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Home arrow Communication arrow Value Creation and the Internet of Things: How the Behavior Economy will Shape the 4th Industrial Revolution
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Leadership in the Behavior Economy

CARL HASTRICH

New models of value creation, on digital platforms, shaping new experiences and information flows, drive the emerging business paradigm of the behavior economy. In this marketplace new competitive spaces for businesses are emerging rapidly, disrupting the established models, with new billion dollar companies being built around technologies that barely existed a decade ago. These companies emerged by enabling new engagement models, taking advantage of behaviors that did not exist prior to their invention.

These new ecosystems of interconnected data, and the platforms that host their activities, transform information into desirable experiences that are fundamentally disrupting the status quo economic model of production and consumption. As discussed earlier in this book, generating revenue by producing an item that someone hopes to 'have' is no longer enough, and has not been enough for a number of decades. The behavior economy is now transforming every facet of daily life, where producing an experience that someone desires to 'be' involved in creates value (Figure 13.1).

As the economic landscape shifts from a linear industrial archetype to a networked behavior model, the thinking of a high-impact business leader requires intellectual sophistication like never before. In the next couple of pages I will examine leaders who have built companies around visions of the future, in order to identify core attributes that should be developed in future leaders of the behavior economy. Three questions guide this examination:

  • • Who are the influential leaders shaping the behavior economy?
  • • What is the future of leadership in the behavior economy?
  • • What are the desired leadership qualities in the future behavior economy?
Modes of consumption

Figure 13.1 Modes of consumption

 
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