TALKING
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We need to look beyond simplistic P & L to consider the entire balance sheet of a company .
I ’ m not suggesting CEOs or businesses shouldn ’ t offshore , or leverage the power of automation , or anything else for that matter . I ’ m suggesting they make these important decisions – which have huge implications for people , the long-term value of the company and collectively the economy – with a balance sheet mindset . by his counterparts , governments and industry to the detriment of people .
New ways of thinking , including the concept of Doughnut Economics , which better considers the people and the environment in line with the economy , are starting to gain prominence . We need to recognize that we ’ ve made some mistakes and narrow-minded decisions along the way , and we have a chance to change tack before longterm technological changes take effect .
It ’ s vital businesses and CEOs , and the consultancies they depend on , consider this in light of the very different nature of the world we ’ re entering . This isn ’ t about left versus right – it ’ s about smart delayed gratification to better satisfy the whole . p
This means consideration of bottom-up , not just top-down . It means identifying and understanding the people in an organization and bringing their passions and purposes centre stage .
In a broader sense , this is a move away from ‘ blackboard economics ’, a term coined by late economist Ronald Coase in criticism of the narrow , macro-economic-dominated view often implemented
BIOGRAPHY
Jarrod McGrath is author of The Digital Workforce and CEO of global human capital management consultancy Smart WFM . The second edition of The Digital Workforce is launching in June .
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