Convergenomics: Strategic Innovation in the Convergence Era

Convergenomics is about the megatrends that are shaping how people behave and organizations work. In this insightful analysis, Sang Lee and David Olson describe how globalization, digitization, changing demographics, changing industry mix, deregulation and privatization, commoditization of processes, new value chains, emerging new economies, deteriorating environment, and cultural conflicts have led to what they define as a convergence revolution. Professors Lee and Olson discuss this convergence revolution from the perspectives of technology, industry, knowledge, open-source networking and bio-artificial convergence, and they explain how human systems are transformed by what they have named convergenomics. Business is now global, enabled and integrated by technology. Mobile communication is becoming as pervasive as the internet. Production of just about anything can be accomplished at places with relative advantages in value creation, leading to massive changes in business models and to the emergence of complex supply chains spanning the globe. The authors acknowledge that we are now struggling to solve complex sets of problems with interacting aims and with growing understanding that we live in an environment with imperfect knowledge. They contend, nonetheless, that understanding convergenomics can lead to innovative strategic approaches and that more agile businesses are already employing these approaches to become and remain competitive and to generate greater value in a world radically changed by e-commerce. The background described in this book is thoroughly researched and practical examples are used to demonstrate what has occurred and what the authors' believe is achievable. Business leaders and 'students' of strategy at all levels will learn from this book how revolutionary developments can be embraced rather than feared, and how technology that is potentially frightening in its complexity can be harnessed and used to enable productive collaboration and gain competitive advantage.