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The Nature of ValueHow to Invest in the Adaptive Economy$
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Nick Gogerty

Print publication date: 2014

Print ISBN-13: 9780231162449

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231162449.001.0001

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Knowledge and Innovation

Knowledge and Innovation

(p.55) Chapter Four Knowledge and Innovation
The Nature of Value

Nick Gogerty

Columbia University Press

This chapter introduces the fundamental building block of the adaptive economy—the ino, short for an informational unit of innovation. Just as a gene is the unit of information that determines the possible traits an organism can express, an ino is the information that determines the possible capabilities an organization can express. If a company has inos that give it a competitive edge, these inos will start to spread throughout the economy. The chapter examines the various types of innovation that can help companies succeed, and points out what allocators can look for when assessing sustainability in innovative firms. The most effective inos replicate and amplify themselves in an attempt to capture customer and corporate value. Inos are everywhere, exerting a constant competitive pressure to deliver more value. In the right context, this selective pressure expresses itself as value creation and capture for the host organization and society.

Keywords:   adaptive knowledge, adaptive economy, value, ino, nformational unit of innovation, innovation, competition

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