Dec 2005
If you want to know more about how information and communications technology is changing the way we live and do business, one of the excellent books I can give to you is “ The World is Flat: a Brief History of the 21st Century” by New York Times correspondent Thomas Friedman. This book is not only reaching over one million copies in sales and on top of the best seller list, but most important, is that who is reading it?
This book is being read by heads of states and CEO because it outlines how technology will change the balance equation, and on it also a blueprint on how a government decision maker should pattern their policies in order to benefit best from the ongoing ‘flattening’ of the world.
The underlying condition of course, is that globalization is resulting in a lowering of barriers, and according to Mr. Friedman, “ Given the ease with which capital can move to the smartest, most efficient, most reliable work force, having more skilled and capable workers than the next country becomes essential for attracting and holding the best jobs for the longest time.”. Only by having the best educated and capable work force will a company, or a country at that be able to compete.
Another reading that you should not missed is Newsweek, which has come out with an excellent 2006 special edition entitled Knowledge Revolution. IN here, you will find various article penned by such leading thinkers, statesmen and businessmen as Thomas Friedman, Tony Blair, Bill Gates, Craig Barrett, Tim Berners Lee, John Chambers, Lou Gerstner, Jeff Immelt, Lee Hsien Loong, Sam Palmisano, Eric Schmidt and others. I will put in snippets of their observations in the coming days. Of course, you will see that other than heads of state, the overwhelming CEOs that are writing this are from the technology industry.
Some of the ideas, which I quote:
1. The popular Idea that America is one step smarter and more sophisticated than its rivals is a dangerous myth …. the United States not only has a deficit on commodities and cheap manufactured goods, it also has a deficit on agricultural products and high tech products…. From a surplus of $30 billion in 1998, the high tech trade currently runs at a deficit of $40 billion. This comes from Clyde Prestowitz, the president of Economic Strategy Institute, and outlines that America may have some difficulty keeping up the technology leadership as various countries compete head on with them on the knowledge front.
2. We have to understand that competition can’t be shut out. In the end, it can only be beaten…. Success will go to those companies and countries which are swift to adapt, slow to complain, open and willing to change. This comes from Tony Blair, UK Prime Minister and outlines that at the end, it is not legislation but the capability of the workforce that will allow the country to triumph. So notwithstanding, I think it brings focus to the status of our education industry, and what we need to do at all cost to make sure that we continue to have excellent education.
3. Amid a great information explosion, the share of knowledge that the world puts to good use is falling. History tells us this will end badly. - This is from Danny Quah, professor of economics at London School of Economics. It outlines that notwithstanding the information glut, it is still our ability to put all these information and data to good use that is important.
Wilson Ng keeps a blog of his articles at www.ngkhai.net/bizdrivenlife