QUESTIONS FROM THE WORLD BUSINESS FORUM 2009
Questions are so much more intriguing than answers!
We can’t create a new business model that will be effective in the 21st century, accounting for its unique set of challenges, by “thinking outside of the box”. It’s high time to obliterate the box! As long as the box continues to exist, some form of the current outdated business model that has changed little in the last 150 years, will remain. That was my biggest take-away from this year’s World Business Forum 2009 held in New York City last week.
The program was impeccably executed with a tremendous variety of speakers all with very timely messages. And, Radio City Music Hall . . . well, it’s just hard to beat. Rich in history and character and perfectly suited for this event. If you missed the conference this year, be sure and sign up for next year, World Business Forum 2010.
So how do you go about getting rid of the proverbial box? It is hard enough just to get people to think outside of the box, how can we possible get rid of the box? The reality is, that the box is the very thing that is holding us back. The box is a framework that is often hard to look past when it is staring you in the face. We are stuck in a business model born 150 years ago during the Industrial Revolution, and it simply no longer provides what is needed for businesses to continue to flourish. It felt to me as if the World Business Form was challenging us . . . challenging us to have enough courage to ask the following question, and the creativity to experiment with the answers.
Is there a better model for business success that provides an environment where creativity and connectivity flourish and capitalism can better align with the innate well being of humans such that its full potential can be realized?
Let’s explore a new era of capitalism and what a new and emerging business model might look like. One that focuses on alignment and the inherent values and desires of human beings to not only be economically successful but also to be compassionate, responsible, and create connections to others in the world. Through such alignment we will actually become better capitalists because we will have exploited its full potential. When we realize that not using known medical technology to vaccinate children in third world countries against life threatening diseases because they cannot afford to pay full price is actually a choice, and not a permanent side effect of capitalism, then we are free to make a different choice.
Traditional business must adapt or it will perish. It can either embrace the change and garner all the goodness that comes with it, or it can go down fighting. Either way, a shift is in the making, and the corporate world will never be the same. And do we really want it to be the same? In fact, we’ll discover how a change in our mindset about business and capitalism is precisely what is required for the next wave of growth.
Without these changes, the next cycle of growth will be more like a small hill rather than the mountain we all hope it will be. We can all do better and learn together, because the reality is that we are all locked into a global economy whether we like it or not. An increase in productivity may be the only way to grow in the future for many industries, and we are not going to get there by any of the traditional methods. In the past we have been able to rely on finding cheaper inputs, dramatic increases in consumerism, and population explosions. In the twenty-first century it will take engaging an otherwise half engaged workforce who is secretly longing for the inspiration to put the pedal to the medal. It will also require engaging your customers and the communities in which we all reside.
The world is made up of evolving societies. As the desires and dreams of the individuals that make up those societies change, so must the businesses and economic systems designed to meet them. At the moment there is a bit of a disconnect. It is no longer about more stuff, but about deeper, stronger, and even emotional connections. Population trends, the evolution of human psychology, and passing the peak of consumerism will dictate this new direction.
What will drive the next big movement in the world of capitalism? What will create the next wave of competitive advantage in the market place? What will the next Microsoft do better than everyone else? What seems awkward now but will seem a no-brainer 20 years from now? What will make going to work an adventure instead of a chore? What will expand capitalism such that its benefits are more than we can currently contemplate?
An obliteration of the BUSINESS BOX and THE POWER OF CONNECTION!
