Glossary: Economy

 

  

 
   

Inspirational Economy

 

  

 
 

The inspiration economy refers to an economy driven by creativity, innovation, innopreneurship, and a deep rooted sense of uniqueness for everyone who contributes to it and creates innovative value for others.

“Trading in inspiration is the most effective way to increase creative quality and output.” ~ Morgan Knutson

  

 
 

The "inspirational economy" refers to a framework where creativity and innovation drive economic practices, heavily influenced by principles such as psychodynamics and cognitive approaches.

 

Inspirational Leadership

Inspiring Culture

  

 
 

It encompasses how creative content is continuously shared and reshaped within digital platforms, allowing for collaboration and mutual inspiration among designers and creators.

Inspirational Economy promotes trust, autonomy, and a shared vision among participants, fueling mutual creativity and further innovation.

  

 
   

Community-focused Inspirational Economy

 

  

 
 

The Inspiration Economy (IE) is a concept aimed at enhancing communities by raising their capacities and responding to their demands through various inspirational initiatives. The goal of IE is to stimulate community engagement and development by fostering inspiration and harmonious innovation within the social and economic spheres.

The Inspirational Economy concept was institutionalized with the establishment of the International Institute of Inspiration Economy in August 2015 in Slovenia.

 

Innovation Cluster

Soft Innovation

Open Innovation

Innompic Ecosystem

Planet of Loving Creators

United Innovators

Innompic Games

  

 

 
   

SWOT Analysis of Inspirational Economy

 

  

 

Strengths

Reciprocal motivation, intellectual cross-pollination, mutual creativity, open innovation, co-innovation

Weaknesses

Under-inspiring environment: lack of inspirational leadership, community-wide inspiring culture, incentives.

Opportunities

Reinvigorate inspiration by conducting challenge-based energizing contests, like Innompic Games

Threats

Crisis-pressured marketplace tends to reject unusual and unproven creative solutions