Summary of Five Overlooked Principles Shaping the Destiny of Your Business

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Five Overlooked Principles Shaping the Destiny of Your Business summary
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Does your company have what it takes to thrive in the digital age? Through succinct analysis of “Turing’s theory of computability, the Coase theorem of transaction costs, Bell’s law on the birth and death of computer classes, Baldwin and Clark’s concept of modularity,” and “Nakamoto’s law of the distributed ledger,” thought leader John Sviokla leverages the great minds of the 20th and 21st centuries to offer guidance on how to form a winning corporate strategy for the coming years. getAbstract recommends this article to CEOs, executives and business leaders.

In this summary, you will learn

  • How computers’ increasing capabilities and the resulting decrease in operational costs will affect businesses,
  • How companies can benefit from embracing “modularity” and new technologies, and
  • How blockchain will revolutionize how secure transactions occur.
 

About the Author

John Sviokla is principal and leader of Global Thought Leadership at PwC.

 

Summary

With digital technologies increasing in importance and prevalence, business leaders must understand and embrace five principles for their companies to thrive in the coming years:

  1. “Turing’s theory of computability” – English computer scientist Alan Turing’s assessment that machines can solve any mathematically calculable problem anticipated the rise of modern artificial intelligence – like robotic lawnmowers – and its growing ability to take over human tasks. While machines may never replace all human workers, businesses must still “redefine themselves” in response to growing computability...

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