It’s very hard to think of running a business without a strategy or a plan. But in fact, business managers should free their minds of these restrictions on action, and instead focus on exploration and expansion of a portfolio of experiments.
Mark Schaefer is an expert at bringing economic theories of this kind into vibrant contemporary life. He coined the term Cumulative Advantage and wants all entrepreneurs to know how to harness it.
We often hear that capitalism is under fire: in contemporary politics, in journalism, in popular discourse, and even in some business schools and among some management scholars and their students. But the criticism, upon examination, is not about capitalism but cronyism.
The concept of jobs comes from a previous era. The fear of “loss of jobs” is therefore misplaced. We are entering an era of universal entrepreneurship.
Only when you have mastered theory can you master the navigation of specific situations, and be confident in your good decision-making and judgment.
Don’t fear that jobs will be replaced by digital automation. Celebrate the new emerging value generation capability of entrepreneurs with digital assistants.