MANAGING in the

NEW WORLD

Its been over a decade since the financial recession hit the USA and much of the world, towards the end of the last decade. Even now, severe economic imbalances remain which are pointing towards yet another devastating economic crisis. This has been highlighted in a new book recently released titled The Value of Everything: Making and Taking in the Global Economy. This has been penned down by noted business writer Mariano Mazzucato. She is the Founder and Director at the UCL Institute for Innovation and Public Purpose. In this book, she speaks about how there must be different metrics now used to gauge value. One such key pointer is how most of the financial sector is funding itself from only the FIRE model involving Finance, Insurance and Real Estate. Businesses should spend their earnings to invest in further research, corporate training and in production, rather than merely running their operations using stock market dividends. The next recession could be worse off thanks to the political stance now popular in several European countries as well as in USA. The concept of value extraction does no benefit to the ongoing discourse on further rising economic inequality.

Source:http://knowledge.wharton.upenn.edu/article/measure-economic-performance/

Uploaded Date:07 June 2019

In a business world where increasingly, data warehousing is proving to be of utmost importance, another area, a bit more traditional is also gaining much traction. That is the field of social science. A number of ideas associated with the social sciences are being translated in to businesses. Managers and architects must in fact take some tips from animal behaviour too. The field of risk tolerance too is being studied from the prism of the social sciences. Besides behavioral insights, the link between big data and social science, extends elsewhere too. The sheet scale of information now available is immense. Job seekers too can gain from the insights provided by social scientists, using data- backed information.

Source:https://www.strategy-business.com/blog/Social-sciences-lessons-for-business?gko=7dc4f

Uploaded Date:20 May 2019

About two decades back C.K. Prahalad created a then revolutionary idea, centred around the then four billion odd poor people. The bottom of the economic pyramid thus presented massive economic opportunities even back then. Aspirational products and technology could be peddled along with the basic goods of food and shelter. The wealth gap has only gone bigger with time now as per business intelligence provided by Credit Suisse. The idea of business as a force continues to be proposed, though cynicism among several business thinkers remains strong. Technology is paving the path for more inexpensive solutions. Goals too are changing thanks to this rapid change. Trust and community need to be placed as higher ideals above transactions. Some companies are being identified as one’s with higher purpose. Big data is allowing design to be done at far lower costs than before. Among the top global brands, we now have a healthy mix of economy and luxury. Social codes and norms are thus getting tweaked as well.

Source:https://www.strategy-business.com/article/The-New-Fortune-at-the-Bottom-of-the-Pyramid?gko=c5f11

Uploaded Date:20 May 2019

Alexander Graham Bell may have invented the telephone but he did not keep one in his office. He felt it was a distraction. He also says that while a lot of people lack the direction in life, often it is staring right at them, when they do not know of it. Bell had been a doer all his life, right from his earliest days in Scotland. He had developed smaller devices even before becoming an adult. Bell also had a business mind, as unlike other before him who had developed similar devices, he actually went out to get his invention protected using a patent. He also faced a number of law suits, all life. Bell’s business innovation actually lasted, eventually helped in ushering a revolution. He also worked closely with the great Thomas Watson, who would go on to establish IBM.

Source:https://inc42.com/resources/purpose-staring-face-says-man-invented-telephone/

Uploaded Date:20 May 2019

There are several reasons why cross- collaboration succeeds or fails. One catch that keeps emerging is the fact that while insisting on such collaboration, leaders tend to primarily highlight the processes and logistics. Individual departments often fall under the existential threat, as they need to grapple with the processes of another department or vertical. Departments instead focus on a sense of security to tide over this. A group identity and further legitimacy gets built around this. To minimize this resistance, one needs to reinforce the team identity. Leaders proficient at talent management, will control the power plays at these times. Territorial assertions and blocking behaviours tend to erode the control here. The leadership has to reassert this control. Each team and even leaders have their blind spots. These need to be understood before venturing out towards any collaborative initiative.

Source:https://hbr.org/2019/03/the-collaboration-blind-spot

Uploaded Date:20 MAY 2019

The future of work maybe unlike anything already seen. Team leaders compelled to reduce costs should not jump the gun and take sudden staff reduction costs as the hallmark, as this may cause adverse effects in the future. Too many initiatives taken though focus merely on effecting incremental gains, rather than towards changing the corporate strategy altogether. Changes in the future will primarily be in two forms. The first will be to see beyond cost as a driver towards organizational success. The other will be to shift the focus away from the company towards the workforce and their customers. A framework has been curated termed as the Future of Work Drivers that explores all such possibilities.

Source:https://sloanreview.mit.edu/article/reframing-the-future-of-work/

Uploaded Date:20 May 2019

Bill Gates has been proven correct two decades hence from 1996 when he made the remark that “Content is King”. Indeed, now the internet has become a global marketplace for content. Thus, marketers now need to be armed with Content Intelligence. It is the intersection between content strategy and artificial intelligence. This will help map each stage of the buyer journey to the digital marketing campaign. At the Awareness stage, will be videos, blog posts, infographics and social media will be included. Newsletters, whitepapers and webinars will be part of the Consideration stage while the Decision stage will comprise of case studies and demos. This will help the marketer know the right content for the respective audience. Marketing research firm Curata states that more than half of marketers connected with say distribution is top pain point in content marketing. Content intelligence can also help ascertain what platform’s content will need to be updated.

Source:https://www.searchenginejournal.com/atomic-reach-content-intelligence/295455/

Uploaded Date:15 May 2019

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