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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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The Corporation in the Twenty-First Century summary
John Kay
Why (Almost) Everything We Are Told about Business Is Wrong
18 mins
Brief summary
The Corporation in the Twenty-First Century examines how corporations should evolve in response to economic and societal changes, emphasizing a shift towards more sustainable and socially responsible business practices to remain relevant and successful.
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The Corporation in the Twenty-First Century
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Collective intelligence drives human progress
The word “corporation” comes from the Latin corpus, meaning “body,” and is typically defined as an organized group of people acting in common. Corporations, like tribes, guilds, universities, and nation-states, are part of a long history of human collaboration – allowing us to achieve things collectively that we couldn’t accomplish alone.
The power of collective knowledge is evident in many areas of life. Take Wikipedia, for example. One person might know a lot about butterflies but little about bridges, while a civil engineer may be well-versed in structures but clueless about Turkish grammar or tort law. Wikipedia thrives because a group’s combined knowledge far exceeds that of any individual – one of the key benefits of collective knowledge. At its core, this is about efficiency, many hands making light work. But collective effort goes beyond just pooling information. When shared knowledge is transformed into problem-solving capabilities, it becomes collective intelligence, the driving force behind innovation and progress.
Consider the history of running. For thousands of years, human speed barely changed. Then, in the twentieth century, records started shattering. The first Olympic marathon winner in 1896 took just under three hours to complete 25 miles. By 2019, Eliud Kipchoge ran 26 miles in under two hours. At the New York City Marathon today, it’s not unusual for 2,000 or more runners to finish in times that would have won gold in 1896.
What explains this dramatic progress? One key factor is that we now know much more about running. But two other forces also played a role. First, the rise of a commercial market for running fueled investment, encouraged specialization, and expanded participation. What was once an amateur pursuit for European men evolved into a global professional sport, dominated by East and West African athletes. Kipchoge, a Kenyan who wears American running shoes and consults Dutch sports scientists, embodies this transformation. Second, competition fostered cooperation. Organizing marathons – let alone the Olympics – requires massive coordination, drawing together organizers, sponsors, scientists, and athletes. This infrastructure enables runners like Kipchoge to turn shared knowledge into new capabilities.
That, in short, is how humans got faster. But it’s not just running. Collective intelligence also explains how we got better at, well, pretty much everything.
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What is The Corporation in the Twenty-First Century about?
The Corporation in the Twenty-First Century (2024) takes a fresh look at the evolving role of modern businesses. It explores how the shift from physical production to intellectual capital is transforming the way value is created, challenging traditional measures of success and reshaping corporate structures. As products and production become increasingly digital and knowledge-driven, it argues that businesses must adapt to thrive in this new economic landscape.
Who should read The Corporation in the Twenty-First Century?
- Students and researchers exploring how corporations shape society
- Anyone interested in economic history and human progress
- Professionals wanting a fresh perspective on business and innovation
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