The Future of Corporations
The Recharge Magazine is still very much on sale. The theme of this first edition is Intrapreneurship and it’s been great so far. The company website has however chosen a bad time to be down, hence the best avenue for sending emails on interest now is to send to email@example.com.
One of the Lead articles in this edition covered the topic, the future of corporations. Companies are going to change in the near future, the way value is added will change and consequently the way work is done. New skills will be required from tomorrows business executives, a different approach to work will make some type of people in higher demand. Some of us are making concious efforts today to prepare ourselves and also others for these skills that will become so essential in the future. This edition is a must read for forward thinking employees. Here are some “sound” bites from the magazine.
[There have been many postulations about what business will look like in the future. Some of them are quite logical, and are simple progressions we can make looking at the way things are going today. It is not far fetched, that competition in the days ahead will get steeper – there will be bigger companies and there will be smaller ones, products as well as services are already becoming commoditized, this means the chances that what you offer is uniquely different is very low. The rate of change will increase, the planet will be more crowded, and except corporations move to a creative rather than competitive plain they will become extinct. Many forward looking companies are in agreement that one of the vital ingredients for sustainable company growth and existence in the future is creativity!]
[Another postulation says that what started in the wake of the 20th century as a product based economy i.e. industrial economy has given way to a service based economy. In other words, in the ancient past, you bought it because it was a good product, in the near past you bought it because the person who sold it delivered excellent service. In the near future, we are transiting from a service economy to an experience economy and from an experience economy into a transformation economy. Expressed differently, what will matter about your business/company tomorrow is the experience that they buyer has obtaining products or services from you, and in another few years what will vital is the transformation that is delivered. Business will migrate from product to service to customers becoming the product.]
[One of the key things that will change is the competencies that will be required to succeed as a company in the future. In a creative organization the skills that are required for success are much different from operating in a competitive environment. In a creative organization, innovation will gain value over technical mastery; risk taking will take value over management; networking will become more important that capacity and capability. Managers will be replaced by Intrapreneurs! ]
[A few of the competencies of an intrapreneur that makes him/her relevant to future business are as follows.
1. Creativity – Creativity has been so connected with entrepreneurship that many of the definitions of entrepreneurship assume that every entrepreneur must start something new. The entrepreneur typically looks for ways of consistently re-inventing itself and its business to…]
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