Audible Audio Edition
Listening Length: 7 hours and 55 minutes
Program Type: Audiobook
Version: Unabridged
Publisher: Brilliance Audio
Audible.com Release Date: April 1, 2014
Whispersync for Voice: Ready
Language: English
ASIN: B00J4T7466
Best Sellers Rank: #106 in Books > Business & Money > Industries > Manufacturing #115 in Books > Business & Money > Industries > Industrial Relations #706 in Books > Audible Audiobooks > Business & Investing > Leadership & Management
As Stefan Heck and Matt Rogers observe in the Introduction to this book, written with Paul Carroll, "Many people, companies, and even nations will try to resist the new industrial revolution. People always resist revolutions. The Luddites tried to kill the first industrial revolution by destroying the steam engines, even though the new machines took Europe out of grinding poverty by delivering productivity that drove unprecedented economic growth. Political gridlock and two world wars tried to kill the second industrial revolution, which eventually defined the dramatic improvements in economic outcomes in the twentieth century."After years of rigorous and extensive research, Heck and Rogers concluded that the third industrial revolution, now underway, "will dwarf the previous industrial revolutions in terms of both size and speed." They characterize it as a "resource revolution" and wrote this book so they could (a) suggest the nature and extent of unprecedented opportunities this third generation is generating, and (b) explain how and why capturing these opportunities requires a new management style." That, in essence, is what this book is about.They examine a multi-decade economic transition from one set of primary resources to another as the new revolution unleashes substantial economic growth and productivity improvements, "enabling millions to enter the middle class, and giving birth to new industries and business models." I agree with them that no one can predict how business will look in twenty or thirty years, "any more than Watt could have foreseen how his steam engine would transform the world." However, as countless global corporations have already demonstrated (e.g.
While I found the book interesting, I also thought that it did not stay on point.The book starts off with the compelling observation that 2.5 billion people will make the transition from relatively modest consumption of resources to typical middle class western levels of consumption => opportunity! It also states that innovation will transform the way resource intensive industries operate => opportunity again!The problem is that he does not make clear how to apply innovation to the resource needs of the developing world. Many of his examples are from the developed world with one interesting exception: a $70 refrigerator in India that fits the needs of India but would never sell in the USA. I would have liked to see more examples of products, services, and business models that targeted the developing world.It was also not obvious to me which innovations would be most relevant to resource intensive industries. I was left at the end of the book convinced that there were huge opportunities and that many resource intensive industries would indeed be transformed by innovation, but if I were a CEO of a resource intensive industry I think the book would leave me afraid rather than prepared to lead my company in a new direction.On a more positive note, I did come away with some valuable take-aways: * Big Data is an opportunity for optimizing resource utilization and creating positive feedback loops * Some industries will be deconstructed and put back together differently (modular cars?
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