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Five Overlooked Principles Shaping the Destiny of Your Business
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Five Overlooked Principles Shaping the Destiny of Your Business

John Sviokla
Strategy+business, 2016
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Editorial Rating

8

Qualities

  • Innovative
  • Applicable
  • Inspiring

Recommendation

Does your company have what it takes to thrive in the digital age? Through succinct analysis of “Turing’s theory of computability, the Coase theorem of transaction costs, Bell’s law on the birth and death of computer classes, Baldwin and Clark’s concept of modularity,” and “Nakamoto’s law of the distributed ledger,” thought leader John Sviokla leverages the great minds of the 20th and 21st centuries to offer guidance on how to form a winning corporate strategy for the coming years. getAbstract recommends this article to CEOs, executives and business leaders.

Take-Aways

  • English computer scientist Alan Turing anticipated the rise of modern artificial intelligence. Businesses must “redefine themselves” in response to growing computability.
  • British economist Ronald Coase argued that growing companies must “keep their internal transaction costs (their own expenses) lower than their external transaction costs (the expense of doing business with others).”
  • Electrical engineer Gordon Bell says that each time a new class of technology appears, it upends the industry. Companies must respond to change or risk becoming obsolete.

About the Author

John Sviokla is principal and leader of Global Thought Leadership at PwC.

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