovative as well ... but from my vantage point, I sat in AT&T HQ planning meetings back in the 1980s where we envisioned and began planning for how to get legacy IT infrastructure to support the inevitable multi-functional hand held PDAs. Jobs wasn't the only one who saw the need and envisioned the ideas manifested in the iPhone, but Jobs had the ability to control his company's climate to facilitate seizing opportunity in this area better and faster than corporate telecom titans who had at least 3 strikes against them:

1) Back to Clayton Christianson's concept in his book 'Innovators Dilemma' that is fundamentally about the business politics of self cannibalization (creative destruction) that stalls innovation until the last drop is squeezed out of the turnip/business plan of the prior innovation (a strategy that's fine if you have no competition),
2) Post deregulation break-up challenges to be competitive, and
3) Chasing the financial ghost that at the time was MCI/Worldcom ... the historic corporate financial fraud that handicapped/severely wounded the telecom

As the 4 year old Great Recession continues with continued record unemployment, real estate values continuing to plunge, about 100 more US bank closures in 2011, ominous signs from the EU and beyond, the emerging Chief Innovation Officer will have one of the most important roles in the 21st Century and beyond to help get out of the current global economic quagmire and envision not only new products, but innovative policy and strategy to facilitate sustainable long term growth, as well as the broader challenge to evolve business thinking, investor thinking in terms of paradigms that define true, sustainable success.
