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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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No Ordinary Disruption summary
Richard Dobbs, James Manyika and Jonathan Woetzel
The Four Global Forces Breaking All the Trends
19 mins
Brief summary
No Ordinary Disruption by Richard Dobbs, James Manyika and Jonathan Woetzel explores the impact of megatrends like urbanization, technological innovation and globalization on the global economy and society, and offers insights on how individuals and organizations can adapt to these disruptions.
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No Ordinary Disruption
Summary of 8 key ideas
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Key idea 1 of 8
A series of globally disruptive forces are fundamentally changing the economic landscape.
The quarter-century before the crash of 2008 was a time of unparalleled economic development. Interest rates were low; natural resources cheap; jobs plentiful and workers adequately employed.
But that phase is now over. Today, we’re entering a new phase, marked by four globally disruptive trends.
These trends are: a shifting focal point of economic activity and dynamism; an acceleration in technology’s scope, scale and economic impact; an aging global population; and a greater degree of connection through trade, capital information and people.
While these trends certainly present major challenges, they’ve also been the driving force behind pulling some one billion people worldwide out of poverty since 1990.
In short, increased connectivity and advances in technology have spurred economic growth. The shifting locus of economic activity as a result has meant more development in ever more remote regions, further ameliorating the burden of poverty in these areas.
This new world is thus going to be wealthier and more urban, with higher skill levels and better health than previous generations.
These four global trends interact in complicated ways, however, which makes predicting future conditions increasingly difficult. Not just that, but such forecasts are often based on past experiences and outmoded ways of thinking.
To succeed in this new world, we need to reformulate our prior notions about how the economy works.
For instance, supply and demand traditionally says that when demand for financing is high, capital becomes more expensive; and then, demand will abate. But now the opposite is true. Emerging markets the world over are rapidly building capital-intensive infrastructure and spurring demand, even though the cost of financing continues to rise.
But this is just one example of how old ways of thinking aren’t keeping up with changing conditions. Let’s take a closer look at today’s four disruptive forces.
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What is No Ordinary Disruption about?
No Ordinary Disruption (2015) details four forces that are changing the world’s markets in profound ways. These blinks show you how the business world, the jobs that support it and the market that shapes it are transforming and what companies, governments and individuals need to do to not only survive but succeed in this new world order.
Best quote from No Ordinary Disruption
Leaders will have to resist the temptation to focus on the hazards of the period ahead instead of the opportunities it presents.
—Richard Dobbs, James Manyika and Jonathan Woetzel
Who should read No Ordinary Disruption?
- CEOs, marketing executives and students of business
- Anyone interested in economic development and global finance
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