Restoring the Global Economy: Starting Today!
Prognosticators of the future, including this one are speculating on the Post-Covid-19 world. As with every disruptive crisis, things change going forward. This one will be no different and will probably accelerate certain trends, end some and generate many new opportunities. Some industry sectors and many organizations will need to transmute the way they do business.
One thing that will not change is our dependencies on one another both for business and the global society in general. We may modify our supply chain procedures, work more remotely, change training and education processes and so forth and so one.
The use of certain information technologies and the need to protect them from maleficent (computer) viruses will most likely explode. The oil and gas sector will restructure itself as it has many times over its history. Winners and losers will emerge.
There is a major underpinning for all of this—Cross Cultural Interactions. In this new world order successful organizations (including governments) that develop and sustain a Strong Bond Governance model can thrive. Others that do not will most likely struggle. We first made this case when the oil and gas Deepwater sector was struggling post Deepwater Horizon and again during the last oil price crash.
Building a Strong Remote Working Culture and Brand
Probably the trend towards more Remote Working will accelerate after the Covid-19 crisis passes. To the extent an organization prepares its ecosystem for this transformation it may secure competitive value.
Many industrial organizations are not early adopters of technology. Their preference is to let others lead and implement later in the technology life cycle. While this approach worked for many in the past, it may not be the best strategy going forward.
In 2004, we posited that Early Adopters actually captured the most value from new technology. Integral “Calculus tells us that the area under the curve is approximately the sum of the areas of inscribed rectangles.”
Adjusted for risk, this hypothesis is supported by mathematics. Check it out, it might work for your organization.
As stated in our last blog, there are underly concerns when vast numbers are working remotely for long periods of time. One suspects there will be some media reporting on not just the technical difficulties but the human issues working remotely.
At one level, there appears to be a clash between the value of early adoption and human challenges of remote work. Management must be aware of this challenge and put processes in place to address real human concerns.
Enhanced Cross Cultural & Diversity Training
Organizations continue to be diverse including a number of cross-cultural characteristics based on geography, division, etc. Managing diversity and cultural challenges are more acute when working remotely.
To build this strong culture and be known as a ‘thought leadership’ organization requires training. As we know, training can be online and not just workshop or classes.
We humans can interact with each other in a meaningful way playing a serious game. Our Cloud based Cross Cultural Serious Game enables diverse individuals and teams to engage in real world scenarios from remote locations. We have found this type of training to be invaluable for diverse and remote team interaction.
The expected increase in organizational restructuring will lead the merger and acquisition activity in the near future. This cross-cultural training tool can add value therein as well.
How will YOU position yourself for the next step?
For More Information
Please note, RRI does not endorse or advocate the links to third-party materials. They are provided for education and entertainment only.
For more information on Cross Cultural Engagement, check out our Cross Cultural Serious Game
We will be presenting, Should Cross Cultural Serious Games Be Included in Your Diversity Program: Best Practices and Lessons Learned at the Online Conference, New Diversity Summit 2020 beginning April 5, 2020. Check it Out!!
You can contact the author as well.
Critical Mass: Value from the RBC Framework
Nuclear physicists define the term, “critical mass” as the amount of fissile material whereby a nuclear reaction is self-sustaining. From that original definition, the construct is further developed along societal and political terms as a function of the environment and number of adopters and their interdependencies that create enough of a consensus for individual actions that sustains an undertaking.
In 1996, the author published the first of several case studies on a societal interaction model based on the Relationships, Behavior and Conditions (RBC) construct among economic actors. Previously the model was only in the domain of academia.
This blog addresses contemporary issues from the RBC perspective and whether in the present state they are sustainable or not. Many readers may be familiar with the “Innovation Adoption Curve.” RBC seeks to enlighten the causality of behaviors that cause movement towards the critical mass that generates movement along this diffusion curve.
- Is Big Data Analysis Being Applied? March 24, 2020
- Restoring the Global Economy: Starting Today! March 23, 2020
- Home Base During a Crisis: ‘get up, clean up, and dress up’ March 16, 2020
- To KISS or Not? March 9, 2020
- Freidman v Keynes February 19, 2020
Other Blogs by Dr. Shemwell
Dr. Shemwell is an author/contributor for the following 3rd party blogs.
So, You Want to be an Entrepreneur
Dr. Shemwell is a member of the Global Energy Mentors (GEM) Leadership Team. Every month he or one of his colleagues is posting timely tips to help entrepreneurs navigate the energy start up sector. Check out the Landing Page.
Governing Energy Blog
BTOES Insights is the content portal for Business Transformation & Operational Excellence opinions, reports & news. Dr. Shemwell is a contributor.
Consult 2050 connects organizations with a wide range of consultants all around the world. The firm operates an online marketplace for consultancy services.
Essays on Business and Information
This two volume set covers a series of newsletters and opinion pieces published circa 2002-2009, including Bug Lore–Lessons for the Online Economy that addressed real time systems vulnerabilities from Y2K (1998-99).
About the Author
Dr. Scott M. Shemwell has over 30 years technical and executive management experience primarily in the energy sector. He is the author of six books and has written extensively about the field of operations. Shemwell is the Managing Director of The Rapid Response Institute, a firm that focuses on providing its customers with solutions enabling Operational Excellence and regulatory compliance management. He has studied cultural interactions for more than 30 years—his dissertation; Cross Cultural Negotiations Between Japanese and American Businessmen: A Systems Analysis (Exploratory Study) is an early peer reviewed manuscript addressing the systemic structure of societal relationships.