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BUSINESS 101: It's Not So 101 Anymore

from Harvard Business Review

The Technological Revolution has begun, upsetting the proverbial applecart created during the Industrial Revolution. In fact, a recent MIT survey of 1,000 CEOs from 131 countries and 27 industries, in organizations of varying sizes, found that nine of every ten chief executives "believe their businesses are being disrupted or reinvented by digital business models, and 70% believe they do not have the right skills, leader, or operating structure to adapt." What's a CEO to do? Rapidly adopt a fundamentally new management model comprising 23 new management practices, including "empowerment, experimentation, collaboration, data, and speed." The key to the concept is creation of small, empowered teams that rely on real-time information systems to support decision making. and they expect these teams to start small, iterate, experiment, and adapt. more

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