Tag Archives: Economist

Lessons from Big Science

CERNLargeHadronColliderA comment piece in a recent edition of the economist looked at lessons that the rest of the world can take from the collaborative projects in Big Science. Big Science is things like the Large Hadron Collider at CERN at which the existence of the famous Higgs Particle was demonstrated to world wide interest.

The Economist author took away two interesting lessons from this article:

  • Postpone decisions until the latest possible time.
  • Challenge all assumptions and assertions — the only limitation is that imposed by fundamental physics.

These have a powerful message for the way we do change.
Click here to read about the implications

Change Analytics

Change is hard

Businesses are starting to make their use of big data a competitive advantage. A recent report from the MIT SLoan School of Management investigates the use of data in organisations (not just business).

In the Economist recently they reported on the use of data in social science. For instance an analysis of mobile phone records that can predict with not less than 80% accuracy where you are at any time of the day.  If you have a web site or use social media as part of your marketing you will be looking at data (analytics) to see where your money is having the most effect.

What role does data and analytics have in managing change?
Click here to find out

Rate of change increases

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If the rate of change on the outside exceeds the rate of change on the inside; the end is in sight.
Jack Welch

In a recent comment column in the Economist, Schumpeter notes that in 1980 (just 30 years ago) a company in the top fifth of its industry had a 10% chance of falling down to a lower tier within 5 years (the rate of change is 10% of companies drop out of the top fifth every five years); in 1998 this had risen to 25%. It is almost certainly higher now.

Of course, some of the change is newer companies succeeding in the competitive battle and moving into the top fifth; some of the change is companies losing the competitive battle and dropping down. I am interested in the implications for a business that has been going for a while. What should it be doing to survive and succeed. Or crudely put: avoid the Kodak, HMV, Blockbuster effect!

Click here to find out how to survive