a few weeks ago 52 students graduated from our business school: an important step in the personal and professional development of all graduates!
My faculty fellow Bill Holstein held a terrific speech I would like to share with you.
He compared the current economic situation with the weather forecast and concluded that we’ve entered an area of unpredictability, which has a lot to do with the increased speed of communication.
I quickly summarize a few of his statements:
“In 2005 there were 134 million mobile phone users in Africa. In 2011, only six years later, there were 660 million – an average growth rate of more than 30 percent per year. (…) Such explosive growth in such a chaotic area of the works spells opportunity for those who can spell correctly.”
“Sales on eBay conducted over mobile phones amounted to $600 million in 2009 and over $5 Billion in 2011. More than an 8 times increase in two years! And eBay expects the percentage of sales over mobile phones to grow 100 percent more in the next few years. (…) This changes the business model for a traditional retailer dramatically. Many will not be able to respond fast enough to survive.”
“U.S. workers tenure in their current job is 4.4 years. The average number of jobs in a lifetime: 11.4 for men, 10.7 for women, not three as for me.”
Bill summarized his speech in one word: chaos. Chaos is the opposite of the idea of order. Or as Bill put it: “when conditions are chaotic, you must apply different techniques. “ This is the true challenge.