« The quirkiness of innovation | Main | The power of print media »
May 16, 2005
Greenspan on the need to share information
Everyone is rightfully focusing on the core message of Alan Greenspan's commencement address yesterday at Wharton about the need to act ethically (and on his positive view of Sarbanes-Oxley).
But hidden in that speech is an insightful tidbit on the need to share information in today's economy:
A decade ago, senior officers of a corporation could tightly control, if they chose, access to key information systems. Those senior officers could have far greater knowledge of the workings of their business than others and, as a consequence, were less subject to challenge when making day-by-day tactical and strategic decisions.
Arguably, with information systems now accessible to broader ranges of managers and other employees, the monopoly power that proprietary information affords has been significantly reduced. Moreover, the availability of vital information now often extends beyond the borders of the company to suppliers and customers as well. A generation ago, for example, a purchasing manager rarely divulged to a supplier the state of the company's inventory position. It was presumed that such information in the hands of suppliers would undermine the bargaining position of the purchasing manager. Today such information is broadly and routinely shared to facilitate just-in-time supply systems.
In other words, sharing is good.
And just so we don't forget Mr. Greenspan's core message:
material success is possible in this world, and far more satisfying, when it comes without exploiting others. The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
Words to live by.
Posted by Ken Jarboe at May 16, 2005 12:09 PM
Trackback Pings
TrackBack URL for this entry:
http://www.athenaalliance.org/mt/mt-tb.cgi/134