Africa [credit: Mapswire.com]
Africa is a nascent innovation powerhouse, and its leadership will become increasingly obvious during the coming decades, but the seeds are already visible as this post reveals: Africa’s population is exploding, and its young people are adopting tech alternatives to countries’ long-insufficient health, education, and financial infrastructure.
If you’ve been interested in international development for long, you have seen many prognostications about “Africa rising” over the years only to see them fade into oblivion. Predicting profound economic shifts is like predicting earthquakes; you study the driving forces and your algorithms crunch the data.
That isn’t stopping Helga Stegmann. She has led “user experience” agency Mantaray since 2006, and she gave a riveting talk last week in Chicago hosted by partner agency BoldInsight. In my experience, user experience folks rarely have their hands on the pulse of disruptive economic change, but the reason she is an exception reflects that Africa’s economic transformation is happening at the grassroots level (as with most revolutions), and her key orientation is user experience design, so researching users across rapidly evolving interfaces in devices. Follow along with my notes of her remarks […]
Behavioral economics autonomy and ethics is a thought experiment on how to approach “doing good” when applying the emerging practice of behavioral economics. Along with big data analytics and cognitive science, behavioral economics affords businesses, governments and other organizations unprecedented impact on individuals’ behavior, even without their consent or awareness. This arouses serious ethical and social dilemmas.
Free is an indispensable introduction to the disruption of “a product for a price,” one of the Industrial Economy’s key constructs. It is rich with examples of many of the pricing innovations and business models with which you’re probably familiar but haven’t thought about in depth. Many of its examples have to do with digital products, which are inherently disruptive because their distribution cost is close to zero, and they can displace legacy analog products.
![The Social Business Enabler of Digital Transformation [CDO Guide to Social Business Part1]](http://rollyson.net/wp-content/uploads/2013/06/CDO_socbus_1_main2.png)
Social business competency is pivotal to digital transformation because it combines four unusual characteristics. First, it makes interacting and collaborating an order of magnitude faster and less costly than current processes; second, few organizations understand how to use social business to interact with key customers to boost profit, so leaders enjoy rare advantage; third, when compared to ecommerce, mobile and big data & analytics investments, social business shows results quickly and costs less. Lastly, social business reveals what stakeholders really think when organizations aren’t in the room, so it’s effective for due diligence and “requirements analysis” for ecommerce, mobile and big data investments.
I covered the Federal Reserve Bank of Chicago Economic Forecast last week, where all speakers issued this refrain: “More of the same.” Key economic indicators have been stuck in neutral—the proverbial “sideways” movement—so the consensus in the room was one of faint frustration tempered by gratitude. Everyone had lived through worse.
Pioneering brands are building post-product customer relationships in the social channel because they realize that product features are copied easily and serve as weak differentiators, which leads to pervasive commoditization. Moreover, people’s preferences for individualized information dealt mass media a lethal blow, and products firms will have a similar fate. Here’s why products will become extinct and how to guide your brand in building post-product customer relationships and profits.
The Big Switch is a valuable book that reflects what has become Nick Carr’s trademark role, heckling IT and Web enthusiasts, albeit from good seats. Carr seems to relish his role as “the fly in the ointment” of the idealistic IT-enabled world that Web missionaries espouse. Although this book has shortcomings, I recommend it for two reasons. First, Carr makes a convincing and useful argument that the “electrification” of business and society (the Edison part) has valuable lessons for the “computerization” transformation of business and society (the Google part) that is currently unfolding. This parallel provides context to think about some of the disruptions around your business, society and career. Second, Carr raises serious questions about possible privacy implications of computerization. He palpably weighs in on the dark side and seems to want the world to change course from the “googlization of life.” If you haven’t read The Long Tail, I would read these books in proximity because they are very complementary and both quick, important reads.
CHEF Chicago’s hospital executives listened raptly to Dr. Regina Herzlinger‘s impassioned message for transforming U.S. health care at their 35th anniversary celebration this month at the J.W. Marriott in Chicago. Dr. Herzlinger is respected and renowned for her message, so there were few surprises. The most distinctive element of her point of view is her strategy for taking a retail-led approach to transforming health care. She is very market- and consumer-focused, which is refreshing because it relies on the market and customers at least as much as the government. “Who Killed Health Care?” is her latest book, and she is a regular advisor to federal and state government officials.
As the curtain rises on the second decade of the twenty-first century, we will see that the machine is actually fine, but it’s become a different game. Quite entirely. To put it mildly, “the economy” is proving to be quite a drama, its pungence largely dependent on where your company or career is wired into it. Although it is quite frowned upon in the U.S. to admit despair, some pundits have even flirted with the moniker, “The Great Recession” to describe the crisis, a faint nod to the Great Depression of the 1930s, but this comparison is off-base. As I have argued for some time, the 2007-2010 “financial crisis” has played a mere overture to the real story, a transformation of the global “economic architecture.” I first heard this deft phrase from His Excellency Shri Kamal Nath, India’s very diplomatic Minister of Commerce in 2008 (coverage here).