CHANGES IN THE INFORMATION INDUSTRY

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Dr. John Psarouthakis

Executive Editor

 

In addition to the major shifts that have already occurred, we now have also other shifts caused by the explosion occurring in front of us in the information industry.

  • One change is globalization that has rendered national borders meaningless.  This in turn has increased competition for goods and services by several orders of magnitude.  Today, companies anywhere in the globe can compete in markets which in the recent past were not accessible to them.  They can have the advantage of new technologies, low-paid and highly skilled labor, and capital availability as they need it.

  • Second change:  Quality of labor.  In 1972, one third of the work force in the USA were “brain power” related, while two thirds were people that used “muscle power.”  Now, it is exactly inversed ?  two third’s “brain power,” one third “muscle power.”

  • Third change:  Whether the worker is “brain power” or muscle power, he or she must be able to think for themselves.  They must be involved and make critical decisions on the goods and services they are engaged to produce.

  • Fourth change:  We must be a team
  • Fifth and most important:  Business executive leadership is redefined.
    – Make technology your friend
    – Be innovative
    – Communicate
    – Motivate
    – Solicit participation by teammates
    – Be a Visionary
    – Be involved in the affairs of the community
    – Be sensitive to employees problems beyond the workplace
    – Attract the financial community
    – Be analytical / conceptual
    – Be sensitive to the bottom line
    – Be aware and sensitive to societal needs and the corporation’s
      participation in fulfilling them
    – Contribute time and money to worthy causes
    – Be able to walk on water

What else is happening out there in the real world?

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