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Books > Business & Economics > Business & management > Ownership & organization of enterprises
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A Systemic Approach to Continuous Change in the Innovation Economy (Hardcover)
Loot Price: R3,897
Discovery Miles 38 970
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A Systemic Approach to Continuous Change in the Innovation Economy (Hardcover)
Series: Routledge Studies in the Economics of Innovation
Expected to ship within 12 - 17 working days
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Unpredictable and unforeseen, or black swan, events are occurring
increasingly often, one such recent example is the coronavirus
crisis of 2020. The Fourth Industrial Revolution, with its growing
use of artificial intelligence, intelligent robots, intelligent
informats and intelligent algorithms, may help us to confront these
incidents but only if we can avoid the sector optimization logic of
some forms of economic thinking. This book offers a multi-faceted
presentation of the application of systemic thinking in
non-standard situations, especially those created by the fourth
industrial revolution. It develops models and mini theories to
promote systemic thinking at a time when cascades of innovations
are entering the economy, while at the same time black swan events
are occurring and disrupting social systems. It takes a critical
look at how organizations and social systems have chosen to
organize themselves to develop systems that prioritize high
performance, by focusing on cost-cutting and maximizing profits,
instead of on preparedness elasticity and resource slack. The
consequences of this kind of organizational streamlining becomes
evident only when the 'black swans' loom. The author discusses how
individuals and society can develop the resilience needed to deal
with these incidents. He asserts that there are three central
social mechanisms that can help us understand how social systems
work and how they are interconnected: time-lag, threshold value,
and feedback. These three concepts can help us to understand how
changes occur in non-linear systems; for instance, how small
changes at the micro level can lead to large changes at the macro
level. This book will be of interest to researchers, academics and
students in the fields of economics, finance, business and
industry.
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