Innovation
Global Investor Focus, 02/2007 Credit Suisse
Global Investor Focus, 02/2007
Credit Suisse
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Global markets T-shirts from China, roses from Ecuador, wine<br />
from South Africa: faster communications and transport, simpler financial<br />
systems and the political will to remove trade barriers are making<br />
international commercial relations more interdependent. Production<br />
takes place where costs are lowest or know-how is greatest. The<br />
worldwide market offers opportunities: wider prosperity, bigger sales<br />
and more resources. But international competition also creates insecurity<br />
and fear. In Western countries, jobs for low-skilled employees<br />
are scarce. Migration has brought additional labor on to the market,<br />
and different cultures clash. The search is on for improved working<br />
patterns and fair and even-handed terms of trade.<br />
Why now?<br />
The World Wide Web The Internet Logistics a means of In communication,<br />
the past, trade routes lay along difficult and dangerous<br />
tracks. and a This network meant all that in one. goods manufactured at a distance were<br />
a knowledge platform, a trading exchange<br />
Regardless of place and time, people rare meet and and precious. swap wishes Nowadays and a gigantic transport network spans<br />
ideas almost instantaneously. One the person globe. may Every be looking day, tonnes for a of goods are conveyed in modular<br />
solution to a specific problem. Someone containers else may by have air, an truck, idea, rail but and on container ships. Technical<br />
not know a suitable application for it. progress Perhaps their makes virtual it possible paths will to increase the speed and efficiency of<br />
cross. The result is a fresh product and, the flow in some of goods. cases, In an particular, innovation.<br />
Many websites serve as platforms nization for ideas of processes and then facilitate at docks and depots. This not only saves<br />
automation allows better synchro-<br />
the process of innovation. Realizing time, the but new also used expensive to be lonely, storage. On the other hand, climate taxes<br />
backroom work. Later, it became a more-or-less and increasingly linear scarce process fossil in fuel resources may well increase<br />
institutionalized research and development transport departments. costs again. Now, Renewable in energy sources are therefore<br />
the Internet age, it is often a chaotic vital interplay to the of logistics disciplines. sector.<br />
Photo: image100/Corbis<br />
NASA/Roger Ausloeser/zefa/Corbis Ressmeyer/Corbis<br />
The radio<br />
In 1896, Russian Alexander<br />
Popov transmitted the<br />
words “Heinrich Hertz” to<br />
a receiving station 250<br />
meters away. But Guglielmo<br />
Marconi is generally credited<br />
with inventing radio at<br />
round the same time, while<br />
the ground-breaking work<br />
of Nikola Tesla also played a<br />
vital part in this innovation.<br />
The airplane<br />
On 17 December 1903,<br />
two American brothers,<br />
Orville and Wilbur<br />
Wright, made their first<br />
successful machinepowered<br />
flight over a<br />
distance of 260 meters<br />
at Kitty Hawk, North<br />
Carolina.<br />
The computer<br />
1946 was the year ENIAC<br />
was created — the first<br />
Electronic Numerical Integrator<br />
and Calculator. In<br />
1947, IBM built the SSEC<br />
(Selective Sequence<br />
Electronic Calculator),<br />
a hybrid computer featuring<br />
vacuum tubes and<br />
electromechanical relays.<br />
1900 1790<br />
1800 1910<br />
Fluorescent tube<br />
Superconductor<br />
Tank<br />
Conveyor-belt production<br />
1920 1810<br />
Steamship<br />
Supermarket<br />
Zip fastener<br />
Television<br />
Traffic light<br />
1930 1820<br />
Helicopter<br />
Photocopier<br />
Teflon<br />
1830 1940<br />
Atomic bomb<br />
Transistor<br />
Electric motor<br />
Bar code<br />
Telegraph<br />
Scanner<br />
Fuel cell<br />
Rubber tyre<br />
1840 1950