Professional MBAs take 1st place

Kudos to Professional Jenkins MBAs Pierre Marcella and Graham Ransom who took 1st place yesterday in the Poole College of Management's 8th Annual Leadership and Innovation Showcase.  Teaming with College of Design student Sunny Su, Marcella and Ransom have developed a smart coffee device that can roast, grind AND brew coffee.  Buyers will be able to save a lot of money by doing their own roasting, plus they will get a much tastier brew.

Their project comes from MBA 555 Product Innovation Lab, a course that has been very well received over the years including recognition from Forbes as one of the ten most innovative MBA courses.

Marcella and Ransom will both graduate by the end of the year and they plan to turn their project into a business.  They already have a working prototype.  Looking for a great investment opportunity?

Kudos also to the second place finishers full-time Jenkins MBAs Dana Magliola and Lindsay Schilleman for their research project that measured the size and economic impact of North Carolina's supply chain.

Has the rate of innovation slowed down?

Economists are having a hot debate on whether the economic payoff from innovation has slacked off and The Economist recently ran a long article summarizing the main issues.  Why, in an age of smart devices and gene mapping, would one think that innovation is slowing down?  One reason is the growth statistics; GDP per capita grew 2.5-5% annually in the 1950s and 1960s but only grew 1% annually so far in the 21st century.  The second argument is that today's innovations are less life changing than those of years past.  As cool as nanotechnology may be, it is not yet having the same effect on people's well being as indoor plumbing, air conditioning, kitchen appliances, and automobiles. 

So should we expect life in 2050 to be about the same as today?  I seriously doubt it.  Other economic research has shown that there are significant lags between the introduction of a new technology and its full adoption.  As the Economist notes, it took a full century for the steam engine to have its full effect; four decades for electricity.  Another reason to expect more innovation: rising levels of education in countries across the globe.  This means more researchers and more innovations.  We also should expect continued improvements in health and longevity, thanks to the innovations in IT and life sciences.