New Article on Risk-Taking and the Social Cost of Innovation
Have you ever wondered why certain innovations that are clearly superior to the technologies already in place take so long to catch on? Kim Barnes recently wrote an article that discusses the “social cost” of innovation as one of the risks involved in developing “new” technology, the fork, the umbrella, and the emerging technologies of our day and age.
According to Kim, “When we think about taking a risk, we may not consider or acknowledge these social costs. In our Intelligent Risk-Taking program, we identify seven arenas in which individuals take risks; financial, business, career, interpersonal, intellectual, physical, and image. Often, participants in the program, while thorough and thoughtful in assessing the risks they may face in promoting or supporting a change or innovation, overlook planning for any risks they face to their image and reputation… Risk-taking and innovation require you to think about the role that emotion and social influence play in the process of technology adoption.”