Friday, December 26, 2008

Is the American Dream Dead?

How uncertain the world has become. In the last couple of months, all our assumptions about the way things will be and how things operate have all changed and fearfully for the worst.

Recently I came across a book by John Kotter called The new rules. This book was actually first published in 1993 period when the baby boomers were in their prime and booming. This book was actually trying to point to the fact that what lasted in the previous 20 years is not going to continue and the baby boomers need to look at the fast changing landscape if they want to achieve success in their life and career.

Fast forward today and still some of the principles sound very valid for our generation also.

Some of the good pointers from the book

Fact: From 1947 to 1973 Americans were accustomed to an growth rate that would almost double their living standards every 1.6 generations. After 1973 the economy slowed down to a almost a point where it would have taken almost 12 generations to achieve the same.
Contemplating on this how does towards economy look. The last 10 years for us has been good, and now many countries are catching up. Not long ago we could have seen that in countries like India,China etc the standard of living was almost same if not less from grandparents to grandchild. But in the last couple of years these countries have progressed a lot and definitely we are going to see growth in these economies moving forward.

Some of the other rules which are still valid for our generation and for the generation coming ahead.
New Facts
Do not rely on conventional career paths, those which were winners for most of this century will no longer be providing much success.
Keep your eyes glued on globalization and it's consequences;everything is changing offering both gigantic new opportunities and equally large hazards.
New Responses
Small is beautiful, move towards small and entrepreneurial and away from big and bureaucratic;speed and flexibility are winning in an increasingly competitive world.
Help big business from the outside as well as on the inside;huge opportunities exist for consultants and other service providers.
Management is out, leadership is in.
Backbone for all the above
Increase your competitive drive;high standards and a desire to win are essential today and in the future.
Never stop trying to grow, lifelong learning is increasingly necessary for success.

Your thoughts.................


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