Embracing Co-Creation to Manage Complexity and Revitalize Value Creation by Venkat Ramaswamy

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Propelled by advances in global communication and information technologies, there has been an explosion in interactions in the business-civic-social-natural system. These interactions are among both human and nonhuman entities (e.g., devices) in the system and entail the following five key characteristics of complexity: 1. An increase in the number of entities interacting in the system. 2. An increase in the diversity of entities in the system. 3. An increase in the interdependence of entities in the system, with each entity affecting and being affected by the actions of other entities in the system. 4. An increase in the unpredictability of actions and events in the system. 5. An increase in the variability of potential outcomes […]

Global Peter Drucker Forum 2012 – Think Young Article by Alexander Brown

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Held in Vienna, Austria, between the 15th and 16th of November 2012, the Global Peter Drucker Forum explored in detail the system of capitalism. Moreover, the focal question was whether or not maximization of shareholder value should be the primary concern of a business. Two members of the ThinkYoung team attended the conference to offer a youthful insight to a setting one would assume to be habitually dominated by seasoned representatives of multinationals.   Richard Straub, President of the Peter Drucker Society Europe, referred to the participants of the conference as essential components in an engine of change, driving towards new and better horizons, both socially and economically. He later quoted Winston Churchill in his […]

The Case of Vestas Wind Systems and Peter Drucker’s five deadly sins of business by Jørn Bang Andersen

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Denmark’s Vestas Wind Systems is a world leader within the global wind turbine industry. But after 2008 Vestas has experienced a near death experience and is struggling for survival.  It is argued that had Vestas paid attention to what the management guru Peter Drucker labeled the five deadly business sins Vestas might have avoided getting into dire straits.   According to Drucker the five deadline business sins are applied to Vestas in this article and as follows.    1. The first and easily the most common sin is the worship of high profit margins and of “premium pricing. (Peter Drucker)   The financial targets for Vestas’No.1 in Modern Energy strategy were defined October 2009, as Triple […]

Democracy full circle: its invention may hold the key to its future
by Liviu Nedelescu

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Over two and a half millennia ago, Greek philosophers gave us the “dialectical” method of constructive argument. In the 21st century democracy is faced with significant challenges, and moving forward may require searching for solutions from the wisdom of democracy’s inventors.   The dialectic method is a form of reasoning based on dialogue of arguments and counter-arguments, advocating propositions (theses) and counter-propositions (anti-theses). The dialectical method of dialogue is unique and different from rhetoric and debate in that it aims to converge the opposite points of view and form a new and superior point of view from the synthesis of the initial arguments. This transcendence is possible by searching for commonalities between the two opposing points of view when considered […]