22:48
aaronchua
I have been reading about a bunch of new concepts and I want to take a moment to put it down in some form of order. There is no precise logic except that I feel they will be important areas in the years to come.
Measuring the currently unmeasured: More and more, I come to accept that new forms of value creation is taking place without the proper mechanisms to capture and value it. The current reliance on monetary measurement masks some very real value that are being created. A good example is to look at social interactions, which are helping us filter and find the right content and connections. How will these value be captured?
Hence, I believe that there are opportunities in measuring values that are important but do not yet have a monetary measure. Amee is a good example of accounting for non-financial value. What other areas need such accounting?
Attention: How do we measure what gives us the best return for our attention? In the world of exploding content, maximising attention is the most powerful way to creating value. However, if we have no way to measure it, how do we maximise it?
Social Capital: How do we measure the value of helping people find the right connections that plug structural holes in our competency network?
Social influence: Related to the above is the concept of social influence. This has powerful implication for next generation marketing and branding. Xtract is the leading player in this field.
Human Capital: How we measure the lifetime value of a singer or artist? Is it beyond the expected value of their income? How do we capture the rest of the value these creatives bring to our lives?
This is not exhaustive as I am sure there are many other non-financial related value that needs measuring and capturing.
Related:
Alvin Toffler's interview had a powerful observation that 'more and more economic activity take place through processes that do not involve the exchange of currency'.
Talent development for next generation businesses: The next generation businesses need to learn and adapt continuously in face of the hyper-connectivity that charcterised our current business landscape. Ethan Bauley pointed out a truly great comment made by John Hagel and John Seely Brown (who is our international advisor btw) that 'companies will re-imagine themselves as places where talented individuals thrive'.
This means a total redefinition of what talent development means in organisations. The first implication is of course to throw out the idea of having a talent development unit. Instead, we need to think about ways to rebuilt how talent is truly developed via connections to the resources at the edge, connections to different organisational comptencies that plugs their gaps, connections that increases cognitive diversity and brings about unexpected learnings et al. All these are rich areas for a new breed of talent development companies to think about and to create new products/services upon.
Democratised pricing: Prices are the powerful coordinator of resources. However, when they are drained of information, it can prevent the development of new forms of more efficient markets.
Hence, if you can create pricing that is reflective of real market forces, you have the potential to unlock new markets. That is why Radiohead's open pricing was such a powerful innovation. For any industry that is crippled by uninformative prices, there is now opportunity to use open pricing as a way to unbundle true demand and in the process, reveals segments of markets that are unseen before.
Valu Valu is one to watch in this space (Hat Tip to Ethan Bauley).
Expect more in the coming weeks as I continue to explore these areas.
Posted in: idea generation
