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The Next Idea

Innovation is not always the answer

Feb 19, 2015
Flickr/Paul Hamilton

The Next Idea

Innovation is a big word. 

I must confess I haven’t given it much thought in more than a decade, since I was in the last semester of my MBA program in India. Probably that’s because, back then, the word came up too often. Innovation this, innovation that. Innovate. Innovate. Innovate. 

Technology pushes companies to work for us

Feb 16, 2015

The Next Idea

The world is rapidly changing, in case you haven’t noticed.  How we fundamentally interact with businesses, with government, and with each other is moving in directions that we are only starting to comprehend.

Flickr/Brian Flickinger

The Next Idea

Technological innovation alone doesn’t improve education. We often assume that the latest gadgets and software will change everything — that they will make things easier and better and solve larger problems. The truth is that technology is just one aspect in a larger web of cultural issues, and new breakthroughs by themselves will not have a broad effect on overall learning.

Courtesy of GM

The Next Idea

It can often be difficult to imagine just how much the latest innovations will truly affect our lives. The smartphone’s contributions, for example, are now obvious; the Segway’s, not so much.

One industry, however, that offers some of the clearest examples of how technology and new innovations will fundamentally change our world is the auto industry.

From driverless cars and 3-D printers, to shifting demographic and transportation trends, automakers are competing to find the best, most efficient innovations that will reshape everything from the way we buy (or share) cars to how we drive (or won’t) in the coming decades.

Standards and efficiency stifle innovation

Feb 5, 2015
BILL PUGLIANO GETTY IMAGES

The Next Idea

Most descriptions of innovation end up in overreaching hyperbole: groundbreaking, disruptive, radical. This shouldn’t surprise anyone because innovation is basically a type of positive deviance, a form of useful novelty. What separates a new soft drink that has a hint of cherry flavor from a vaccine that prevents the onset of Alzheimer’s Disease is the magnitude and speed at which it deviates from the norm. 

The Next Idea

Venture capital flow into Michigan has been steadily increasing since 2008, but the state saw a remarkable uptick last year. According to a report released last month by the National Venture Capital Association and PricewaterhouseCoopers, venture capital investment in Michigan nearly doubled, up from $111 million in 2013 to $219 million last year.  

Lots of talk about Main Street, yet few ways to invest

Jan 29, 2015
Michigan Main Street Center

The Next Idea

Following the 2008 crisis, many of my colleagues and I in the financial advising industry started to notice a curious thing. More clients began asking about where, exactly, their money was being invested. They wanted to know how to get some or all of it out of “the system," and quite a few added: "Oh by the way, do you know where I can learn about starting a business? I have an idea.”

Lindsey Smith/Michigan Radio

The Next Idea

Michigan’s economy is changing, and our state’s investment culture must change along with it. As we work to diversify by stimulating entrepreneurship, innovation and talent attraction, among many other things, more Michigan residents with money to invest must learn to see that betting on new local businesses is worthwhile, even if the potential for them to fail is high. 

Flickr/CityGypsy11

The Next Idea

In the recent elections last November, Michigan had the lowest turnout, percentage-wise, since 1990. 

Recent national polls show more citizens lack trust in elected officials to serve the public good over private interests than ever before. Elections across the country are now more driven by the excessive wealth of a few, mostly white males, who also help shape the issues discussed, and when they are discussed.

Flickr

The Next Idea

The early history of the Michigan economy is a study in diversity: fur trading, lumbering, furniture making, dairy and fruit farming, salt mining, and who can forget cereal making. But starting with the American Century, the Michigan economy has become the most one-dimensional in all of the United States. Our fortunes come and go with the automotive industry. 

Courtesy of optiMize

The Next Idea

In his essay for The Next Idea, contributor Jamie Shea, who helps finance social enterprises, argues that Michigan has an opportunity to become a global leader in new ideas to solve age-old social problems. One reason Michigan has this potential, he says, is because “new social enterprises are often led by Millennials who want to align their work with their values.  

Courtesy of Urban Ashes

The Next Idea

I think most people would agree that Michigan is on the rebound. In Detroit, where I live, new restaurants are popping up on a weekly basis, national retailers are moving in, and corporations are opening new offices. This hint of change in the Pure Michigan air is still polluted, however, by many of the same intractable issues -- homelessness, unequal access to education and food, and environmental degradation, to name a few. Much like the rest of our economy, these old problems require a new approach.

Focus on STEM overshadows importance of music education

Jan 5, 2015
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The Next Idea

When we talk about building an education system that prepares children for the creative thinking and collaboration skills necessary in today’s -- and tomorrow’s --  job market, there’s an amazing resource here in Michigan that, like most places, gets almost criminally overlooked: music educators.

Luther College_Photo Bureau / Flickr

Is Michigan just too modest, too Midwestern in the way it treats its prominent entrepreneurs? Jeff DeGraff thinks the answer might be yes.

DeGraff is a clinical professor of management and organizations at the Ross School of Business at the University of Michigan and our partner for the Next Idea. Jeff DeGraff has two questions for listeners:

How would you identify the best and the brightest? And what kinds of help would you give them?

Today on Stateside:

  • The EAA announces Veronica Conforme as its new chancellor after she spent six months as the district's interim chancellor. Conforme discusses what the EAA has done so far and what progress she hopes to make.
  • Legendary TV anchor Bill Bonds died this past Saturday at the age of 82. Dick Kernen of the Specs Howard School of Media Arts who had previously worked with Bonds briefly discusses his life and impact on broadcasting.
  • Is Michigan doing enough for its young entrepreneurs? Jeff DeGraff is here to talk about his thoughts on what Michigan can and should do to encourage economic growth and development through nurturing young entrepreneurs.
  • The border between Detroit and Grosse Pointe Park offers an eye-opening lesson in racial and economic disparity. Reporter Bill McGraw has written about the farmer’s market sheds in the middle of Kercheval at the Detroit border and what their construction says about the relationship between the two cities.
  • A new bar has opened up in Ann Arbor. The Brillig Dry Bar doesn’t serve alcohol. Its creator, Nic Sims, discusses why she decided to open a dry bar and the response she has received so far. You can visit the website here.

The Next Idea

You may have never heard of Joseph Schumpeter, an eccentric Austrian economist who taught at Harvard in the 1930s and '40s. But to those of us who study the strategic and financial dynamics of innovation, he is far more influential than his peers John Maynard Keynes or Milton Friedman. Schumpeter is the guy who made the entrepreneur the engine of growth for an economy, and several Nobel Laureates since have suggested that he was right on most counts.

xianrendujia / Flickr

With all the news about Silicon Valley startups, you could get the idea that entrepreneurship is thriving in the United States.

The reality is U.S. entrepreneurship has been in a pretty steep decline for 30 years. The Next Idea team got to wondering about that. So, we asked Stewart Thornhill to write an essay about entrepreneurship. He’s a professor who teaches entrepreneurship at the University of Michigan.

Turning a dreamer into an entrepreneur

Dec 10, 2014
Flickr

Once someone learns that I’m an entrepreneurship professor, sooner or later I’ll be asked: “Can you really teach entrepreneurship?” This seems to come from the long-held – and consistently disproved – belief that entrepreneurs are special and if you aren’t born that way (props to Lady Gaga), there’s no point in trying. So let’s get that out of the way right now. Yes, entrepreneurship can be taught and learned, and entrepreneurs are just like the rest of us.

Wilamoyo / Flickr

It’s the holiday shopping season and you’re probably being bombarded with the message "buy more, your loved ones deserve it", "Do your part to stimulate the economy", and "Just. Keep. Buying." 

Today on Stateside:

  • A lawsuit filed against the emergency manager law alleges racial discrimination against minorities. University of Michigan professor Reynolds Farley discusses why so many minorities find their communities and school districts in bad financial shape.

  • There are a number of vacant lots in Flint and many of these lots have grass. Continually having to mow vacant lots is a financial strain on the city. Doug Weiland, Executive Director at the Genesee County Land Bank discusses a recent solution to this problem.

  • A new documentary, Vanishing Borders, directed and produced by Michigan State University assistant professor Alexandra Hidalgo, explores immigration from the perspective of women. Listen to Asst. Prof. Hidalgo discuss her powerful documentary and what she hopes audiences gain from viewing it.

  • In Stateside’s project, The Next Idea, Prof. Rex LaMore, Director of Michigan State University’s Center for Community Economic Development pens an essay on consumerism in relation to economic growth. Listen to Prof. LaMore discuss this concept and why it needs to be reexamined. 

  • When Whole Foods opened in Detroit, there were questions on whether or not the vast majority of Detroit could afford the upscale grocer. Goals were set into place to make the grocer more accessible to the citizens of Detroit. The results, however, have been a mixed bag. Traci McMillan wrote a piece for Slate.com entitled ‘Can Whole Foods Change the Way Poor People Eat.’ Listen to McMillan discuss her piece.

*Listen to the full show above

Wikimedia

Anyone who believes exponential growth can go on forever in a finite world is either a madman or an economist.” -- Kenneth Boulding, economist and political philosopher

As we approach the holidays and we are encouraged to do our civic duty by shopping until we drop, it may be helpful for us to reflect on the concept of innovation and what it may mean to us as consumers.

A more seamlessly connected experience.

That's what Jeff DeGraff thinks Michigan needs to move its economy forward. DeGraff is our partner for The Next Idea. He's a clinical professor of management and organizations at the U of M Ross School of Business.

DeGraff says he sees Michigan’s economy as three distinct parts: large multinational corporations based in the greater Detroit metro area; mid-level businesses in western Michigan; and small startups in places like Ann Arbor that have young, vibrant, and intelligent people.

Click on the link above to hear Cynthia's conversation with DeGraff.

Time to turn Michigan's "three economies" into one

Dec 1, 2014
Wikimedia

When it comes to economic growth in Michigan, one size does not fit all. Take a look at the varying scope and scale of companies here and you’ll find a general pattern of three different types of businesses associated with different regions:  large multinational corporations in Southeast Michigan, small high-tech start-ups in Ann Arbor, and family-owned, mid-size companies in Western Michigan.

Missy Schmidt / Flickr

The creative, the visionary, and the just plain out there.

That’s the goal of Michigan Radio’s new project, The Next Idea.

The on-air and online project will focus on creativity and innovation and ideas to move Michigan forward.

We’ll be featuring this project here on Stateside and we will look to you and ask for your ideas.

Today on Stateside:

  • The legal team for April DeBoer and Jayne Rowse filed their appeal today with the US Supreme Court.  They want the court to rule that Michigan’s ban on same-sex marriage is unconstitutional. Rick Pluta, Lansing Bureau Chief for the Michigan Public Radio Network is here. 

  • Michigan Radio's newest project is The Next Big Idea. Here with us today are Joe Linstroth and Jeff DeGraff, who discuss what innovation means to them and what they're looking for.

Michigan's future starts with new ideas

Nov 17, 2014
Wikimedia

Americans love the next thing: the newest gadget, the latest fashion, and all manner of ground-breaking artistic creations. In fact, our entire worldview, economic system, and personal behavior are based on the idea that progress and growth is good.

We are driven to be better and new.

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