In The 100-year Life, Lynda Gratton and Andrew Scott refer to a French fable in which a nymph, Ondine, curses her husband Palemon: as long as he is awake, he will breathe; as soon as he sleeps, he will die. From that time on he spends every moment in frantic activity, fearing death. Will an extended three-stage life be like this—entailing constant work, boredom, and missed opportunities—or full of possibilities?
For much of human history, life was well described by Thomas Hobbes’ famous quote as ‘nasty, brutish and short.’ However, continued scientific, economic, and social progress over the centuries has raised living standards and life expectancy. Whilst these benefits have not been spread equally across countries, or even within countries, in general, life is now less nasty, less brutish, and certainly less short. The challenge now is to ensure that this progress continues in the face of growing longevity.
Over the last 200 years, best practice life expectancy has increased at a near constant rate of more than two years every decade. In 1900, life expectancy in India was 24 years, compared to 49 years in the US. By 1960, the US’s life expectancy had risen to 70 years while India’s had only risen to 41 years; the gap in longevity between these two nations was widening. However, as India’s economic success picked up, the gap narrowed. By 2014, India’s life expectancy was 67 years and the UN demographic forecasters estimate that this should increase at the rate of around two years every decade. India may start with a lower life expectancy than the US, but it is rising in much the same way. In many countries around the word, the same is true—the 100 year-life is becoming a global phenomenon.
What does this extending arc of life mean for people, and how can government best respond? In many countries, the main focus of governments is on dealing with ageing and end-of-life issues such as pensions and healthcare. But longevity is not just about ageing—it has crucial implications for all ages. Already people are marrying and having children later, creating mid-career breaks, taking time out to explore, building their own businesses, going back to education. This is already leading to a redefinition of age—how many times have you heard that 70 is the new 60, or 40 the new 30?
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Building A Quality Culture
A strong company culture defined by its values, beliefs, and behaviors, has a profound impact on its products and services. More so in today’s VUCA world, where to stay relevant and maintain a competitive edge, it is critical for organizations to build a culture that focuses on quality. Suresh Lulla, author of Quality Fables, elucidates through significant examples how creating a culture of quality is imperative to driving success and productivity.
Customers For Life
The history of General Motors in India can be traced back to the 1920s, when it became the first automotive company to set up an assembly plant in the country. The relationship since then has not been as fruitful as GM would have hoped. GM’s flagship brand, Chevrolet, was introduced in India to build upon the success of the popular Opel marque. However, success has been fleeting at best—an issue that GM India is determined to rectify. It aims to do so by adopting a two-pronged approach: using customer feedback to influence product development, and delivering a superior sales-to-service experience.
The Digital Shift
… technology will radically disrupt HR in the near future. Indeed, it is already changing the way HR works and the role it plays and opening the door to a new type of “digital HR” function.1 The rise of digital and social media is changing the dynamics of HR and creating new ways of hiring, engaging, and retaining employees.
The Story Of Telling
“The best brands are built on great stories,”* this remark by Ian Rowden best captures the strategy of diligent brand building. Much more than attractive logos or the products themselves, what builds a brand is how successfully a story is woven around it. Brand marketers have to be good storytellers indeed.
Complexity Is Simpler Than You Think
Kay Kendall and Glenn Bodinson, authors of Leading the Malcolm Baldrige Way, shatter myths about excellence models such as Baldrige and EFQM.
Proponents of Isolation Never Become Victors
Multilateralism in the political and economic space has always led to frameworks that favor the mighty. WTO was no exception. With agriculture kept out of its purview, it could never become a truly fair and free trading system. China was the only large emerging economy that exploited relative openness in low-cost manufactured goods to take full advantage of the system. Other emerging economies could at best garner minor gains.
A History Lesson (From Year One) for Trump and the Brexit Crowd: Isolationism Has Never Worked!
Professor Stephane Garelli on growing isolationism.
A Win-Win Game
Business is not a sport where some stakeholder has to lose or fare badly for others to do well. Building an atmosphere of trust and transparency between all stakeholders will help companies retain them even during adverse times.
A Sustainable Model
With a total market value of $4.3 trillion and an employment base of at least 1.3 million direct employees and millions of others indirectly employed, platforms have become an important economic force.*Companies today are constantly looking for ways to build platforms—Infosys Ltd announced its plans of monetizing its platforms to make them a $2 billion business by March 2021. But are all platform businesses successful?
Custom Made
…three in four consumers said they receive too many emails from brands, and one-fifth said they could not handle the current volume…69 per cent have ‘unfollowed’ brands on social media, closed their accounts or cancelled subscriptions.*In these times, when the market is flooded with products and services, the most efficent way to engage customers is to offer them customized content. To achieve this, brands need to focus on observing the nuances of individual preferences.
