New Paradigms Needed

We need new paradigms for doing business.  One only has to look around to see that the old paradigms no longer work; the economy has tanked, people are out of work in record numbers, education is failing our children (and perhaps even our college graduates), worldwide poverty is growing (even in North America), and we increasingly less civil to each other.  We no longer live in the Industrial Age. It could even be debated that we no longer live in an Information Age.  Successes and failures can no longer be measured using the old matrixes.  The old way of doing things no longer cuts the mustard.  Our thinking - and ways of doing business - must flow new contexts – global, hyper, greed-centered capitalism, and an "I" thinking mentality – contexts that not only conflict with the old paradigms, but quite frequently, also with each other. To do business in the contemporary in a way that contributes to economic growth we will need …

1. New definitions

We need to reconsider how we define words such as "success," "failure," "business," "entrepreneur," and "innovation," among others.  "Success" or "failure" can no longer be defines by traditional P & L matrixes.  The word "entrepreneur" needs a new definition.  Entrepreneurship is not the sole province of small companies.  We need to stop confusing "innovation" with "creativity"- innovation is what creativity breeds.  And while we are at it: being "Hip & Cool" does not necessarily translate to being creative, in fact, the "old hip & cool" is dead. Most importantly we need to ask ourselves, do the old definition of business still work (they don't), and if not what will?  Which leads us to…

2. New business models

The old hierarchical Industrial Age way of doing business is passé; new models are emerging.  Many of these new models will fail, but it is to the region's advantage to examine their viability and potential contribution to the region's health.  Likewise, our business school's need to stop teaching old models of getting things done and concentrate on developing and defining new models for business.

3. New funding models and measurement matrixes

Projected income as the sole criteria for securing venture capital ignores such things as intellectual and human capital, and corporate social responsibility.  New funding matrixes must address how proposes plans contribute to the region's intellectual and human growth.  Growth must be measured in ways other than how much financial capital it contributes to the region.  Matrixes need to be developed that measure how various endeavors contribute to the region's livability, appeal, and maturity, along with their social responsibility.  Successes and failures can no longer be measured by return to stakeholders.

The same is true for foundation giving; success cannot be measured in terms of numbers alone.  Foundations must move from the mentality of funding only program needs and consider operating expenses.  The old hierarchal, "old money" non-profits are becoming dinosaurs, while new grass-root non-profit models rise up around us, non-profits (and profit-making businesses too) that often have the potential to accomplish far more that old established ones with their bureaucracy and high overhead.  It is here that the future lies, however, sufficient operational funds must be forthcoming.

If those who control the purse strings of venture or foundation money are going to demand measurement then they have an obligation not only to fund the measurement itself, but also to develop matrixes for measurement that are appropriate and true measures.  Those on the receiving end of such funding need to be open and participate in the creation of viable matrixes.

Most importantly, when it comes to measurement, funding needs ultimately to be measured by sustained growth and regional contribution, not merely net profit or "numbers served."  Those granting funds have a moral obligation to be socially responsible themselves.  Emotional needs must not be overlooked either. Just think of how many entrepreneurs have made a fortune only to lose it because of immaturity.

4. New educational models

The Information Age is dead!  We live in an age when information moves so fast that it often leaves its context behind. The real issue with our educational systems is not financial or even student academic achievement.  The real issue with education is that we insist in continuing to force outdated Information Age and Industrial Age models to fit like square pegs in a round hole.  Our children are products of the Hyper Age and we need to develop new models of education that understand and use the nuances of the Hyper Age.

5. New models of governance

Government, like education refuses to adjust to the Hyper Age.  Big-business quasi-government organizations need to be scraped.  Hierarchal business models do not work any longer (if they ever did).  All models these accomplish is to stymie innovation and growth.  Private agendas must also go.  There is nothing wrong with agendas, we all have them, but let's be up front with them.  Backroom dealings imply that (1) there are private agendas at work that have little to do with what's best for the region in the long run, (2) we the citizens are too dumb to understand the fine points of the debate (a rather arrogant attitude), and (3) even if we did know, we wouldn't care anyway (implies that we are wimps).   New models of governance require new models of citizenship.

6. New models of citizenship

Let's be honest about it, we often seem to have a tendency to buy into the idea that our region is doomed and the power-that-be do know what's best to keep us from being forever doomed.  (Perhaps this is intentional, what better way to get us to hand over control?)  Maybe this worked in the Industrial Age when we could be assume that the media was presenting factual information, businesses had their customers best interest at heart, and government was responsive to her citizen's needs.  If this were ever true (and I doubt that it was) it is not so any longer!

It is time that we take back control of the future, that we set the agendas, rather than allowing the powers-that-be to set them.  We must insist that the region give up the power-structures of the Industrial Age and move into the Hyper Age.  We need to start questioning what we read in the media, to thoroughly examine agendas.  We need to become vocal.  We need to hold our representatives accountable for their actions.  We need to question and demand full answers, not partial half-truths and evasions. We need to enter fully into the process.  We need to muscularly wield our votes as a tool to remove those who operate from hidden agendas, to bring about growth.

If we don't, we have no one to blame but ourselves when private agendas rule the day and we remain stuck in an ever-dying status quo.