About Eli
l came of age in the late 1970s/early 1980s. I am part of the first generation to become acclimated with home computers, video games, and all things digital. When I graduated college back in 1991, I entered the workplace in a recession. Many of you may recall the line from the 1992 Presidential Elections "it's about the economy stupid!" Yes, indeed it was. I have been in the workforce for 30 years. Throughout this time, I have been a participant and survivor of several economic cycles. This includes the innovative Internet explosion from 1993 - 2000, as well as the sobering "Dot.bomb" recession that followed. I learned the meaning of value and "non-value" by working with web-based companies that popped up and disappeared overnight. I have plunged into the sub-prime crisis and eventual Great Recession of 2008 which saw to the collapse of banking institutions, the job market, and sovereign debt on a global scale. During that time, I have done work for large global institutions such as the U.N. European Union, and G20. More recently, I have - along with everyone else - watched as the world fell victim to the COVID-19 pandemic and the economic and social problems that have occurred in its wake.
Why is this helpful for you to know? Well, I like many of you, I learned a lot of lessons from the recent history I have lived through:
1. It's 90% about people - The success of any organization or project from the most grand to the least critical rests almost exclusively on people. Are teams organized? Do they understand the mission, their roles, and objectives? Are they trained to perform their work (and do they have access to the knowledge and information they need)? Are they motivated to give it their best? These are not easy tasks to fulfill; yet, they make for cooperation, innovativeness, and attention to quality.
2. There are many different types of "resources" - organizations need much more than just financial capital to get things done. There are other kinds of capital we must master: informational capital, knowledge capital, industrial capital, social capital, cultural capital, and of course human capital. Throwing money at problems is not the answer in itself. We must look harder to innovate and solve problems: we must look at everything and everyone available to us.
3. It's not about just creating . . . it's about creating value - Many organizations can create products and services. Many organizations can create ideas and knowledge. However, what we should be focused on is more the creation of value. What do people really need? The problem with modern technology and the vast marketplace for goods and services is overwhelmed consumers. The marketplace is cluttered with gimmickry, non-necessity, and imitators upon imitators. Organizations need to take a step back and consider how they can create things of real utility. This involves critical thinking, intense self-scrutiny, and understanding of history.
4. Thinking inside the box is just as important as thinking outside the box - It's true we need to be creative and think outside the parameters of what we have learned and what we are told. But it is less obvious these days to consider the reverse logic: that sometimes we have to make do with only what is available in terms of resources, legal and regulatory constraints, and extremely limited time. With this mentality, innovation is less about reinventing the components at our disposal but rather finding new ways to combine them.
5. Technology is king - Who can argue with the importance of new technology? The appliances of the Information Age (e.g. computers, hand-held devices, digital media, etc.) have transformed every aspect of civilization from productivity to commerce, socialization, entertainment, government, and education. For most organizations the challenge of technology has three dimensions: 1) selective utility, 2) adoption, and 3) timing. Selective utility is about investing in only those specific technologies that will provide the most immediate and long-term benefits as opposed to embracing everything available. Adoption is about understanding the most cost-effective and practical ways to establish new technologies in an organization. Timing is all about when - based on changing costs, anticipated needs, and marketplace demands - new technologies should be introduced to an organization's people, processes, and culture.
Why is this helpful for you to know? Well, I like many of you, I learned a lot of lessons from the recent history I have lived through:
1. It's 90% about people - The success of any organization or project from the most grand to the least critical rests almost exclusively on people. Are teams organized? Do they understand the mission, their roles, and objectives? Are they trained to perform their work (and do they have access to the knowledge and information they need)? Are they motivated to give it their best? These are not easy tasks to fulfill; yet, they make for cooperation, innovativeness, and attention to quality.
2. There are many different types of "resources" - organizations need much more than just financial capital to get things done. There are other kinds of capital we must master: informational capital, knowledge capital, industrial capital, social capital, cultural capital, and of course human capital. Throwing money at problems is not the answer in itself. We must look harder to innovate and solve problems: we must look at everything and everyone available to us.
3. It's not about just creating . . . it's about creating value - Many organizations can create products and services. Many organizations can create ideas and knowledge. However, what we should be focused on is more the creation of value. What do people really need? The problem with modern technology and the vast marketplace for goods and services is overwhelmed consumers. The marketplace is cluttered with gimmickry, non-necessity, and imitators upon imitators. Organizations need to take a step back and consider how they can create things of real utility. This involves critical thinking, intense self-scrutiny, and understanding of history.
4. Thinking inside the box is just as important as thinking outside the box - It's true we need to be creative and think outside the parameters of what we have learned and what we are told. But it is less obvious these days to consider the reverse logic: that sometimes we have to make do with only what is available in terms of resources, legal and regulatory constraints, and extremely limited time. With this mentality, innovation is less about reinventing the components at our disposal but rather finding new ways to combine them.
5. Technology is king - Who can argue with the importance of new technology? The appliances of the Information Age (e.g. computers, hand-held devices, digital media, etc.) have transformed every aspect of civilization from productivity to commerce, socialization, entertainment, government, and education. For most organizations the challenge of technology has three dimensions: 1) selective utility, 2) adoption, and 3) timing. Selective utility is about investing in only those specific technologies that will provide the most immediate and long-term benefits as opposed to embracing everything available. Adoption is about understanding the most cost-effective and practical ways to establish new technologies in an organization. Timing is all about when - based on changing costs, anticipated needs, and marketplace demands - new technologies should be introduced to an organization's people, processes, and culture.
© 2020 Eli Khazzam