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Minds at Work: Managing for Success in the Knowledge Economy by Stephen J. Gill, David Grebow

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1

WHY MANAGEMENT NEEDS TO CHANGE

As the economic paradigms change, a corporate Darwinism takes over and the companies that fail to change and evolve disappear.

In 2012, Richard Foster’s research at Yale University indicated that the average life span of a company listed in the S&P 500 index of leading U.S. companies fell by more than 50 years in the last century, from 67 years in the 1920s to just 15 years. He estimated that by 2020, more than three-quarters of the S&P 500 will be companies that we have not heard of yet.1 More recently, in 2016, Innosight, a growth strategy consulting firm, forecasted that half of S&P 500 companies will be replaced over the next 10 years.2 The new environment is increasingly aggressive, incessantly competitive, ...

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