Economic growth is not necessarily found in new markets or industries, but rather in the areas where resources are being wasted. One such area is management, which is often seen as a necessary evil rather than a value-adding activity. The issue lies in the fact that management often focuses on enforcing rules and maintaining the status quo, rather than fostering innovation and growth.
Meanwhile, the rise of the digital economy and the sharing economy has led to a shift in economic power from corporations to individuals. This shift has been enabled by technological advancements, which have made it easier for individuals to access and share resources. This has led to the emergence of peer-to-peer business models, which are more efficient and less wasteful than traditional models.
In this new economic landscape, the role of management should be redefined. Instead of enforcing rules and maintaining the status quo, managers should focus on facilitating collaboration and fostering innovation. This shift in focus could lead to significant economic growth, as resources are used more efficiently and waste is reduced.
Finally, there is a need for a new economic model that recognises the value of individual contributions and rewards innovation. This model should be based on the principles of the sharing economy, which prioritises access over ownership and collaboration over competition.
Go to source article: https://medium.com/@sigrinde/where-to-find-economic-growth-and-why-management-is-a-waste-of-time-88044c1a4492#.gg9dykr3s