The future of business has been energized by the introduction of the internet. The past twenty years have seen sweeping changes brought about by massive technological changes.
The new labor force is being downsized while the company is growing. Stock options are giving some employees the confidence to follow their dreams. What is now called "old economy" the P&G's of the world are motivated to get to dot com land.
When I started my career in Insurance consulting staying with one company was the norm. Not now. We need to accept the things we can not change. The new economy is gaining momentum and we best move with it.
As technically oriented people we want some information to develop our thoughts about the future. My first thought is what are the data points that we should be capturing? I've selected some interesting areas to study. We'll need to decide at a later date the results from our crystal ball.
Here goes as we look into Managing in the 21st century.
The www in world wide web speaks to the new economy. Making future predictions based on historical data is getting harder to do. Companies with no profit projections on the horizon like Amazon.com are driving the new economy.
Companies are merging, acquiring and investing to grow globally. Just look to Citigroup. During the past two years the combined services from Citibank and Travelers Group have dominated in the world of Insurance, Investments and Finance. This competition is engaged throughout the world.
Exit Explanations
Acquisition or merger - 48.2%,
Retirement - 35.7%,
Death - 5.4%,
Dismissal - 1.8%,
Other - 5.3%
Source: A study of 476 major companies in all industries in 25 countries by Drake Beam Morin, Boston
Job security for chief executive officers has diminished globally. CEO turnover is rising world-wide. Nearly 80th of the companies studied changed their top leaders at least once during the 1990s, and in the past five years, nearly two thirds did. These turnover rates were almost the same around the globe.
The long-tenured CEO will "become increasingly rare, and fewer CEOs can expect to hold their job until retirement," says the study.
With shorter tenures, more leaders must implement their strategies within sped-up time frames, "reinforcing the current corporate focus on achieving short-term business results."
Diversity of work being done by:
teenage workers
x-generation managers - 1965
boomers - 1946–1964
78 million strong mature workers - 1909 - 1945
From 1996 to 2006, the population of 25–44-year olds in the workforce will decrease by nearly two million workers. Impact on new business development is being questioned as this age group is the primary source of new entrepreneurs. This may result in a temporary decline in the number of start-ups.
