As you get ready for the new week, I want to recommend this short video I made many months ago. In this video, I had explained the simple difference between a nation like the United States and another like Nigeria. America is an innovative society, Nigerian is an inventive society. There are so many ideas in the latter but hardly enough products and services to match those ideas.
Until nations transmute from being inventive to innovative, they will remain poor. No nation has become rich without that translation. Yes, always remember that most of the pioneers of the most fundamental aspects of physics, mathematics and chemistry died poor. They were bright people – but they ended up poor. Why? They lived in societies of ideas with no products because there was no transduction from invention to innovation.
For that I mean, they had ideas in shelves but no mechanism to create products from them. Then, something happened, and a transduction took effect and poor societies evolved to become rich. Unfortunately, not all societies followed that trajectory. And all societies must go through the transduction process to emerge.
Register for next edition of Tekedia Mini-MBA (June 22 - Oct 22, 2020) here. Four months, online, and costs $140 or N50,000 naira .