The Slow Pace Of Fast Change

Bhaskar Chakravorti

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In Circulation

Innovation's encounter with the market results in a game of both high risk and high stakes. Often its outcome defies common sense: superior new products flop, unlikely ideas become runaway hits, and - despite rapid technological advances and intense interconnectedness change happens at a snail's pace. What really happens during this encounter? How can you increase your own odds on this complex game board?

In "The Slow Pace of Fast Change", Bhaskar Chakravorti peels back the many factors that govern an innovation's penetration into interconnected markets and offers a game plan for successfully steering innovations from the lab to the living room. Chakravorti explains the vagaries of market adoption by highlighting a paradox in the widely celebrated concept of network effects: while everyone loves a great idea, individuals will embrace it only if they believe others will too.

In markets with strong interconnections among participants, this "equilibrium" slows adoption and protects the status quo despite the innovation's clear superiority. To win, innovators must unravel this status quo equilibrium and replace it with one built around their own innovations.

What will you learn from this book

  1. Complexity of Change: The book explores how rapid technological advancements and globalization have created a complex environment where change occurs quickly but its effects are often slow to manifest.

  2. Impact on Society: Chakravorti discusses how these rapid changes impact society, economies, and cultures, often leading to both positive and negative outcomes.

  3. Digital Divide: One key theme is the digital divide, highlighting the disparity between those who have access to technology and those who do not, and the implications this has for global development.

  4. Global Connectivity: The book examines how increased connectivity has transformed industries, business models, and the way people communicate and interact across borders.

  5. Regulatory Challenges: Chakravorti delves into the challenges faced by regulators in keeping pace with technological advancements, and how outdated regulations can hinder progress.

  6. Innovation and Adaptation: The author emphasizes the importance of innovation and adaptation in navigating the rapidly changing landscape of technology and globalization.

  7. Disruption and Resilience: The book explores how disruptive technologies and events can test the resilience of societies, economies, and individuals.

  8. Future Prospects: Chakravorti offers insights into what the future might hold, including potential challenges and opportunities arising from continued technological advancement and globalization.

  9. Policy Implications: The book discusses the implications for policymakers, urging them to adopt flexible and adaptive strategies to address the challenges of a rapidly changing world.

  10. Call to Action: Overall, the book serves as a call to action for individuals, businesses, and governments to embrace change, adapt to new realities, and work towards a more inclusive and sustainable future.

Language English
ISBN-10 157851780X
ISBN-13 9781578517800
No of pages 216
Font Size Medium
Book Publisher Harvard Business School Publishing
Published Date 01 Jun 2003

About Author

Author : Bhaskar Chakravorti

2 Books

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