g-f(1)18 The New Normal: Organizations and community stakeholders have a unique opportunity to redefine the scope of their priorities and collective actions

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Now is the time to take action. Now is the time for leaders, public servants, and members of society to work toward improving essential systems. We currently exist within a world that is unfrozen from the constraints of routine, habits, and norms. By leveraging this moment to explore, experiment, and learn, organizations and their community stakeholders have a unique opportunity to redefine the scope of their priorities and collective actions.

Genioux knowledge fact condensed as an image.

Condensed knowledge

• We currently exist within a world that is unfrozen from the constraints of routine, habits, and norms. By leveraging this moment to explore, experiment, and learn, organizations and their community stakeholders have a unique opportunity to redefine the scope of their priorities and collective actions.
• This unfreezing process has brought with it the possibility for radical change: We are living in a moment rich with opportunities to fundamentally improve how we live, how we relate to society, how we interact with government, and how we do business.
• Four Top Areas Ripe for Change

1. Our public health system. Currently, hospitals in the U.S. are revenue-oriented businesses (even when they are tax-exempt nonprofits).
2. Our educational system. The COVID-19 pandemic has revealed how intertwined economic activity is to educational structures: People cannot go back to work until their kids go back to school.
3. Our supply chains. The lack of access to personal protective equipment and pharmaceuticals has made it abundantly clear how globally distributed our supply chains are — and that we lack control in those operational networks.
4. Our environmental system. The COVID-19 pandemic has provided a glimpse into a possible future — one that showcases blue skies clear from smog and the reappearance of wildlife in their (restored) natural habitats.

• The Challenge of Paralysis. Each of these areas — often considered intractable barriers to change that are too complex to address — represents one tangible way through which major change might escalate to generate a future that is more equitable and sustainable than our current circumstances.
• However, the challenge of this moment — of existing within an unfrozen world — is decision-making paralysis. It can feel like too many variables are changing too quickly to be grasped and integrated into a coherent plan.

Category 1: A new, better world for everyone

[genioux fact extracted from MIT SMR]

Authors of the genioux fact 

Fernando Machuca 

References

What New Normal Should We Create? Morela Hernandez,  July 22, 2020, MIT Sloan Management Review, Fall 2020, Vol 62, No 1.

Morela Hernandez is the Donald and Lauren Morel Associate Professor in Business Administration at the Darden School of Business at the University of Virginia (@dardenmba). Links to Hernandez’s work are online at morelahernandez.com.

She is the Academic Director of Behavioral Research at Darden (BRAD Lab) and co-founder of the Convergent Behavioral Science Initiative (CBSI). She has courtesy appointments at both the School of Medicine and School of Engineering and Applied Science at UVA. Prof. Hernandez received her Ph.D. from the Fuqua School of Business at Duke University. Prior to academia, Professor Hernandez worked in finance at Enron in Houston, Texas - experiencing the roller-coaster ride of this now infamous business case.

Given her professional background, it might come as no surprise that her research interests and expertise focus on the ethics of leadership. She also studies the role of diversity in organizational systems and decision-making practices. She is widely published in a number of top-tier academic journals, including Academy of Management Review, Journal of Applied Psychology, Personnel Psychology, and Psychological Science. Her work has also appeared in media outlets such as Time magazine, the New York Times, MIT Sloan Management Review, and the Washington Post, as well as featured on National Public Radio.

g-f(1)13 Exceptional moment: We are reinventing the world in the midst of two disruptions

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We find ourselves at a defining moment: the decisions and choices we make today will determine the course of entire generations’ lives and livelihoods. We have the tools at our disposal. The bounty of technological innovation which defines our current era can be leveraged to unleash human potential. We have the means to reskill and upskill individuals in unprecedented numbers, to deploy precision safety nets which protect displaced workers from destitution, and to create bespoke maps which orient displaced workers towards the jobs of tomorrow where they will be able to thrive. 

• The efforts to support those affected by the current crisis lag behind the speed of disruption.
• The Future of Jobs Report 2020 provides the timely insights needed to orient labour markets and workers towards opportunity today and in the future of work. The report maps the jobs and skills of the future, tracking the pace of change and direction of travel.
• There is room for measured optimism in the data, but supporting workers will require global, regional and national public-private collaboration at an unprecedented scale and speed.
• Human ingenuity is at the root of all shared prosperity. As the frontier between the work tasks performed by humans and those performed by machines and algorithms shifts, we have a short window of opportunity to ensure that these transformations lead to a new age of good work, good jobs and improved quality of life for all. 
• In the midst of the pandemic recession, this window is closing fast. Businesses, governments and workers must plan to work together to implement a new vision for the global workforce.

Genioux knowledge fact condensed as an image.

Condensed knowledge 10

1. After years of growing income inequality, concerns about technology-driven displacement of jobs, and rising societal discord globally, the combined health and economic shocks of 2020 have put economies into freefall, disrupted labour markets and fully revealed the inadequacies of our social contracts. 
2. Millions of individuals globally have lost their livelihoods and millions more are at risk from the global recession, structural change to the economy and further automation. Additionally, the pandemic and the subsequent recession have impacted most those communities which were already at a disadvantage. 
3. The efforts to support those affected by the current crisis lag behind the speed of disruption. It is now urgent to enact a Global Reset towards a socio-economic system that is more fair, sustainable and equitable, one where social mobility is reinvigorated, social cohesion restored, and economic prosperity is compatible with a healthy planet. If this opportunity is missed, we will face lost generations of adults and youth who will be raised into growing inequality, discord and lost potential.
4. The Future of Jobs Report provides the timely insights needed to orient labour markets and workers towards opportunity today and in the future of work. Now in its third edition, the report maps the jobs and skills of the future, tracking the pace of change and direction of travel.
• This year we find that while technology-driven job creation is still expected to outpace job destruction over the next five years, the economic contraction is reducing the rate of growth in the jobs of tomorrow. 
5. There is a renewed urgency to take proactive measures to ease the transition of workers into more sustainable job opportunities.
6. There is room for measured optimism in the data, but supporting workers will require global, regional and national public-private collaboration at an unprecedented scale and speed.
7. The Platform for the New Economy and Society at the World Economic Forum works as a “docking station” for such collaboration on economic growth, revival and transformation; work, wages and job creation; education, skills and learning; and diversity, equity and inclusion.
8. By leveraging this publication and other insights, the Platform supports a range of consortia and action coalitions, including the Reskilling Revolution Initiative to provide better jobs, skills and education to one billion people by 2030.
9. Human ingenuity is at the root of all shared prosperity. As the frontier between the work tasks performed by humans and those performed by machines and algorithms shifts, we have a short window of opportunity to ensure that these transformations lead to a new age of good work, good jobs and improved quality of life for all. 
10. In the midst of the pandemic recession, this window is closing fast. Businesses, governments and workers must plan to work together to implement a new vision for the global workforce.

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Category 1: A new, better world for everyone

[genioux fact extracted from WEF]

Authors of the genioux fact

Fernando Machuca

References

The Future of Jobs Report 2020, Preface, Klaus Schwab and Saadia Zahidi, October 2020. 

ABOUT THE AUTHORS

Klaus Schwab

Professor Klaus Schwab was born in Ravensburg, Germany in 1938. He is Founder and Executive Chairman of the World Economic Forum, the International Organization for Public-Private Cooperation.

He founded the Forum in 1971, the same year in which he published Moderne Unternehmensführung im Maschinenbau (Modern Enterprise Management in Mechanical Engineering). In that book, he argued that the management of a modern enterprise must serve not only shareholders but all stakeholders (die Interessenten), to achieve long-term growth and prosperity.

Schwab has encouraged the establishment of communities providing global expertise and knowledge for problem-solving. Among them is the Network of Global Future Councils, the world’s foremost interdisciplinary knowledge network dedicated to promoting innovative thinking on the future.

The Forum employs over 700 people, with its headquarters in Geneva, Switzerland, and additional offices in New York, San Francisco, Beijing and Tokyo.

An engineer and economist by training, Professor Klaus Schwab holds doctorates in Economics (summa cum laude) from the University of Fribourg, in Engineering from the Swiss Federal Institute of Technology, and a Masters of Public Administration from the Kennedy School of Government at Harvard University.

His latest books are The Fourth Industrial Revolution (2016), a worldwide bestseller translated into 30 languages, and Shaping the Fourth Industrial Revolution (2018).

During the course of his wide-ranging career, Schwab has received numerous honours. He holds 17 honorary doctorates, and national medals of honour, including the Grand Cordon of the Order of the Rising Sun of Japan, the Grand Cross with Star of the National Order of Germany and the Knight of the Légion d’Honneur of France. He was also knighted by Queen Elizabeth II – Knight Commander of the Order of Saint Michael and Saint George (KCMG).

Saadia Zahidi (Twitter, LinkedIn)

Managing Director, World Economic Forum

BA in Economics, Smith College; MPhil in International Economics, Graduate Institute Geneva; MPA, Harvard University. With the World Economic Forum: Economist (2003-2005); Head of Gender Parity Programme (2005-2011); Head of Civil Society (2008-2011); Head of Employment and Gender Initiatives (2013-2016); Head of Education, Gender and Work (2016-2018); currently Head of Centre for the New Economy and Society and Member of the Managing Board. Co-Author of Forum reports on Human Capital, Gender Gaps and Future of Jobs. Author, Fifty Million Rising (2018). Recipient of honours and awards, including: BBC 100 Women (2013 and 2014); Financial Times/McKinsey inaugural Bracken Bower Prize (2014); longlisted for FT/Mckinsey Business Book of the Year (2018). Interests: future of work, education and skills, income inequality and using big data for public good.

g-f(1)2 Reshaping strategies for a reimagined future in the New Normal

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The New Normal is rife with opportunity: The time to reinvent yourself, to take advantage of your moment. 

• The unfreezing — the result of COVID-19 having swept away a status quo that inhibited change — is a chance for leaders to significantly transform their organizations and society. 
• Cocreating the future with your organization may prove to be the crucible of your leadership journey. It will take imagination, persistence, and moral courage. Use your time wisely. Rethink what’s possible.
• Knowledge makes for a more productive and resilient economy, and leads to the kind of agility and problem-solving ability that is especially needed in the face of sudden unanticipated shocks.

Genioux knowledge fact condensed as an image.

Condensed knowledge

• Moving forward with confidence may be stalled by uncertainties that make it difficult to think long term.
• Being caught between the past and future is not such a bad place to be. 
• Our present moment is rife with opportunity. The unfreezing — the result of COVID-19 having swept away a status quo that inhibited change — is a chance for leaders to significantly transform their organizations and society. 
• Our past losses may still demand grieving, and the future must still be planned, but when we focus our attention on the here and now, we can see new possibilities arising. Seize your moment.
• Cocreating the future with your organization may prove to be the crucible of your leadership journey. It will take imagination, persistence, and moral courage. Use your time wisely. Rethink what’s possible.
• Companies can no longer rely on traditional forecasting exercises to spot — and capitalize on — emerging threats and opportunities. 
• Our research shows that sensemaking is, in fact, a predictor of leadership success. And yet few leaders model or implement sensemaking in their organizations. 
• By elevating cybersecurity from an operational necessity to a source of opportunity, leaders can boost resilience and business advantage. 
• How can companies strategize once they have recognized the limitations of long-term planning in an unpredictable world? By mercilessly examining their own weaknesses and vulnerabilities, and by gaming out their own destruction before someone — or something — does it for them. 

Category 1: A new, better world for everyone

[genioux fact extracted from MIT SMR]

Authors of the genioux fact

Fernando Machuca

References

Reboot your strategy, MIT Sloan Management Review, Fall 2020, Vol 62, No 1. 

Seize the Moment, Elizabeth Heichler, September 08, 2020, MIT Sloan Management Review, Fall 2020, Vol 62, No 1.

• Elizabeth Heichler (@eheichler) is the executive editor at MIT Sloan Management Review.