A New Model for a New World: Why It’s Needed and What It Consists of

Annika Steiber
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Annika Steiber: A.S. Management Insights AB

Chapter Chapter 2 in Management in the Digital Age, 2018, pp 7-14 from Springer

Abstract: Abstract Today’s business world is one in which “change itself has changed,” becoming more rapid, pervasive, and ongoing. For most firms, this requires a fundamental re-invention of management, as the typical corporate bureaucracy cannot respond well to rapid changes. This chapter outlines the shortcomings of old-style management and reviews the multiple forces of change that prevail today: technological change, demographic and social change, globalization, and energy and environmental factors. These in turn point to a need for “dynamic capabilities” (per David Teece): the ability to sense and seize new opportunities while reshaping the enterprise accordingly. The chapter closes with some characteristics that a new management model should have, including a people-centric innovation culture, flexible and ambidextrous structures, and active engagement with the firm’s larger ecosystem.

Keywords: Dynamic capabilities; New management model; Organizational ambidexterity; Entrepreneurial management; Innovation management; Open innovation (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spbrcp:978-3-319-67489-6_2

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DOI: 10.1007/978-3-319-67489-6_2

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