Will the intense focus on governance and compliance issues in the wake of major scandal somehow force many organizations to throw the innovation baby out with the bath water? It may inhibit a board’s ability to focus on risk taking and long term value creation. And once risk and innovation are removed from the board table, it will soon disappear from the rest of the organization as well. Read my latest article on this topic: (PDF)
Archives for May 2004
On Monday, I’ll be doing a keynote for a group of telecom executives.
The session is described as such:
“After 100 years, StarKist got rid of its tin-can, replacing it with a resealable plastic pouch. $200 million of new revenue later, they’ve realized the benefit of aggressive change. So it is with the telecom industry — it is now in the midst of the largest seismic shift to have ever occurred, as VoIP comes to dominate the agenda, the architecture, and the future. Noted futurist, innovation and trends expert Jim Carroll comes straight from presentations to the US National Rural Telecom Association, the Texas State Rural Telephone Coop, SaskTel and MTS with a key message — VoIP is real, it has momentum, and it’s not going away. It’s time to innovate and change, adapt and evolve as the very foundation of what you know as “telecom” becomes a tin can. Jim will cover the trends, the opportunities, the challenges and threats — and leave you well positioned to realize the vast dimensions of what we will be faced with through the next 5, 10, 15, 20 years … and beyond.”
More info on my telecom oriented keynotes here.
I’m keynoting the annual user conference for Handysoft today in Las Vegas. The focus is on “business process management” — that is, developing more efficient business processes in order to ensure survival in the real-time economy. Most organizations have a long way to go. HealthCare Financial Management Magazine estimates that it costs about $150 to process each health care supply order order, and that only 10-15% are electronic. Best’s Review, the bible of the insurance industry, estimates that some $59 billion is wasted each year on inefficient paper processes. The list goes on — there’s lot of opportunity, and lots of change yet to come to the economy.
“One of the more challenging issues that organizations will have to deal with in the next few years is how to successfully integrate “Gen-Y” into the workforce…….. there hasn’t been a lot of thought given as to how to successfully integrate this new and diverse age demographic into the workforce, an issue that is becoming more important with every passing day. The fact is, these kids are unique in more ways than one, and hence, forward thinking executives should take the time to learn how to take advantage of their uniqueness, and how to best manage and motivate them.”
I’m doing a talk on change this morning for an environmental government ministry — specifically, how to lead and manage change. One of the key points I will be getting across to them is that to successfully manage change, you must help people understand how relentless change will continue to be.
Some change results from rapid scientific advance — and in that context, consider the statistics I obtained from a chemical journal on the rapid evolution of knowledge/data in that field:
- “To be up-to-date in all areas of chemistry you would currently have to read about 2,000 new publications every day”
- “If you prefer to screen only the short abstracts, you must read 200 pages per day or about 70,000 pages per year.
- “Furthermore, since the number of chemistry publications increases also exponentially, you need to double your reading capacity within the next 15 years. “
- “You must read 20 publications every day in order to grasp only 1% of the overall chemical publications!”
The result of this rate of advance is an spiralling increase in the number of chemical substances:
- “…The number of known substances has been growing exponentially since 1800, from some hundreds then to about 19 million today….”
- “…. the number constantly doubles every 13 years….”
- 2025: 80 million substances
- 2050: 300 million
2100: 5 billion……