Steve Denning is a wonderful, prolific writer and speaker. I was just reading his recent piece, Capitalism’s Future is Already Here, a Harvard Business Review blog post. A good read. Below is the part I think we really need to pay attention to:
“The other economy—the Creative Economy—is an economy of continuous innovation and transformation. This is the economy of firms and entrepreneurs that are delivering to customers what they are coming to expect, namely, “better, faster, cheaper, smaller, lighter, more convenient, and more personalized.” The Creative Economy is still relatively small but it is growing rapidly and, when implemented well, is highly profitable. It is the economy of the future. It doesn’t have to be invented: it’s already under way. Its practices represent a paradigm shift in the strict sense laid down by Thomas Kuhn: it’s a different way of thinking, speaking, and acting in the world.
The shift from the Traditional Economy to the Creative Economy isn’t just a technical wrangle about economics or management theory. It’s a shift in what society demands of the managers of its most powerful institutions: from narrow definitions of their owners and decisions that serve their short-term interests, to broad acceptance of the responsibility that comes with power and leadership concerned with what is best for society. In the shift, we are learning that an argument about the proper activities of managers can be logical, can be strongly argued, can influence decades of practice in the world’s largest corporations – and can still be plain, flat, dead wrong.”
Perfect timing for an event the University of Toronto iSchool is planning — Building an Engaged Flat Army for Libraries — which discusses building startup or entrepreneurial thinking, looks at new organizational structures for creating “continuous innovation and transformation” as Denning calls it, building competencies for the future, fostering collaborative cultures, sparking innovative cultures and practices, and lots more! Join the conversation on November 13-14 and get a jump on creating culture of continuous innovation & transformation.