Corporate America was designed and built in an age that is already long gone. The change happened so fast we didn’t have time to also change how we think.
Businesses today exist in a radically changing marketplace. In the blink of an eye you can go from being a winner to a loser. New pressures exerted by digital technologies, globalization, cultural diversity, and the sheer variety of available digital tools force companies to rethink everything they are doing – from advertising to product innovation to staffing.
The collective intelligence of crowdsourcing platforms are posed to change the way companies work.
The law industry is famously risk averse, not known for being cutting edge or embracing new technology. This is why I find the collaboration between the idea management platform Wazoku and the global law firm Allen & Overy (A&O) fascinating and encouraging.
We are in the midst of a radical revolution. While some call it the digital revolution it’s much bigger than that. For sure, digital technology is at the foundation of this revolution but it is only the catalyst to the change.
The story of the song Old Town Road is a preview of the new economy. The rapper, Lil Nas X, was throwing stuff up on Soundcloud that he’d recorded in the closet of his bedroom. He was going through YouTube listening to beats.
As a society, we’ve never had more access to information and share our opinions. And more, our brands have access to more data than ever before. Over the last few weeks I’ve seen a cultural shift in recognizing and being open to how we must evolve, use this in our favor and acknowledge that consumer driven co-creation is happening.
I’ve been thinking a lot lately about what hinders innovation, especially business model innovation from taking hold in agencies and brands. There’s always an immediate buzz or sometimes panic that breaks out when a new idea comes to the forefront of culture.
As a long time TED participant I always look forward to this time of year. TED provides a perspective on where the world is going. A week of thoughtful dialogue with some of the best thinkers in the world.
A couple of weeks ago I let you know about the launch of the Open Assembly Collective which, essentially is a community of CEOs, Harvard Scholars, and executive level leaders who are passionate about and share the common goal of changing the paradigm and mindset of how people work. Our focus is to co-create and build the foundation for the future of work.