I consume a lot of content. The content is like a depository of food for my mind to decide what is waste and what is nourishment. The wasteful content proves to have no meaning and I usually never finish reading it. The content that nourishes my mind connects with my soul and speaks to my convictions. I think anyone reading this article will understand what I mean.
The following summaries are about three articles written by three different people who appeared last week in three different publications. Yet the common thread in these articles are about how business leaders need to rethink, reinvent and recreate from the outside in. I hope you enjoy these as much as I did.
The First Article: Alex Banayan writes in LinkedIn Today, Malcolm Gladwell’s latest book, David and Goliath: Underdogs, Misfits, and the Art of Battling Giants, examines the surprising principles behind how underdogs beat out giants. Like most of Gladwell’s books, he shares lessons that are not only wildly thought-provoking, but also unavoidably true in the business world. The five principles are:
- Use Your Competitor’s Success Against Them
- Never Forget the “Principle of Legitimacy
- Never Mistake Size From Power
- Choose To Be A Little Fish In A Big Pond
- Your Visible Disadvantage Is Actually Your Hidden Mega-Advantage
The Second Article: Hemant Taneja writes in HBR :Economies of Unscale: Why Business Has Never Been Easier for the Little Guy stating : The American worker just can’t seem to get a break. Automation is wiping out whole job categories, from cashiers to machine-builders, while pressures from globalization, trade, and new Internet-driven business models have disrupted industries and displaced hundreds of thousands of workers. And the prescribed solution — education — is becoming increasingly unaffordable for most Americans.
But the tide is about to turn. A series of breakthrough technologies and new business models are destroying the old rule that bigger is better. By exploiting the vast (but cheap) audience afforded by the Internet, and taking advantage of a host of modular services, small becomes the new big. The global business environment is decomposing into smaller yet more profitable markets, so businesses can no longer rely on scaling up to compete, but must instead embrace a new economies of unscale.
The article provides examples of what companies like FedEx, Amazon, Ebay and Foxconn have done to open up distribution for the little guy. What Facebook, Twitter and social media has done for social marketing. YouTube for video distribution and iPhone and Android has done for mobile.
Using such tools, companies that embrace economies of unscale as a strategy can compete with far larger competitors.
The Third Article: Adapt You Business To Social Change, Or Die, with conversations between Nancy Lublin and Omar Haque states: Things need to change when things break, and the situation with the global economy right now is one of breakage. There is a great imperative for change that confronts us. And if we want to respond to it, I will give you three values.
The first is optimism–a profound sense of hope and the possibility that we can better people. The second is rebellion, a sense that the rules are broken and we have to rewrite them if we want to improve things. And the third is empathy, because we can’t change things unless we feel the pain of other people. You need a leader who stands for these things and is willing to build a new kind of organization.
We cannot rethink, reinvent and recreate business that is better than before unless we understand how to make it better by listening from the outside in.