From today forward, companies have two choices. A long, slow slide under the old rules. Or a new, smarter approach to creating more value than ever before.
Most would obviously choose the later approach. But choosing an approach doesn’t mean you understand how to implement the approach.
We live in the Social Era fueled by knowledge co-created, shared and propagated instantaneously. If you want to grow, innovate and profit, you will need to learn to leverage new knowledge. Your workers and your partners are the source and the sustaining force behind finding and using new knowledge. But you can’t just buy or use their knowledge and then tell them to shut up and do as they are told. You need a different kind of management philosophy to profit from this knowledge. Our current stalled economy is directly related to our confusion over this fact. The old rules no longer apply.
New Rules for Smarter Companies
- Culture is the force that produces results.
- Results come from making smart decisions gudied by new knowledge.
- Employees are valued for their knowledge, not just viewed as an expense
- Information flows from the bottom to the top of an organization as freely as it flows from the top down
- Employees are trained and empowered to make improvements and innovations in their work processes every day and without manageent supervision
- Managers spend most of their time helping their subordinates solve problems rather than policing them
- Partners are valued for their competencies and efficiencies rather than just their price
- Systems support people and make their lives easier rather than harder
- Processes automate all the easy work and free employees to focus on the highest value problems and customers
- Most knowledge is shared collaboratively with partners to contribute to the growth of the industry
- Critical knowledge is protected to preserve corporate advantage
- Your intangibles are viewed as more valuable than the tangibles
- Change is a permanent state of mind
- Managers know how to explain all this to both internal and external stakeholders
One last but vital point. It is the smarter companies that create new rules for the Social Era marketplace. Not knowing the new rules is dumb.