The Dynamics Of The Industrial Revolution by Allan Thompson

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Allan Thompson
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The Dynamics Of The Industrial Revolution

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Book review

WHICH INDUSTRIES WILL BE EXTINCT IN THE 21st CENTURY. This book is as close to a crystal ball as you may ever find. It may make the difference between your company s survival and extinction. Reading the future and being able to spot tomorrow s trends today demands a combination of imagination and knowledge. But if companies are to succeed in the new global economy, they will need that and more they will need a guide. The New Industrial Revolution is that guide, a fascinating examination of two defining eras in American business: The Industrial Revolution and today s Information Age. But it goes one step further to help identify changes, trends and the underlying dynamics that will be necessary to incorporate into any company looking to survive in the evolving worldwide marketplace. Benny Madsen and Rob Brownstein, authors of The New Industrial Revolution: The Power of Dynamic Value Chains, characterize today s Industrial Age by micro-technology, digitalization and low-cost global communication. By comparing the first Industrial Revolution with the New Industrial Revolution, they were able to identify the common denominators that separate the business winners from the business losers based on how well they can: Embrace the concept of value chains and modularization Accelerate product or service design, implementation and manufacturing Eliminate redundancy and valueless costs Determine low-cost systems that work faster to produce high-end results Provide consumers with value, choice and quality for less money The New Industrial Revolution breaks new ground as it helps corporate executives and small business owners with the importance of: Identifying an opportunity and being the first to do so Providing a sequence of differentiated products and marketing them effectively Establishing and fine-tuning an efficient distribution scheme Introducing new products to coincide with declining demand for previous ones The consumer electronics industry has led the way, but the pioneering lessons learned will be crucial to the survival of all industries in the 21st century.

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