Each of us experiences more discontinuity as our innovation cycles accelerate. Anand Swaminathan and Jurgen Melffert, Senior Partners of McKinsey and Company and the authors of DIGITAL@SCALE: The Playbook That Will Transform Your Company, discuss markets and technology in the digital age. They also examine and make suggestions on how to navigate the changes of the future.
Jurgen Meffert: Digitisation has brought many people anxiety. It helps to understand the context in order to overcome these fears. The frameworks that allow businesses to trade have evolved since Adam Smith's day. Nikolai Kondratiev, an economist, was the first to identify the long waves of economic growth that follow technological innovation. These include the rise in steam power and railways as well as the development of automobiles and information technology. Innovation cycles are always driven by new technologies. The only difference is that these cycles are shorter today as each innovation is overtaken at an exponentially faster pace. The industrial revolution was a celebration of progress. It saw how each technology would further free the individual from work, restricting working hours and posing a threat to their safety. Millions of people have enjoyed a rise in living standards and their life expectancy has increased rapidly. Today's industrialized nations have people who live to nearly twice the age of their ancestors 100 years ago.
Anand Swaminathan: What will the consequences be? While in the past an innovation cycle could last a generation, today it is not uncommon for a generation of people to experience multiple innovation cycles. The trend towards upheaval is growing.
Jurgen Meffert - I was there when the first word processing machine at Nixdorf was launched. It was meant to replace the old typeball typewriter. It was not long after it had been launched that the personal computer made it obsolete. The PC's rapid expansion changed everything. It also created new prices. The first computer was created for every home. We were soon in the next S curve. The pace of development has increased even more rapidly since then. I am now wondering what this means for future managers and their education.
While an innovation cycle used to last for generations in the past was common, today it is not uncommon for one generation to experience multiple innovation cycles.
Anand Swaminathan: Linear thinking is preferred by managers in companies. This didn't work out in the past. Technology was used to trigger new S curves. Traditional managers realized they were not up to the challenge. Each of these technologies' protagonists would announce the new age of the S curve. Innovation cycles speed up and discontinuities are more frequent. This is what Joseph Schumpeter recognized almost 100 years ago. He called it "creative destruction" and described it in his book Capitalism, Socialism, and Democracy. This accelerated innovation has a significant impact on the office tenure of business leaders. It has been drastically reduced. In 1984, 35% of CEOs in S&P 500-listed companies had been in office for 10 or more years. This figure was down to 15% in 2000. The average CEO remained at the top of the company for six years in 2009 - and this trend is declining.
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If you want to avoid problems such as strokes and heart disease, there is an easy way.
Get more fruits and vegetables.
Whole grains are better than refined ones. Brown rice is better than white. Switch to whole-wheat pasta
Consider lean proteins such as poultry, fish and beans.
Reduce your intake of processed foods, sugar, salt, saturated fat, and other unhealthy food.
Flexibility is key to eating well, according to Joyce Meng, MD assistant professor at UConn Health's Pat and Jim Calhoun Cardiology Center. You can follow a strict diet plan if you prefer. It's okay if you don't like following a strict diet plan.
Tricia Montgomery (52), founder of K9 Fit Club knows firsthand the benefits of a healthy diet and lifestyle. Her favorite things are eating healthy food and making small, frequent meals. She says, "I don’t deny myself anything." "I still enjoy dessert, key lime pie, yum!" -- I love frozen gummy bears and moderation is the key.
Get regular checkups. Your doctor will keep track of your medical history so that you can stay healthy. If you are at high risk of osteoporosis (a condition that weakens bones), your doctor may recommend more vitamin D and calcium.
You may be recommended by your doctor to have screening tests done to monitor your health and detect conditions before they become serious.
Be open to communication. Meng said, "If you have any questions, ask your doctor." "Ensure you are satisfied with the information." Talk to your doctor if you have concerns about any medication or procedure.
It can be very detrimental to your health. It is impossible to avoid it all, but there are ways you can reduce the effects. Do not take on too many responsibilities. Set limits for yourself and others. It is okay to say no.
To relieve stress, try:
Talking to a friend or family member.
Develop healthy habits
You can prevent problems from coming your way tomorrow if you make the right decisions today.
Brush your teeth twice daily and floss each day.
Limit your alcohol. Limit your alcohol intake to 1 drink per day.
Take your medication exactly as prescribed by your doctor.
Get better sleep. Try to sleep for at least 8 hours. Talk to your doctor if you are having trouble sleeping.
Keep out of direct sunlight between 10 a.m. and 3 p.m.
Wear your seatbelt.
Meng suggests that you take time each day to invest in your own health.
Montgomery was able to see the benefits. Montgomery says that she has overcome health issues, is happy, and has a positive outlook. She says that her life has been forever transformed.