When existing models crash, we become clueless as to what's wrong. Is it our mistake, or is the system itself breaking down? Whose mistake is it? This "collapse" of existing models leads to tremendous confusion, and eventual redemption or death.
Today, the world is facing a crisis in all three main spheres - Economic, Natural, and Political. Let me list the major aspects of these crises
- The accepted academic fact that "CAPITALISTIC ECONOMIC MODEL" driven by the West (especially America) is the best model of growth, social happiness and mankind's future has been shattered badly.
- The political hegemony of the West has been challenged hugely by many nations. Continuous failure of many big adventures has shattered the myth that anything that the West (led by the US) does will succeed. People now believe that the West can fail politically as well.
- Global warming, and the utter failure of nations to do much about it, has brought a sense of agony and helplessness in the minds of right thinking citizens. Many openly say that the world may not have more than a century of safe living conditions for its denizens.
Creative Destruction is the process where the existing models get destroyed, and then rebuilt totally into something radically different, by a conscious process. The people who run a system that's broken-down realise that it will no longer serve the purpose, and hence set about redesigning it. So what we saw in the US elections was a small glimpse of this - Obama promising to rebuild a broken system. I call Creative Destruction a "wildfire of hope" because just like a jungle fire, it first destroys everything, then from the nutrients available post-destruction, it rebuilds everything, and often it turns out to be better that the past :-)
The key aspects of Creative Destruction are
- it's a conscious process - the people in charge know what they are doing
- it's a result-oriented process - people know what they want at the end of it
- it's a defining process - entire model gets redefined, restructured, rebuilt
- it's a painful process - not many agree to it, and not many have the guts to pull it through till the end, till results emerge
- it's a process of compromise - you have to make compromises to make things work
- in personal lives - yes! you can undertake it at a personal level
Suggest two names (of nations, companies, organisations..) that are in big trouble right now, and who/that need to take on a conscious process of Creative Destruction to rebuild themselves, in order to remain relevant in times to come. You must post your answer as a comment to this post, and against each name, must mention the reason you feel they need to do this. Also suggest what you think is the best route ahead for the 2 names you suggest.
Deadline for commenting: 72 hours from this post appearing.
The best anwer (one) as judged by me will win a collection of management books from my personal library worth Rs 2000=00, alongwith a certificate with my signature. Sounds great? Go for it!