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Modern management is at a critical juncture, requiring a fundamental rethink of traditional practices. The old paradigms of control and bureaucratic structures are becoming obsolete. Instead of behaving like bureaucrats, managers should adopt the mindset of venture capitalists, fostering adaptability and innovation. The rise of mass collaboration signifies a shift in organizational dynamics, emphasizing the importance of change. Companies that overinvest in the status quo are at risk of failure. Embracing new ways of thinking and operating is essential for future success.
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"Modern" management is nearing its existential moment. • “Everything we learned in the last century about managing large corporations is in need of a serious rethink.” • Corporations are bureaucracies and managers are bureaucrats. • Fundamental tendencies: control, self-perpetuation and resistance to change. • Corporate bureaucracy is becoming obsolete. Why managers should act like venture capitalists • Rise of "mass collaboration" as the new basis of organization. • Change, innovation, adaptability, • "The single biggest reason companies fail, is that they overinvest in what is, as opposed to what might be."
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