Videos with Keith Coats
Economic transition in to connection
Author: Keith Coats, James Kirk (yBC.tv)Categories: Competitive Advantage, connection revolution
Tags: Frederick Taylor, Ralph Jenson
Economic transition from the industrial revolution to a connection economy is the topic of this business TV Show with Keith Coats.
Economic transition though technology
Ralph Jenson talks about various economies through which we’ve transitioned, it’s a very general, very broad framework but it’s really good to help us understand our current context, ‘cause leadership is always context-specific. So, very quickly, he talks about the hunter-gatherer era, it was an economy in which there was competitive advantage that was forged through a sense of focus.
The interesting thing in the story is that technology is the disruption, so technology changes the rules of the game. In this particular case the technology that did that, the plough, the ability to harness animals, so we moved into the agrarian society. From there we moved into the industrial era. So each of these are economies in which we look at what created a competitive advantage.
The industrial era is interesting because competitive advantage in this particular set of circumstances was created through business efficiencies, that’s where the science of management was birthed. Frederick Taylor and others – if you can’t measure it, you can’t manage it. If it isn’t broken, don’t fix it. So the legacy of that era remains today.
I still meet companies and leaders who think that their competitive advantage will be forged through greater business efficiency. Business efficiency is a hygiene factor now. So, we moved from then to what was called the information-based economy, where it was how we utilised data and from there we moved into the connection economy.
Connected Economy TV is very interested in theories about economic transition and we are adding more videos daily.
The connection economy is generational
Author: Keith Coats, James Kirk (yBC.tv)Categories: Business Strategy, Staff
Tags: facebook, generation y, social media
The connection economy is normal for generation Y and organisations should embrace this, as Keith Coates discusses in this TV Show.
The connection economy in the workplace
The war for talent leads to a generational gap, if you like, around how people view information, how they access information and how they make decisions and that’s where the whole technology piece comes in.
So you’re dealing increasingly with a generation, inside and outside of your business, who are using technology to make the decisions, to get their information, and when they step into organisations they expect to have access to that technology, they expect the platforms to be there, but often they walk into mind sets and policies that don’t allow them to be who they are.
It’s a little bit like me going into the Board Room of elderly people and saying ‘no books, no journals, no newspapers, banned’. They’d look at you and say ‘but that’s what we do, that’s how we get our information’.
And so policies that restrict access to the internet and Facebook and the social media platforms is sending out exactly the same message to a generation for whom that is normal, that is how they live their lives, that’s how they switch on and switch off, that’s how they connect. And my concern is often a lack of understanding around this kind of basic framework and difference of working and paradox, which is what it really is, a generational paradox around work and around technology that, because it’s not understood, we make very poor decisions in that and we alienate the people that we should be engaging.
This TV channel is all about the connection economy and we have plenty more expert discussion to come.
Disruptive technologies will come from “outside”
Author: Keith Coats, James Kirk (yBC.tv)Categories: Business Risk, Digital Strategy, Digital Trends
Tags: Digital disruption, Google, yellow pages
Disruptive technologies that can completely change the way an industry works may be developed by another industry all together. Keith Coats Discusses:
Disruptive technologies could originate from any industry
Disruption in business is probably not going to come from within your own industry, and the danger of benchmarking is that we mark ourselves and our progress against those who are running the same race.
There’s a large bank in Africa who rolled out an entire African strategy who, by benchmarking themselves against fellow competitors, that’s all they looked at.
They went into Africa to discover that the biggest competitor to banking came from cell phone technology, or mobile technology, people transacting through their mobile devices, that changes the rules of the game.
So, the principle is this, is if we’re only looking within our industry, at people running in the same race as us, the chances are we’re not going to see the disruption.
And smart organisations today are looking far enough and wide enough outside of their windows to … and asking the right questions to see the disruption that will change the rules of the game.
And our message to big companies who are leaders in their own particular sphere is don’t wait to be disrupted, be the disruption in your own industry, change the rules of the game.
And if you don’t and you become complacent and you focus on business efficiencies, there will come a time when somebody will disrupt your industry and it’s going to come from outside.
Disruptive technologies are huge factor in our connected economy. Connected Economy TV will continue to bring you expert TV shows about this new industrial revolution.