1. The Trait to Innovate Lesson 9 Slide 9A

2. What Does That Mean? TermDefinition innovationan improvement on or a significant contribution to an existing product, process or service which creates value. inventionthe creation of a product or introduction of a process for the first time. Slide 9B

3. What Does That Mean? TermDefinition associational thinking drawing connections between questions, problems, or ideas from unrelated fields. collaborationjoint effort of multiple individuals or work groups to accomplish a task or project. Slide 9C

4. What Does That Mean? Slide 9D TermDefinition research and development R&D; scientific and technological research and experiments made for the purpose of developing a new product, process, or service.

5. Reminder Slide 9E  Remember to visit http://c21student.com/flashca rds/ http://c21student.com/flashca rds/ to access the online flashcards!

6. Lesson 6 Objectives  Relate innovation to economic growth and prosperity.  Analyze the traits of an innovator.  Explore whether they have the traits of an innovator.  Create a plan to develop associational thinking skills. Slide 9F

7. Slide 9G

8. Slide 9H  Innovation is design or other changes applied to existing products to improve or advance them  Invention is creation of product or process for the first time

9. It’s All About Innovation Slide 9I

10. Traits of an Innovator  Alert to opportunity  Educated  Persistent  Accepting of uncertainty  Passionate  Associational thinker  Has vision  Cautious  Collaborator  Knows market Slide 9J

11. The Big Picture Slide 9K It’s all about innovation. When a society stops being innovative, commerce suffers, the economy stagnates, jobs are lost, businesses close, and people suffer. Innovators improve on or make significant contributions to an existing product or service which creates value in the product or service. They are well-educated, insightful, and persistent team players who have a passion for, and a strong belief in their mission. A good education and the ability to think associatively are traits of an innovator. Being 21st century financially literate means understanding and appreciating the value of innovation and innovative thinking to growth and prosperity.

12. Ponder and Predict  Americans are very innovative. In fact, most of the innovations that drove 20th century commerce originated in the U.S. with companies like IBM, Westinghouse, and General Electric leading the way. As the tech industry grows and commerce expands globally, the U.S. remains a top innovator. However, according to Bloomberg, a popular business and financial analysis site, two countries now outrank the U.S. in innovation. Which ones? Slide 9L