Why We Live In A Golden Age Of Innovation

Despite horrific daily headlines, the real news is that we are living in a golden age of innovation. It has been called “the digital age”, among other names, although that label can wrongly imply that this is just about technology. In reality, it’s a combination of both new technology and a radically different kind of running organizations. It is the combination of that makes things fundamentally different from what was happening in the 20th century.

A Revolutionary New Way Of Managing

Surprisingly, technology alone doesn’t make much difference. We have learned over the last two decades that few benefits ensue from the new technologies unless there is also a different mindset towards managing—human beings creating value for other human beings. It is a new meta-model of management that is fundamentally different from industrial-era management, which was based on efficiency and outputs. Firms as diverse as Haier and Microsoft, among scores of other firms, have demonstrated the new way, not just in tech, but in cars, finance, health, agriculture, music, movies, retail, restaurants, gaming and hoteling. The new management mindset includes.

·????????Embracing a goal of creating value for the customer as the primary foundation of everything the firm does.

·????????Unleashing talent in self-organizing teams and micro-enterprises. Talent is now driving strategy, rather than vice versa.

·????????Operating as a network of competence, rather than a hierarchy of authority.

·????????Enabling a firm to create new businesses, new business models, platforms and ecosystems, and managing data as an asset.

Three Dimensions of Benefits

And once both technology and management are in place, then dramatic benefits start appearing, along three dimensions.

First, the impressive benefits for customers are almost magic, transforming how we work, how we communicate, how we go about, how we shop, how we how we play games, how we deliver health care and education, how we raise our children, how we entertain ourselves, how we read, how we listen to music, how we watch theater, go to the movies, and how we worship: in short how we live. This combination of new technology and new ways of running companies is changing most of our lives, even those in developing countries.

Second, it changes the workplace, potentially for the better. When those doing the work are collaborating in self-organizing teams, focused on delivering value for customers, work can be meaningful and uplifting. At its best, human beings are delivering value for other human beings, as opposed to individuals producing things in accordance with instructions from bosses.

Third, it is much more profitable for the firms themselves, once they get fully into this mode. Microsoft is a striking example. It made a commitment to the new way in 2014, under the leadership of CEO—and now chairman—Satya Nadella. Since his taking over and implementing this different way of running a company, Microsoft has added $1.5 trillion to its market capitalization. There is a large pot of gold awaiting firms that can make the shift.

Want To Learn How Your Organization Can Make The Gains?

Would you like to know more about how your life, your work, your organization, and your society are destined to be different in the digital age, and what choices you will have? And how can you prosper in this emerging new age?

If you’d like to learn more, here are two opportunities.

·???????Enroll in my FREE WEBINAR ‘Winning in The Age Of Digital’ (online this Tuesday October 5 from 11am to noon ET) Register here.

·???????Register yourself-and your team-in my EXECUTIVE TRAINING COURSE 'Winning in The Age Of Digital' on Oct 27, Nov 3 & 10. (12 hours, online)

Online EXECUTIVE TRAINING COURSE Oct 27; Nov 3 & 10

This interactive course is for executives—individually or in teams—who want to enhance their understanding and leadership skills for the age of digital. The course will cover six key areas:

??????????????????Learning how to inspire others to change through leadership storytelling.

??????????????????Understanding the difference between industrial-era management and digital-age leadership.

??????????????????Mastering the three basic laws of the digital-era organization.

??????????????????Learning how to innovate by systematically creating new customer value.

??????????????????How to create new businesses, digital platforms, and business ecosystems.

??????????????????How to diagnose the status of your Agile initiatives and digital transformations.

Register here

·???????The participants at the April iteration of the executive training course were unanimous in recommending the course. "Inspiring!" "Mind blowing!" and "Life changing" were some of the adjectives used.

·???????Got a question about the course? For example, what's involved in enrolling your whole team, please send me an email. I'd be delighted to hear from you.

·???????I hope you will join me in these exciting events.

Register here

And read some of my recent Forbes articles:

·???????How To Persuade Even Major Firms To Change\

·???????How the Digital Age Is Reinventing (Almost) Everything

Note: An earlier version of this article was published on Forbes.com. It is republished here with permission, all rights reserved. ?Copyright Stephen Denning 2021