<ul>
<li>Institute policies to shape the future, including the use of “organized abandonment” and “organized improvement” to keep directing your resources to the top opportunities.</li>
<li>Use systematic innovation by regularly scanning the environment, and proactively converting changes to opportunities to innovate.</li>
<li>Use piloting to introduce changes, since breakthrough ideas and solutions can’t be validated through conventional market research or modelling.</li>
<li>Balance between the need for change vs continuity (or stability).</li>
</ul>

The 4 Requirements of a Change Leader

You must answer 5 key sets of questions:
<ul>
<li>What are my unique strengths? Use Feedback Analysis to learn your strengths, how you perform, and what your values are.</li>
<li>Where do I belong? Identify the right opportunities that fit your unique strengths, personality and values.</li>
<li>What should my contribution be? How you can make the biggest contribution and the results that’d make a difference?</li>
<li>How can I take relationship responsibility? Take responsibility for building relationships and alliances that add value to the organization.</li>
<li>What will I do with the second half of my life?</li>
</ul>

The Challenge of Managing Oneself

<ul>
<li>In developed countries, large portions of public-listed corporations are now owned by pension/mutual funds investing people’s retirement funds. This calls for a new definition of performance and long-term shareholder interests.</li>
<li>It’s no longer enough to rely on low costs or government subsidies/protection. For long-term survival, organizations must be competitive globally.</li>
<li>The gap between economic globalization and local/regional protection will widen. Organizations should make decisions based on global economic competitiveness, not local/ political considerations.</li>
</ul>

The Truths Of The Coming Century

In the 20th century, management’s critical focus was on improving manual workers’ productivity using production equipment. In the 21st century, the focus is on maximizing the productivity of knowledge work and knowledge workers.It’s more complex to improve knowledge-worker productivity. You need 6 key factors, most of which are the opposite of what’s required for manual work: Defining the task clearly, taking responsibility for results, continuous innovation, learning/teaching on the job, defining/measuring quality and treating knowledge workers as capital assets (not costs).

The Challenge of Knowledge Worker Productivity

For 50 years, the information revolution focused on gathering, storing and presenting data. Computers have already transformed how we operate or perform our tasks. 
The new Information Revolution in the 21st century will shift from the “T” to the “I” in “IT”. It will no longer be about technology or systems, but how we interpret, organize and use information make better decisions, manage risks and create value.

Addressing the New Information Challenges

<ul>
<li>Birth rates in developed countries will continue to fall.</li>
<li>The labour pool will shrink, its median age will increase, and there’ll be pressures for more migrant workers.</li>
<li>Organizations must find ways to attract & tap on a new pool of older knowledge workers who work part-time instead of retiring fully.</li>
<li>Don’t just focus on revenues or market share. Focus on your share of customers’ disposable income (and if it’s increasing/decreasing). This shows if you’re in growth, mature or declining industry to direct your strategy.</li>
</ul>

Build Sound Strategies based on Certainties

Paradigms are basic assumptions about reality. They shape what we define as “fact” and how we see the world. 
The 21st century brings new social, economic and demographic realities that are in conflict with the old ways of thinking and acting.

Fundamental Paradigm Shifts

Management is essential in any type of organization, be it a church, school or business. Managers play a vital role in organizing their teams/resources to suit the task at hand, bringing out the best in each person, and figuring out how to create the greatest customer value across the entire economic value chain (regardless of geographical boundaries). 
Management is ultimately responsible for everything that affects the organization’s performance, regardless of whether they’re internal/external, within or beyond the organization’s control.

Paradigm Shifts Of the 21st Century

Management Challenges in the 21st Century looks afresh at the future of management thinking and practice. The content revolves around two fundamental issues that are occuring simultaneously: changes in the world economy, and shifts in the practice of management. These developments, especially in developed countries are crucial in exploring and understanding the challenges of the future. This volume focuses on the key questions for all business: What are the new realities? What new policies are required of companies and executives in order to deal with these changes. Facing a whole swathe of issues head-on in his usual clear-sighted style, Drucker offers up a prescient and informed analysis that will help every executive to build a proactive strategy for the future.

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leadershipandmanagement

Leadership & Management

Management Challenges in the 21st Century looks afresh at the future of management thinking and practice. The content revolves around two fundamental issues that are occuring simultaneously: changes in the world economy, and shifts in the practice of management. These developments, especially in developed countries are crucial in exploring and understanding the challenges of the future. This volume focuses on the key questions for all business: What are the new realities? What new policies are required of companies and executives in order to deal with these changes. Facing a whole swathe of issues head-on in his usual clear-sighted style, Drucker offers up a prescient and informed analysis that will help every executive to build a proactive strategy for the future.

Fundamental Paradigm Shifts

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