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SLIDE 11H Presentation of Content It’s not enough to have a great idea. Plenty of people have great ideas. The real challenge for an innovator is developing an idea into a fully operational and marketable product. In this lesson, you will walk in the a shoes of an innovator and entrepreneur along the path from idea to an actual, marketable product. You’ll observe how the massive system of commerce, including businesses and government agencies, interact to support innovation, and enable products and services to be developed, bought, sold, distributed, and profit to be made. Direct students to “Chemist Hit (by Idea!)” in Chapter 11 of the workbook. Read aloud. Chemist Hit (by Idea!) U.B. Smart Know-It-All readers are familiar with local chemical engineering whiz-kid Chris K. Mist. He‘s a frequent sight around town in his chartreuse running shorts and purple trainers. Chris is a U.B. Smart School alumnus who holds degrees in chemical engineering. He is into health and fitness. He eats right, works out, and stays fit. The Know-It-All recently caught up with Chris on one of his 10 mile runs, and he shared some exciting news. “Type 2 diabetes is a big health crisis in this country” said Chris, barely breaking a sweat at the 7 mile mark. “It’s making people very sick. In many cases it can be prevented by weight loss and exercise.” Chris told the Know-It-All that he is always thinking of ways to get people motivated to get up off the couch to workout. He confided that one day, as he was running and pondering that perplexing problem, BLAM! It hit him. Not a bus – an idea! Chris had an idea for a new product. “It’s an amazing pair of shoes with soles containing a new chemical process. When in motion, the soles of the shoes interact with the wearer’s metabolism, enabling the wearer to burn calories at twice the normal rate.” Chris said. “I call it HealnnHeels. It’ll be the next health phenomenon!” The first thing Chris did was create a journal with sketches and notes of his idea. A trusted friend signed and dated his journal entries. That created a record of his intellectual property, which would help prove ownership in the event the idea is stolen before he receives a patent. Chris’s idea is now in R&D. He’s invited young entrepreneurs, like you, to observe how his idea jumps from his brain, into the lab, moves through product development, and into the stream of commerce. Let’s take Chris up on his offer and tag along on HealnnHeels’ journey to success… PRODUCT PREVIEW 1. R & D. To get Chris's amazing idea out of his journal and into the real world as an actual, marketable product, he starts with the R&D process . (Recall that R&D means Research and Development, which are scientific and technological research and experiments made for the purpose of developing a new product, process, or service.) Chris appreciates that most successful innovation is the result of collaboration , so he adds Amir and Claire the design engineers to his innovation team. They are essential to the R&D process because, as design engineers, they have the expertise to create and refine detailed technical drawings and schematics, test and select materials, and develop a prototype to test and retest HealnnHeels in realistic situations.
193 THE 21st CENTURY STUDENT’S GUIDE TO FINANCIAL LITERACY
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