Management for Inclusive Prosperity: How Do You Know?
by Lukas Michel

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In their inaugural article, Richard Straub and Julia Kirby concluded that managers must ‘make the most of human potential, and manage to make prosperity inclusive’. This sounds like what good management is all about. David Hurst’s article, then positioned management as a means to cultivate prosperity. He ends by quoting Clay Christensen ‘Management is the most noble of professions if practiced well’ suggesting management as an occupation that helps others learn, grow, take responsibility and contribute to team success. This is more about good management. And the scientific evidence is overwhelming: good management matters! But how do we know? As a manager, I would be interested in finding my own response or at least have […]

Open Innovation and Altruism
The fortunate combination that stimulates growth with inclusive prosperity
by Piero Formica

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Altruism perfectly fits in with inclusive prosperity. Open innovation (OI)-driven growth with knowledge, competencies, and skills freely exchanged across cultural groups is the zeitgeist of the 21st century, characterized as it is by its emphasis on the widest possible access to new knowledge and resources, producing beneficial effects in new entrepreneurial ventures. Emerging from this is a hybrid culture reflecting various strands of OI, in which altruism can be included together with open experimenting that can be unconventional. Stating that altruism is serving OI is tantamount to saying that altruism is a practical social innovation. Inward-looking, selfish organizations minimize cooperation and so stifle open innovation. Altruism opens up a promising prospect for an outward-looking approach […]

Management: a Noble Practice
by David Hurst

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The theme of the 2017 Global Drucker Forum to be held in Vienna later this year is “Growth & Inclusive Prosperity – The Secular Management Challenge”. Dictionary definitions of prosperity mention a condition of being successful or thriving, especially economic well-being – a desirable accompaniment of living. What’s the essence of living then? Three Viennese psychotherapists came up with three distinctly different answers: Sigmund Freud (1856-1939) claimed that it was the ‘will to pleasure’ Alfred Adler (1870-1937) argued that it was the ‘will to power’ Viktor Frankl (1905-1997) contended that it was the ‘will to meaning’ All of them have a kernel of truth, for it’s difficult to imagine humans flourishing without each of these […]

Meaningful Work Should Not Be a Privilege of the Elite
by Richard Straub & Julia Kirby

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It is hard for anyone to be against the idea of inclusive prosperity. Of course the bounty produced by economic growth should be broadly shared. But the devil is in the details, and when people advocate for inclusive growth they don’t always have the same things in mind. Some, for example, are inspired by Thomas Piketty, who seems to have singlehandedly set a new agenda for economics research. This group focuses on reducing the disturbing inequalities in individuals’ incomes and wealth. Others, like the Legatum Institute, think of prosperity less in financial terms and more as overall well-being, and focus on measuring and growing all its components in societies around the world. A third group […]