The article is intended to provide the backdrop for the 2014 Global Peter Drucker Forum in Vienna. It deals with the challenges and opportunities for management in the face of the gigantic changes that we are experiencing in our society. Technology is a game changer - yet it will lead down the wrong path if not accompanied the appreciation of the essence of what it means to be human. Humanist leaders must provide the context and grounding for a society that is in danger to become increasingly technology obsessed. Hence the call for a 2nd Renaissance.
Did we all around the globe sit down together and decide to follow Capitalism? Was Capitalism in the same form since beginning than now? In fact, it would be unrealistic to say that we decided to pick Capitalism. We just derived into it. And the concepts, forms and philosophy of Capitalism evolved over time.
.........................
Dr. Alan Greenspan, Lawrence
Summers from Harvard, Austan Goolgbee, US President’s Council of Economic Advisors are few of the thinks tanks attending the gathering (October 2011).
...................
How is then the New of Form of Capitalism going to shape like? If we recollect from the beginning paragraph, we notice, one of the major advantages of Capitalism was conceived to be “Less Control of Government over markets”. The New Capitalism is believed to start changing its current hue from this point.
............................
Why would Formative Capitalism would survive during recession and depressions? And why should we believe that to? The simplest reason is: because the performance of Formative Capitalists
isn’t just countercyclical, skyrocketing during the downturn and then collapsing.
MBA student writes sustainability thesis on Cranmore Foundation
Mr Charles V Towle, a graduate student at San Francisco State University has received a distinction for his thesis on sustainability and the work of Cranmore Foundation. Mr Towle’s thesis makes the case for the need for a new quality of thinking in addressing today’s complex global problems, which he describes as ‘wicked problems’. He explores emerging models of thought aimed at creating sustainability solutions such as the work of Michael Porter and Mark Kramer as well as Umair Haque. His thesis goes on to explore the premise of Cranmore Foundation’s work with wisdom traditions. Further he presents the conceptual outline of one wisdom model articulated by the foundation that supports sustainability.
The euro crisis has been extensively discussed in terms of economics, finance, political intrigues, and European Institutions, but a key aspect—the political economy of the crisis—has received little attention. Politicians and social scientists from emerging economies, especially Eastern Europe, look with amazement at this oversight.
Authored by: Anders Aslund
Published in 2011
Did we all around the globe sit down together and decide to follow Capitalism? Was Capitalism in the same form since beginning than now? In fact, it would be unrealistic to say that we decided to pick Capitalism. We just derived into it. And the concepts, forms and philosophy of Capitalism evolved over time.
.........................
Dr. Alan Greenspan, Lawrence
Summers from Harvard, Austan Goolgbee, US President’s Council of Economic Advisors are few of the thinks tanks attending the gathering (October 2011).
...................
How is then the New of Form of Capitalism going to shape like? If we recollect from the beginning paragraph, we notice, one of the major advantages of Capitalism was conceived to be “Less Control of Government over markets”. The New Capitalism is believed to start changing its current hue from this point.
............................
Why would Formative Capitalism would survive during recession and depressions? And why should we believe that to? The simplest reason is: because the performance of Formative Capitalists
isn’t just countercyclical, skyrocketing during the downturn and then collapsing.
MBA student writes sustainability thesis on Cranmore Foundation
Mr Charles V Towle, a graduate student at San Francisco State University has received a distinction for his thesis on sustainability and the work of Cranmore Foundation. Mr Towle’s thesis makes the case for the need for a new quality of thinking in addressing today’s complex global problems, which he describes as ‘wicked problems’. He explores emerging models of thought aimed at creating sustainability solutions such as the work of Michael Porter and Mark Kramer as well as Umair Haque. His thesis goes on to explore the premise of Cranmore Foundation’s work with wisdom traditions. Further he presents the conceptual outline of one wisdom model articulated by the foundation that supports sustainability.
The euro crisis has been extensively discussed in terms of economics, finance, political intrigues, and European Institutions, but a key aspect—the political economy of the crisis—has received little attention. Politicians and social scientists from emerging economies, especially Eastern Europe, look with amazement at this oversight.
Authored by: Anders Aslund
Published in 2011
Is cultural diversity one of the solution to recreate the global economy for ...KamelionWorld
Diversity of thinking (age, culture, education, personality, skills and life experiences) is most important in global business.
Learn how to read between the lines in the recent report: The new global mindset: globalization and the changing world of business published by Ernst & Young.
The Great Transformation - 33 Top Quotes from Global Peter Drucker Forum 2014Vladimir Vulic
The Global Peter Drucker Forum is an international management conference dedicated to the management philosophy of Peter Drucker. Drucker, who lived from 1909 to 2005, was a management professor, writer, and consultant, frequently referred to as a "management guru." The Forum is held annually in November, in Drucker's home town of Vienna, Austria and is put on by the Peter Drucker Society Europe, an affiliate of the Drucker Institute at Claremont Graduate University. (source: Wikipedia) The 6th Global Peter Drucker Forum was held on November 13-14, 2014 at the Hall of Sciences in Vienna. This is the selection of Top 33 Quotes from Global Peter Drucker Forum 2014.
Vladimir Vulic, November 2014
Uday salunkhe dynamic role of management in global economyudaysalunkhe
This article gives an in depth analysis on the Dynamic Role of Management in Global Economy. It has been co- authored by Dr. Uday Salunkhe, Director of the prestigious Welingkar Institute of Management and Research.
The biggest challenges facing the rich world today are persistent unemployment, widening income inequality, and accelerating climate change. Until now, most of the solutions to these problems have been politically unacceptable, in a world marked by short-termism and a desire for continuous economic growth.
In Reinventing Prosperity, Graeme Maxton and Jorgen Randers take a radically different approach and offer thirteen politically feasible proposals to improve our world. From shortening the work year and raising the retirement age to boosting welfare and redefining what we mean by work, the authors’ suggestions challenge many long-standing economic ideas and explain how it is possible to reduce unemployment, inequality, and the pace of climate change—and still have economic growth, if society wishes.
The biggest challenges facing the rich world today are persistent unemployment, widening income inequality, and accelerating climate change. Until now, most of the solutions to these problems have been politically unacceptable, in a world marked by short-termism and a desire for continuous economic growth.
In Reinventing Prosperity, Graeme Maxton and Jorgen Randers take a radically different approach and offer thirteen politically feasible proposals to improve our world. From shortening the work year and raising the retirement age to boosting welfare and redefining what we mean by work, the authors’ suggestions challenge many long-standing economic ideas and explain how it is possible to reduce unemployment, inequality, and the pace of climate change—and still have economic growth, if society wishes.
Strategic design and the climate crisisRaz Godelnik
The United Nations considers climate change as “the defining issue of our time”. Raz Godelnik, Assistant Professor of Strategic Design and Management hosts a webinar that will focus on the challenges and opportunities for strategic designers working in a business environment shaped and defined by the climate crisis.
The death of aspiration the end of work and the emergent culture of middle ...Ged Mirfin
A paper which addresses the issue of how middle class aspirations are being thwarted by the impact of technology on work. It draws on the work of Edward Luttwak (Turbo Capitalism), Jeremy Rifkin (the End of Work thesis); John Kenneth Galbraith (the Culture of Contentment) and Robert D. Putnam (Social Capital). It address the central paradox that the middle classes are being attracted to anti-status quo populist political movements at one and the same time as favouring statsus quo communitarian politics. It concludes by arguing that the nature of politics and political parties will change fundamentally with the emergence of a new form of factionalised based caucus politics which will be much more localised in nature. It suggests that this will lead to tensions within sub-regional Combined Authorities in the UK.
Today’s economic and political upheavals reflect an ongoing misalignment between business and economies (on the one hand) and acceptable societal outcomes (on the other). There is still time to adjust, if we are willing to reexamine some long-held assumptions.
Management has served us well. Since the Industrial Revolution it has paved the way for a sustained and accelerating rise in living standards unheard of and unforeseen. But with the ‘digital revolution’, we are entering
a new era where the logic of industrial-age organisation has lost its purchase.
Is cultural diversity one of the solution to recreate the global economy for ...KamelionWorld
Diversity of thinking (age, culture, education, personality, skills and life experiences) is most important in global business.
Learn how to read between the lines in the recent report: The new global mindset: globalization and the changing world of business published by Ernst & Young.
The Great Transformation - 33 Top Quotes from Global Peter Drucker Forum 2014Vladimir Vulic
The Global Peter Drucker Forum is an international management conference dedicated to the management philosophy of Peter Drucker. Drucker, who lived from 1909 to 2005, was a management professor, writer, and consultant, frequently referred to as a "management guru." The Forum is held annually in November, in Drucker's home town of Vienna, Austria and is put on by the Peter Drucker Society Europe, an affiliate of the Drucker Institute at Claremont Graduate University. (source: Wikipedia) The 6th Global Peter Drucker Forum was held on November 13-14, 2014 at the Hall of Sciences in Vienna. This is the selection of Top 33 Quotes from Global Peter Drucker Forum 2014.
Vladimir Vulic, November 2014
Uday salunkhe dynamic role of management in global economyudaysalunkhe
This article gives an in depth analysis on the Dynamic Role of Management in Global Economy. It has been co- authored by Dr. Uday Salunkhe, Director of the prestigious Welingkar Institute of Management and Research.
The biggest challenges facing the rich world today are persistent unemployment, widening income inequality, and accelerating climate change. Until now, most of the solutions to these problems have been politically unacceptable, in a world marked by short-termism and a desire for continuous economic growth.
In Reinventing Prosperity, Graeme Maxton and Jorgen Randers take a radically different approach and offer thirteen politically feasible proposals to improve our world. From shortening the work year and raising the retirement age to boosting welfare and redefining what we mean by work, the authors’ suggestions challenge many long-standing economic ideas and explain how it is possible to reduce unemployment, inequality, and the pace of climate change—and still have economic growth, if society wishes.
The biggest challenges facing the rich world today are persistent unemployment, widening income inequality, and accelerating climate change. Until now, most of the solutions to these problems have been politically unacceptable, in a world marked by short-termism and a desire for continuous economic growth.
In Reinventing Prosperity, Graeme Maxton and Jorgen Randers take a radically different approach and offer thirteen politically feasible proposals to improve our world. From shortening the work year and raising the retirement age to boosting welfare and redefining what we mean by work, the authors’ suggestions challenge many long-standing economic ideas and explain how it is possible to reduce unemployment, inequality, and the pace of climate change—and still have economic growth, if society wishes.
Strategic design and the climate crisisRaz Godelnik
The United Nations considers climate change as “the defining issue of our time”. Raz Godelnik, Assistant Professor of Strategic Design and Management hosts a webinar that will focus on the challenges and opportunities for strategic designers working in a business environment shaped and defined by the climate crisis.
The death of aspiration the end of work and the emergent culture of middle ...Ged Mirfin
A paper which addresses the issue of how middle class aspirations are being thwarted by the impact of technology on work. It draws on the work of Edward Luttwak (Turbo Capitalism), Jeremy Rifkin (the End of Work thesis); John Kenneth Galbraith (the Culture of Contentment) and Robert D. Putnam (Social Capital). It address the central paradox that the middle classes are being attracted to anti-status quo populist political movements at one and the same time as favouring statsus quo communitarian politics. It concludes by arguing that the nature of politics and political parties will change fundamentally with the emergence of a new form of factionalised based caucus politics which will be much more localised in nature. It suggests that this will lead to tensions within sub-regional Combined Authorities in the UK.
Today’s economic and political upheavals reflect an ongoing misalignment between business and economies (on the one hand) and acceptable societal outcomes (on the other). There is still time to adjust, if we are willing to reexamine some long-held assumptions.
Management has served us well. Since the Industrial Revolution it has paved the way for a sustained and accelerating rise in living standards unheard of and unforeseen. But with the ‘digital revolution’, we are entering
a new era where the logic of industrial-age organisation has lost its purchase.
Etude RSM International sur la création d'entreprise 2013Société Tripalio
Cette étude analyse le processus de création d'entreprises dans différents pays industrialisés et en donne une estimation statistique. La France est réputé le pays le plus dynamique en créations d'entreprise
Disruptive trends shaping the business landscape Singapore - 21 Aug 2019Future Agenda
Future Business Trends
How will global trends disrupt business in the next decade?
Ahead of the first of three speeches / workshops in Singapore over the next few months, this is an overview of some of the key potential drivers of change for businesses.
After some up-front context on foresight it addresses four major area of potential disruption
• The Future Consumer
• Purpose of the Company
• Digital Business
• Future Organisation
If you would like more detail on any of these issues or to know more about the workshops, do not hesitate to get in touch.
2018 human trends rise of the social enterpriseVALUES & SENSE
The 2018 Deloitte Global Human Capital Trends report showcases a profound shift facing business leaders worldwide: The rapid rise of what we call the social enterprise. This shift reflects the growing importance of social capital in shaping an organization’s purpose, guiding its relationships with stakeholders, and influencing its ultimate success or failure.
We extracted the information stored in our head and laid it on papers. 23 slides to grasp the Systemic Economy model with its 2 cornerstones: Stakeholders ecosystem and 7D-Value(c).
Two very powerful concepts (ie. and tools) to create more value in your business or company, to survive or to grow.
Pointless to say that one of the purpose is to expand the company's playfield and place it in best position to cover more grounds than competitors.
Abstract: Fortune telling may not be so difficult for someone who understands current global trends. This paper attempts to predict the future of management by considering the context of leadership, organizational trends, and its effects on the domestic labour market. The paper assumes an increase in government interventions across the globe to protect the domestic markets, emphasizing the circumstances of China and the United States of America. The paper further discusses two futuristic leadership models; the global leadership model and evolutionary-based management models then sets out two possible scenarios of future organizations and concludes by highlighting the necessary characteristics of the future manager.
Olumide Adedeji Ibikunle - The 2016 Peter Drucker ChallengeOlumide Ibikunle
Article addresses the relevance and contributions of 'New Entrepreneurs' to Business and Modern Society. My entry for the 2016 Peter F. Drucker Challenge.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
Skye Residences | Extended Stay Residences Near Toronto Airportmarketingjdass
Experience unparalleled EXTENDED STAY and comfort at Skye Residences located just minutes from Toronto Airport. Discover sophisticated accommodations tailored for discerning travelers.
Website Link :
https://skyeresidences.com/
https://skyeresidences.com/about-us/
https://skyeresidences.com/gallery/
https://skyeresidences.com/rooms/
https://skyeresidences.com/near-by-attractions/
https://skyeresidences.com/commute/
https://skyeresidences.com/contact/
https://skyeresidences.com/queen-suite-with-sofa-bed/
https://skyeresidences.com/queen-suite-with-sofa-bed-and-balcony/
https://skyeresidences.com/queen-suite-with-sofa-bed-accessible/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-king-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed-accessible/
#Skye Residences Etobicoke, #Skye Residences Near Toronto Airport, #Skye Residences Toronto, #Skye Hotel Toronto, #Skye Hotel Near Toronto Airport, #Hotel Near Toronto Airport, #Near Toronto Airport Accommodation, #Suites Near Toronto Airport, #Etobicoke Suites Near Airport, #Hotel Near Toronto Pearson International Airport, #Toronto Airport Suite Rentals, #Pearson Airport Hotel Suites
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
The Great Transformation - Lead Article for 2014 Drucker Forum by Richard Straub
1. EFMD Global Focus: Volume 08 Issue 02 | 2014 1The Great Transformation by Richard Straub
We are at the beginning of a set of gigantic changes in society –
for better or for worse. The future is open; nobody knows what
it will hold. One thing we know says Richard Straub: on this
stage, managers will surely be of pivotal importance for shaping it
2. 2 www.efmd.org/globalfocus
The conditions that lead to
revolution in the first place are
typically oppressive leadership,
the bankruptcy of ideas and
institutions and, above all, a
failure by society to renew itself
I
n his landmark book Innovation and
Entrepreneurship, Peter Drucker quotes
Thomas Jefferson: “Every generation needs
a new revolution.” But Drucker quickly makes
clear that, as much as he admires Jefferson, this
particular comment is off the mark.
In truth, Drucker notes, most of the revolutions that
we have witnessed in recent history failed to deliver
on what they had promised. As Alexis de Tocqueville,
the French philosopher and political theorist, pointed
out, revolutions do not demolish the prisons of the
old regime; they tend to enlarge them.
The conditions that lead to revolution in the
first place are typically oppressive leadership, the
bankruptcy of ideas and institutions and, above
all, a failure by society to renew itself. Achieving
large-scale social change without going through
the upheaval of a violent revolution is obviously
the better option. The term “transformation” well
describes this preferable path.
Hence, a key question that faces us today is whether
we have the regenerating capacity in the Western
world to achieve a transformation for regaining
growth and prosperity as opposed to moving
inexorably toward social and economic decline
– and, quite possibly, facing the wrenching trauma
of a citizens’ revolt along the way.
Dangerous trends
Evidence of the need for change is strong. A number
of factors have converged to make the picture
especially daunting. Taken together, they indicate
that we are heading towards decline rather than
prosperity:
• Economic stagnation and financial instability
Even though some indicators have improved since
the global financial meltdown of 2007/2008, the
structural problems that are bogging down our
economies are by no means resolved. American
economist Larry Summers talked in a recent
interview about the probability of secular stagnation
as a “base case” for decision makers. In addition
the debt crisis in developed economies severely
limits the ability of governments to provide further
stimulus.
• Growing income inequality
The French economist and academic Thomas
Piketty argues in his much-discussed book, Capital
in the 21st Century, that capital has essentially won in
a fight over labour. With returns on capital growing
faster than the economy overall, the share of capital
is increasing at the expense of labour, resulting in
widening income disparities. Piketty’s profound
fact-based analysis points to a long-term trend.
Henry Mintzberg, a leading management thinker,
comes to a similar conclusion when he analyses
the imbalance in our society in his recent online
pamphlet Rebalancing Society.
• Unemployment and underemployment
Unemployment and underemployment are at
stubbornly high levels. Youth unemployment
remains a huge concern. Some Western trade
unions make things worse by opposing flexibility
within labour markets (though Drucker, for one,
believed that unions represent an important
“countervailing power” to that of large corporations
and thus “modern society... needs an organ such as
the labour union”).
• An ageing population in Western countries
combined with low birth rates
One billion people around the globe, demographers
tell us, will be above the age of 65 by 2035. At
the same time, falling birth rates in developed
economies have meant a decline in the number
of people who can support this older population.
The implications for funding retirement and social
protection systems are striking. The financial
burden for those in the workforce is on a course
to becoming unbearable.
• Untamed Leviathan
The state almost everywhere is big, inefficient
and broke, Economist editor John Micklethwaite
remarked in 2011. Since then, things have only
got worse. With a suffocating bureaucracy, the
state too often deprives advanced economies of
the oxygen they need for innovation and growth.
3. EFMD Global Focus: Volume 08 Issue 02 | 2014 3
• Increasing corporate autism
Since the 1980s, corporations have increasingly set
aside concerns for a broader set of stakeholders –
customers, employees and communities – in favour
of the supposed interests of shareholders. This trend
has accelerated after the financial crisis and led to a
significant reduction in value-creating investments
with a long-term horizon.
Will these steadily worsening trends be tomorrow’s
reality or do we still have an opportunity to shape a
better future? How to escape the vicious cycle we
seem to be caught in?
Obviously, levers need to be pulled at both the
macro and the micro levels.
At the macro level, monetary and fiscal policy,
labour markets, social security, tax regimes
and rules governing competition all need to
be addressed. Policymakers should be focused
on removing obstacles and creating incentives
in the right direction.
This approach can be summarised, at least in part,
as “Management by Getting Out of the Way,” which
means refocusing regulations in fields where they
are essential and otherwise enabling productive
forces to act without artificial and counterproductive
burdens.
The micro level is, of course, the heart of
management – where actual value is created
and destroyed. It is where specific decisions are
taken that lead into world-changing innovations
or a waste of productive resources.
Before growth figures for a country are
calculated, the actual growth happens in
individual organisations that are successfully
“managed”. While politicians and other experts
are obsessed with aggregations and ratios, they
tend to forget that the action happens in real life
and not in the abstractions of economics.
Management is a real-world practice dealing with
people and organisations. Managers can make all
the difference in the world with their knowledge,
their creativity, their emotions and their values.
Management, in this broad (and very Druckerian)
sense includes commercial players, non-profit
organisations and public-sector bodies. Each has the
mandate to create value and to achieve its mission.
Management, the American author and journalist
Walter Kiechel wrote in Harvard Business Review,
has come to “shape the world in which we work”
amid “an era of global triumph, measured by
agreement on certain key ideas, steadily improving
productivity, the worldwide march of the MBA
degree and a general elevation of expectations
about how workers should be treated”.
The Great Transformation by Richard Straub
Drucker was a key figure in the rise of management
as a discipline. He “laid out a vision of the corporation
as a social institution – indeed, a social network –
in which the capacity and potential of everyone
involved were to be respected,” Kiechel asserted.
Management – a track record with big
question marks
Once we accept the importance of good
management for the economic and social well-
being of today’s world, it is legitimate to ask a critical
question: are managers equipped – in terms of skills,
competencies and courage – to lead us towards the
Great Transformation?
We have indeed learned a lot about management.
It has become a focus of education, research
and practice. Great thinking has gone into the
development of the discipline of management,
into tools and methodologies and, increasingly,
into specialised fields such as marketing, operations,
finance and human resources.
Thousands of books proclaim the latest
breakthroughs and show the progress of
management thinking and research. For example,
Julian Birkinshaw, a professor at London Business
School in the UK, suggests in his book Reinventing
Management four main dimensions along which
management has been steadily, if slowly, evolving:
(1) co-ordinating work with a shift from bureaucracy
to emergent practices
(2) making decisions by drawing on collective
wisdom
(3) setting objectives that rely on the principle
of obliquity rather than direct alignment
(4) motivating employees by intrinsic rather
than extrinsic methods
65One billion people
around the globe,
demographers tell
us, will be above the
age of 65 by 2035
High-profile projects such as
the German energy transition
(Energiewende) show deep
management flaws ranging from
strategy to execution. Everyday
projects, which do not typically
capture the headlines, are also
mismanaged
4. 4 www.efmd.org/globalfocus
Yet a reality check shows that, despite considerable
progress in making management more effective,
many fundamental challenges remain. Bureaucratic
hierarchies, in the form of control-oriented,
top-down structures, are still highly prevalent.
In his book What Matters Now, American
management thinker Gary Hamel argues that
innovation, particularly disruptive innovation, is
unlikely to flourish when a few executives have
a chokehold on resource allocation.
The overwhelming internal complexity of large
organisations causes a tendency to focus internally
rather than taking the outside-in perspective.
This brings a loss of customer focus and, as a
consequence, more energy is spent on resolving
internal issues rather than finding new ways of
delighting customers.
The overemphasis on short-term gains at the
expense of long-term prosperity has become the
new normal despite its negative consequences.
A recent McKinsey survey of 1,000 corporate board
members and C-suite executives found that 63%
of respondents claim that the pressure to generate
strong short-term results has increased over the
past five years. This was despite the fact that 86%
declared that using a longer time horizon to make
business decisions would positively affect corporate
performance in a number of ways, including
strengthening financial returns and increasing
innovation.
Regrettably the shareholder value creed still has
a tight grip on corporate executives and their
governance.
And when one looks behind the gadgetry of
corporate finance, the results are not nearly
so impressive. The rates of return on assets and
on invested capital of US firms in 2011 was only
one-quarter of what they were in 1965. And the
effectiveness of management to win the hearts and
minds of the workforce is even worse. According to
the latest global Gallup State of the Global Workplace
survey only 13% of employees are engaged in their
jobs. That is, they are emotionally invested in and
focused on creating value for the organisation every
day. They are outnumbered by those who are
negative and potentially hostile to the organisation
at a rate of nearly 2:1.
Clayton Christensen, an HBS professor and
recognised as number one Management Thinker
in the Thinkers50 ranking, has maintained that
management’s misallocation of capital is putting
capitalism itself at risk.
Management is a real-world
practice dealing with people
and organisations. Managers
can make all the difference
in the world with their
knowledge, their creativity,
their emotions and their values
5. EFMD Global Focus: Volume 08 Issue 02 | 2014 5
With a constant drive to achieve short-term cost
reductions, most corporate innovations have centred
on improving efficiency. Yet the capital freed up by
increasing efficiencies is not being used to generate
what Christensen calls “empowering innovations”,
which would create new business or even whole
new industries, spurring growth and jobs.
Instead, corporations are hoarding cash on their
balance sheets like never before and some of
the capital generated by efficiency innovation is
reinvested in even more efficiency innovation.
The picture is not rosy, either, in the
management of mega-scale initiatives initiated
by political decisions. Government leaders may
be good at communication and managing the
pure political process. However, when it comes
to execution and the ultimate value creation for
the citizens, things easily get out of control.
High-profile projects such as the German energy
transition (Energiewende) show deep management
flaws ranging from strategy to execution. Everyday
projects, which do not typically capture the
headlines, are also mismanaged.
A recent report in the US, for example, found that
the federal government has 77,000 empty or
underutilised buildings across the country, costing
taxpayers more than $1.5 billion a year.
Such troubles may be related to the fact that
those in the political class have not yet embraced
management skills as a success factor for their
political careers. Yet the damage that flawed
management of such initiatives can produce is huge.
To sum up, the overall track record of management
effectiveness and leadership is rather mixed. But
there are enough bright spots to give us confidence
that managers can still form the basis upon which
we forge the Great Transformation.
The Great Transformation for the better
is within our reach
It is an exceptional moment in history. We are at
the beginning of a set of gigantic changes in society
– for better or for worse. The future is open; nobody
knows what it will hold.
However, it is not destiny. Myriad actors will shape
the future and some of them will have more impact
than others. One thing we know: on this stage,
managers will surely be of pivotal importance.
“Management and managers are the central
resource, the generic, distinctive, the constitutive
organ of society... and the very survival of society is
dependent on the performance, the competence,
the earnestness and the values of their managers,”
Drucker wrote in his 1993 book The Ecological
Vision. “What managers are doing is therefore
a public concern”.
The Great Transformation by Richard Straub
63%A recent McKinsey
survey of 1,000
corporate board
members and C-suite
executives found that
63% of respondents
claim that the pressure
to generate strong
short-term results
has increased over
the past five years
Pictured clockwise
from left:
Clay Christensen
Gary Hamel
Roger Martin
John Hagel III
This seems to be the moment to take Drucker’s
statement seriously, to live up to our responsibility
as managers and leaders. To do so will require
courageous and decisive action.
The Great Transformation starts with revisiting the
fundamental commitment of managers towards
society – namely, innovation and value creation.
Of course, done well, this is also good for the
company and its bottom line over the long term.
Failing to invest in innovation means putting the
future of the whole organisation at risk. No company
that goes out of business can be a good neighbour,
good employer and a good citizen. Even worse –
by failing to keep its business viable it creates
significant damage due to the human suffering it
causes and the need to kick-in social programs at
the expense of society.
At the same time, it cannot be acceptable that CEOs
continue to earn 300 times or more the income of
their average employee. Trust must be rebuilt.
From scalable efficiency to scalable learning
Despite great new management ideas and concepts,
the issue of scalability and broad-based application
of innovative management practices is far from
resolved. Instead of liberating the creative and
innovative energy of employees as well as those of
supply-chain partners and others who are part of a
corporation’s overall ecosystem, blind processes and
rigid hierarchies still hold them down.
In effect, the emergence of a Taylorism of a sort in
non manufacturing business operations has been
enabled by digital technology. However, we can
do much better than that…
John Hagel III and John Seely Brown (Co-Chairmen
of the Deloitte Centre for the Edge and authors) have
described the shift toward a massive transformation
from institutions designed for scalable efficiency to
institutions designed for scalable learning.
This relates not so much to formal, classroom-based
learning but learning from the ongoing experiences,
projects and initiatives that are occurring in various
parts of an organisation. The key is to foster learning
by connecting minds for value creation and
knowledge sharing for innovation across the
organisation. Enterprise social media along with
traditional means of communication provide
a new infrastructure for scalable learning.
Towards a human-centric paradigm
Digital technology is an unprecedented game
changer due to its continuous exponential
development. As such, it can lead either further down
the efficiency-enhancing and cost-cutting route
or up the innovation path. It can replace brawn via
robotics or augment brains with artificial intelligence.
6. 6 www.efmd.org/globalfocus
A Second Renaissance?
In a time where technologists and technocrats
dominate much of the conversation, the rediscovery
of the essence of being human is more important
than ever. Indeed, in order to benefit from what
MIT’s Erik Brynjolfsson and Andrew McAfee have
dubbed “the Second Machine Age,” we also need
a Second Renaissance powered by humanities and
knowledge across disciplines as posited by Drucker.
Otherwise we run the risk of ending up in a
technocracy, where technology becomes the
new faith and the top technocrats are the new
masters who determine the fate of those subject
to their technology-driven world. What financial
technocrats might do in such a world does not
need further comment.
Equally, the Transhumanists and Kurzweills
Singularity adepts seem to have lost the connection
to the roots of human existence and uniqueness.
When Roger L Martin, former dean of Rotman
School of Management in Toronto, Canada, talks
in his book The Design of Business about the
knowledge funnel and shows the progress from
mystery to heuristics and then to algorithms he
does not imply that the world is going algorithmic.
As scientific progress has demonstrated – each
new discovery and each new algorithm opens
up new mysteries. The deeper we drill the more
mysteries we seem to unlock.
A Tsunami of Innovation
Done right, a new marriage between the human
spirit and the most powerful technology that
humanity has ever developed (and that is still in
the early stages of deployment) could produce
truly incredible results. Just think about the
unbelievable waste that is created in today’s
organisation in terms of people’s ideas, creativity,
motivation and engagement.
Releasing just 10% of this latent value would mean a
jump in innovation, value creation –and, in turn, the
world’s prosperity. Gallup estimates that the actively
disengaged workers in the US alone cost the
economy haf a trillion dollars each year.
With a human-centric approach, serviced by the
best that technology has to offer and supported
by smarter government policies and regulations,
our organisations can create new infrastructures
enabling knowledge, communication and
collaboration. And we can trigger a tsunami
of innovation and value creation.
Luckily we can see already today cases that show
the tremendous potential for achieving massive
and deep transformation in short time-spans.
1.2bn
A project aimed at
providing a fake-proof
ID to each of the 1.2
billion people who
reside in India, saw
within five years after
its inception 650
million people
enrolled for the unique
online-authenticated
Aadhaar biometric ID
And many organisations will undoubtedly be
tempted to use technology to replace human
beings wherever and whenever possible. But this
would be a terrible mistake, leading to a certain
downward spiral for both society and economy.
Instead, the emphasis should be on educating
and empowering workers so they can leverage
new technologies, while it is understood that
technology is always meant to serve people and
enhance their capabilities.
The leader of a prominent gaming company put it
to me this way: the primary task of management in
his organisation is to eliminate obstacles and provide
tools for his workers so that they can improve
their access to knowledge and collaborate across
functions and even beyond the company’s walls.
Great talent engaged in organisations will make
the difference between stagnation and growth.
Attracting and developing talent will be the basis
for competitiveness of companies, regions and
states. Focusing on people and leveraging their
strengths for the organisation remains a fundamental
management responsibility, despite all the great
technology that becomes increasingly available
to our fingertips.
Management as a Liberal Art
For this kind of vision to be realised, the humanists
must be given prominence alongside the
technologists. The grossly reductionist idea that
almost any expert can be replaced by an “expert
system” does not take into account profound
human capabilities like intuition, creativity and
empathy. It is also naïve to assume that knowledge
is objective and in a way disconnected from the
human condition; in fact, it is largely determined
by the values of those producing and applying it.
Drucker had this in mind when he called
management a liberal art: it is “liberal”, he explained,
because it deals with the fundamentals of
knowledge, self-knowledge, wisdom and leadership;
“art” because it is practice and application.
Managers draw upon all of the knowledges and
insights of the humanities and social sciences on
psychology and philosophy, on economics and
history, on the physical sciences and ethics. But they
have to focus this knowledge on effectiveness
and results.
This is something that management education
institutions should seriously consider if they do not
want to become ever-more specialised engineering-
type schools for management techniques.
2:1Only 13% of employees
are engaged in their
jobs – every day
emotionally invested
in and focused on
creating value for the
organisation. They are
outnumbered by those
who are negative and
potentially hostile to
the organisation at
a rate of nearly 2:1
7. EFMD Global Focus: Volume 08 Issue 02 | 2014 7
India’s Aadhaar project led by former Infosys CEO
Nandan Nilekani is such an example: a project
aimed at providing a fake-proof ID to each of the
1.2 billion people who reside in India. Five years after
its inception 650 million people have enrolled for
the unique online-authenticated Aadhaar biometric
ID, potentially giving access to social benefits, bank
services and the labour market.
The implications are enormous – for India and
potentially the whole developing world. It is the
classic example of advanced technology serving
fundamental human needs (500 million Indians
live below the poverty line). It also shows how the
application of sound management practice can
bring the two streams together – leading-edge
technology and the deep commitment to improving
the human condition.
In transition towards the Great Transformation
The Great Transformation will not happen overnight.
However, we are already in a state of transition
where sound, existing management knowledge can
be applied. We find a lot of this in the legacy of
great management thinkers whose ideas are
based on a human-centric worldview: Peter
Drucker, Henry Mintzberg, Charles Handy and
CK Parahald among them.
Based on these foundations, many new concepts
and methods are being introduced that fit our time
even more precisely.
We don’t know what the future will be. But we can
determine the direction in which we want to go. We
can, that is, take purposeful steps toward the Great
Transformation, creating a world that embraces
technology but that keeps the human being at
its core, conscious of our culture, our history, our
spirituality and our unending quest for self-realisation.
With a human-centric approach, serviced by the best
that technology has to offer and supported by smarter
government policies and regulations, our organisations
can create new infrastructures enabling knowledge,
communication and collaboration
FURTHER INFORMATION
The Great Transformation will be the theme of the 6th Global Peter
Drucker Forum to be held in Vienna from November 13 to 14, 2014.
ABOUT THE AUTHOR
Richard Straub is Director of Corporate Services and EU Affairs at EFMD
and President of the Peter Drucker Society Europe.
10%In terms of people’s
ideas, creativity,
motivation and
engagement, releasing
just 10% of this latent
value would mean
a jump in innovation,
value creation –
and, in turn, the
world’s prosperity
The Great Transformation by Richard Straub
8. 8 www.efmd.org/globalfocus
13I14 NOV.Hall of Sciences
Aula der WissenschaftenVIENNA
www.druckerforum.org
Clayton Christensen, Professor of Business Administration at Harvard Business School
Steve Denning, Member of the Board of Directors Scrum Alliance, Forbes contributor
Yves Doz, Professor of Technological Innovation at INSEAD
Pankaj Ghemawat, Professor of Strategic Management at IESE Business School
John Hagel III, Director Deloitte Consulting LLP, Co-Chairman Deloitte Center for the Edge
Gary Hamel, Management expert, Consultant, MIX Co-founder and Professor at London Business School
Jeff Hoffman, Serial entrepreneur, Co-founder of priceline.com
Herminia Ibarra, Professor of Leadership and Learning and Professor of Organisational Behaviour at INSEAD
Adi Ignatius, Editor-in-chief, Harvard Business Review
Roger L. Martin, Academic Director, Martin Prosperity Institute, Rotman School of Management
Nilofer Merchant, Writer
Marc Merrill, President Co-founder of Riot Games
Vineet Nayar, Vice Chairman of HCL Technologies
Martin Wolf, Chief Economics Commentator, the Financial Times
MANAGING OUR WAY TO PROSPERITY