What's becoming more clear every week is how crisis reshapes business and the professional. Many of us have lived through the vast transitions of the '80s and '90s and watched technology wade into business and bring massive change. Now the global financial world is bringing its massive share of change. Matt Bai, like David Brooks and Tom Friedman, is a writer I love to read. Responding to General Motors' probable "totaling" in the Sunday New York Times Magazine he writes about a number of significant and underlying changes in our culture.
Bai argues rather forcefully that a bankruptcy is not a bankruptcy. In other words, GM leadership has not understood that the American culture does not view a bankruptcy the way it used to. With innovation the central driving factor of economic success, and innovators quite willing to accept bankruptcy on the way to success, attitudes have changed.
By now, the public has become aware that Rick Wagoner, CEO of GM, has resigned. Change has been mandated. But the intriguing cultural insight that Matt Bai surfaces for us business professionals is that in the past 20 years the notion of the infallible organization--the regal organizations of the industrial age--have come to an end. (My wife remembers working in her second summer of college on the staff of the vice-president of GM Overseas, where the receptionist spoke 12 languages--and all resided in the magnificent General Motors Building around the corner from Woodward Avenue, adjacent to the golden tower of the Fisher Building. Talk about regal!).
Bai summarizes his near revolutionary insight this way:
But in the 20 years since Silicon Valley start-ups began transforming the workplace, younger Americans--in other words, those who now make up the heart of the consumer market--have largely dispensed with the mythology of the infallible institution. Transparency and reinvention, rather than stability and regality, are the more valued assets in an economy where entrepreneurs expect to stumble more often than they succeed and where employees expect to have to change jobs (if not careers) multiple times. In the fastest-growing quarters of the economy, admitting your failures and remaking yourself is the new American work ethic.
In the past 25 years, we've watched hierarchy go flat, and transparency among employees become the courageous expectation. And reinvention, well, skills to reinvent your career are becoming key to avoiding obsolescence. And if you're not thinking in those terms, you'd best get moving.
I'm amused to notice, however, that career development has at last caught up with one founding father--Ben Franklin. Franklin for all his womanizing and deceptiveness, is probably the most truly American forefather (In both ways--if you get my drift.). He more than all the rest, epitomizes the ability to change himself. But he became a master at it in a world that Gordon Wood portrays through the words of Jonathan Edwards, where all have,
their appointed office, place and station, according to their several capacities and talents, and everyone keeps his place, and continues in his proper business."
Although Franklin was raised in Boston, clearly he never got Edwards' message. Instead, he was prodigal son and brother, printer, wealthy landowner, founder of a school (Penn, the Ivy), world renown scientist, Ambassador to France, and on and on. Quite the model for our entrepreneurial nation and professionals.
Ah well, what's important is that in our professional life we learn more and more about transparency and reinvention--as the norms of successful business professionals.
So. . . a bit of today, yesterday and commonality. What do you think about all that?