Join me today August 26th at 11:00 EST for another episode of Coffee Break with Game-Changers | VoiceAmerica™.
The buzz: Let’s get together, yeah yeah yeah! What does it really mean for you to have a connected business? Analysts estimate that by 2020, social networks will connect 2.5 billion people, the number of connected devices will total 75 billion, and the volume of global business trade between connected businesses will reach $65 trillion. As we move to an era of true hyperconnectivity in our digital economy, how can your company turn these challenges and your business networks into sustainable profitable opportunities? The experts speak. Dennison DeGregor, HP: “The digital CX revolution is dead – long live Digital Humanism!” Frank Diana, TCS: “The networked organization of the future knows that the lion’s share of value exists outside its walls; it looks to capture that value and bring it inside” (Dion Hinchcliffe). Drew Hofler, SAP: “We build too many walls and not enough bridges” (Sir Isaac Newton). Join us for Business Networks and the Digital Economy: Ready for Digital Humanism?
If you miss the live broadcast, follow the link later to listen to the podcast.
On a recent Radio Program focused on the future of business, Gray Scott introduced another future scenario. He called it the empowerment economy, and he described it this way:
He sees the past in three stages: 1) companies were in the business of providing supplies and core objects 2) we moved away from that to a convenience economy where we make it convenient for you to get what you need 3) now we are moving to the empowerment economy. It’s no longer about providing an object or convenience; it’s about giving them the power to supply themselves. Gray does not believe corporations understand this. Google and Uber get this circular idea of empowering people, which he believes is the future of business. The companies that embrace this empowerment economy are the companies that are going to succeed.
Those are his words direct from the radio program referenced above. So we add empowerment economy to the growing list of future scenarios. Thanks Gray.
I had the pleasure of joining SAP’s Coffee Break with Game Changers Radio Show on August 5th. This was my third appearance on the show, and I was joined by Futurist Gray Scott and SAP Global Innovation Evangelist Timo Elliott. The show titled “Emerging Paradigms and the Future of Business” was part two of a series that was expertly moderated by Bonnie D. Graham. Part one of the series was a discussion on Decentralization.
The show abstract: The pace and scale of change is hitting unprecedented levels. This presents unique challenges for the future of business. We’re seeing new and emerging paradigms, exciting innovations in energy, challenges due to resource scarcity, big implications for the climate and environment, an increasing blurring of physical and digital boundaries, growing business decentralization, exponential progression, and many more global drivers – all contributing to an uncertain future. Futurists worldwide, including our panellists, are examining these factors and assessing their potential business impact. Some of the critical questions to address:
- What factors will shape our future?
- What new leadership skills will be needed?
- How will leaders deal with challenges and implications outside of their base of experience?
I’m struggling with the term disruption and its effectiveness in driving urgency. Most definitions describe a radical change in an industry or business strategy, and most involve the introduction of a new product or service that creates a new market. My struggle is not with this decades old view of disruption, but its application in the context of our exponential world. The word disruption is viewed through a traditional lens. I end up in debates about the validity of a disruptive scenario as viewed through this lens, versus the massive implications of these future scenarios viewed through an exponential lens. The ensuing dialog focuses on:
- Coming up with disruptive innovation before our competitors do
- Embracing protectionist behavior to block a disruptor
- I’m not worried, regulatory hurdles in my industry block the impact of disruptors
- I’m safe, my industry is very stable
The pace of change is such that no forward looking visual can stay static for too long. I have therefore updated the anchor visual that looks at the digital platform, the innovation accelerators, and the disruptive scenarios that result from the convergence of societal progression, science, and technology. It is impossible to capture the current environment in one visual, but I hope what has been captured drives a clear message: there is a lot happening, on a rapid pace, and its convergent effects are multiplicative. There are several changes to the visual, and my thanks to the authors of The Future of Business for their inspiration:
To the readers of my Blog: a fascinating book titled The Future of Business was released last week. The lead Editor for the book was Rohit Talwar, CEO of Fast Future Research and Fast Future Publishing. This is a must read for anyone interested in where the world is going in the next 20 years, and its broad implications for individuals, society, business and government. From Mr. Talwar:
“The Future of Business is the first book in the FutureScapes series. The book focuses on the critical social and economic forces, business trends, disruptive technologies, breakthrough developments in science and new ideas that could reshape the commercial environment over the next two decades. It explores how these future factors could come together to force a fundamental rethinking of the purpose, strategy, business models, values and structures of organizations as they seek to survive and thrive in a rapidly changing reality.”
I highly recommend this book