Fascinating admission of the failings of the current generation of management in the Trust Economy by an HBS professor: "The idea of devising new rules for managers isn't just a casual thought or theoretical exercise for me. It's personal. That's because I spent a quarter-century as a professor at the Harvard Business School, including 15 years teaching in the MBA program. I have come to believe that much of what my colleagues and I taught has caused real suffering, suppressed wealth creation, destabilized the world economy, and accelerated the demise of the 20th century capitalism in which the U.S. played the leading role. We weren't stupid and we weren't evil. Nevertheless we managed to produce a generation of managers and business professionals that is deeply mistrusted and despised by a majority of people in our society and around the world. This is a terrible failure."
- David Lounsbury
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@gemadon Tell your mom we're glad to hear everything is OK!
This report goes a long way towards explaining the economic underpinnings of some of the shifts we've seen in business - the increase in services, personal entrepreneurship and the "person with the laptop". Be sure and check out the linked report from Deloitte for some key points: - U.S. competitive intensity has more than doubled during the last 40 years - While the performance of U.S. firms is deteriorating, at least some of the benefits of the productivity improvements appear to be captured by creative talent, which is experiencing greater growth in total compensation * Customers also appear to be gaining and using power as reflected in increasing customer disloyalty towards brands - The exponentially advancing price/performance capability of computing, storage, and bandwidth is driving an adoption rate for the digital infrastructure that is two to five times faster than previous infrastructures such as electricity and telephone networks
- David Lounsbury
@beantown17 Hope everybody on the SPY mission trip is enjoying their 1/2 day off in the Crescent City. Always order the Gumbo!