Home > Store

Ride the Wave: Taking Control in a Turbulent Financial Age

Register your product to gain access to bonus material or receive a coupon.

Ride the Wave: Taking Control in a Turbulent Financial Age

Book

  • Sorry, this book is no longer in print.
Not for Sale

Description

  • Copyright 2002
  • Dimensions: S
  • Pages: 336
  • Edition: 1st
  • Book
  • ISBN-10: 0-13-067086-3
  • ISBN-13: 978-0-13-067086-1

The ride will be dangerous, but rewarding.

Think the NASDAQ crash was tough? Just wait. In Ride the Wave, Dr. Sherry Cooper-global economic strategist, regular CNBC guest, and former Fed economist-shows how yesterday's predictable business cycles have been replaced with a spiraling, unending roller coaster.

Yes, says Cooper, we are in the early stages of a "long boom": in 20 years, the world will be a far wealthier place. But there will be big losers, too: those who can't handle the terrifying volatility that's coming too. Cooper shows you what's coming, why it's coming, and what you should do to profit from tomorrow's opportunities--and manage tomorrow's daunting risks.

Hypergrowth in the Internet in 2003 Will you be ready for the real Internet and e-commerce revolution? The synchronized global economy What globalization really means—and what it will mean Sex and the economy The massive, hidden economic implications of demographic shifts Nanotech, biotech, photonics, fuel cells, and beyond The next disruptive technologies—and the massive opportunities they portend "Me, Inc." Building your own personal brand in the age of acceleration and turbulence. Today's road to financial security What you must do now to successfully navigate the coming turbulence

Buckle up: you're in for the most turbulent economic ride of your life!

  • How can you invest successfully in an age of unprecedented turbulence?
  • What demographic and technological changes will drive the next economic revolution?
  • What's coming for the global economy?
  • Could the Internet actually make a comeback?

Wild economic times are coming. Exciting times. Dangerous times. They're the harbinger of a radically new global economic and social system, one that will deliver unprecedented wealth. But, before we get there, we'll have to survive years of gut-wrenching economic volatility. In Ride the Wave, renowned economic analyst Sherry Cooper gives you the tools and insights you need to profit in this new age of turbulence—no matter how wild it gets.

Well known for her appearances on CNN, CNBC, and PBS, Cooper makes sense of the "macro-level" trends hidden just beneath the surface, obscured by today's short-term market swings. Cooper brings global sweep and long-term perspective to the causes and effects that really matter. You'll discover how massive demographic, sociopolitical, and technological changes are likely to impact tomorrow's world economy. Most important, you'll learn what it means to you—and what to do about it!

"Sherry Cooper is a dynamo-bright, savvy and plugged into the heart of our turbulent economic times."

—Don Tapscott, author of Digital Capital

"I need Sherry because she keeps me up on the implications on the New Economy, and she provides a good read in the process."

—The Honorable Paul Volcker, former Chairman of the Federal Reserve

Sample Content

Online Sample Chapter

Maybe the New Economy Isn't So New

Downloadable Sample Chapter

Click here for a sample chapter for this book: 0130670863.pdf

Table of Contents



Foreword.


Introduction.

I. SPIRAL UP, SPIRAL DOWN.

Old and New Economy Distinction Blur.
Shock Treatment - The Stock Market Collapse.

II. TECHNOLOGY EXPLOSION.

The Internet Revolution - It Is Still Early Days.
The Best Is Yet to Come - The Knowledge Explosion.

III. THE INFORMATION AGE ECONOMY.

Creative Synergies - The Amazing Expansion.
The Nasdaq Bubble.
The Slowdown Comes.
Maybe the New Economy Isn't So New.

IV. GLOBALIZATION.

The Synchronized Global Economy.
Global Capitalism - Problems and Promises.
The Global Leader in the Technology Revolution -
Will the Lead Narrow?
The U.S. Demographic Advantage.

V. REALIZING YOUR POTENTIAL IN A RAPIDLY CHANGING WORLD.

Taking Personal Responsibility.
The Road to Financial Security.
Endnotes.
Bibliography.
Index.

Preface

Foreword

This is a time of great confusion in business. During the latter partof the 1990s, corporate imagination was swept away by the dotcom wave. The obvious revolutionary power of the Internet waschannelled primarily into myriad start-ups that seemingly challengedincumbents in every industry from bookselling to banking. Venture capitalist financing flowed fast and freely, and many people forgot (assuming they ever knew) about business fundamentals. Momentum investing set in. Alan Greenspan's admonishment of "irrational exuberance" was an understatement. And in early 2000 the bubble burst.

Having been reminded that the laws of business gravity continue toapply, many managers have wisely returned to the fundamentals. Theyare focusing on customer value, creating viable business models andstrategies, and achieving operational efficiencies.

But a return to the fundamentals in itself is insufficient to ensurebusiness success. We cannot just turn back the clock. Many executives Iwork with still believe the Internet has revolutionary significance, which it does. And where will the turmoil in capital markets lead? Must we go through a recession? Business leaders need to understand the newbusiness context before they can develop effective strategies. This is the importance of Sherry Cooper's book. She has few rivals in articulating the big picture within which we must all operate.

My view is that we are not at the end of profound change. We are justbeginning. For decades, the starting point for strategic thinking has been the standalone vertically integrated corporation. These powerfulcompanies do everything from soup to nuts and dominate the competitive landscape. We think of them as intrinsic to the economy and theyprovide the context for theories about competitive strategy.

Internally these corporations have always operated more as planned economies rather than efficient marketplaces, and we are now beginning to appreciate that they were actually clumsy, costly, and inefficient. (Dilbert captures this well.) But during the last century such companies prospered because they were superior to any other model of production. It was cheaper and simpler for companies to perform the maximum number of functions in-house, rather than incurring the high cost, hassle, and risk of constantly searching, contracting, understanding, collaborating, and executing transactions with outside partners.

This is no longer the case. Because of the Internet, a new business architecture is rising to challenge the industrial-age corporation. My colleagues and I call it the "business web," or "b-web," and we define it as any system--of suppliers, distributors, service providers, infrastructure providers, and customers--that uses the Internet as the basis for business communications and transactions. In the most successful business webs, each constituent focuses on its core competence. We have studied hundreds of examples of b-webs, and in industry after industry, these new vehicles for value creation are proving more supple, cost-efficient, and innovative than their traditional competitors.

Because of this, myriad new models have emerged that are different from the industrial age template. Hundreds of successful examples show that companies can now focus on their core capabilities and partner for the rest. Siebel Systems, for example, one of the fastest-growing companies in America, has established a vast partner network to deliver a unique assemblage of customer, supplier, and employee relationship software. Tom Siebel argues that its b-web is the most important element is his company's success, saying, "We only have 8000 people on our payroll, but more than 30,000 people work for us." The relatively small core company creates software products and orchestrates an extensive b-web comprising consultants, technology providers, implementers, suppliers, and vendors that take its products to the global marketplace. The result: 1400 percent growth in the past three years.

The CEO of Boeing says his company is a systems integrator, not an aircraft manufacturer. Dell shifted from classic mass production to a shop production model, introducing entirely new business concepts like the demand chain. LEGO through its Mindstorm robot products brings customers into its business web, enabling them to co-create products. Schwab moved from being a tightly integrated financial services provider to an Internet-based aggregator of financial services and stole huge market share. IBM is a computer company that doesn't manufacture computers--its partners do.

Simply deploying Intranets within corporate walls fails to capture b-web power because they fail to capture the tonic of the marketplace. Most of what companies do is not based on their core competencies. They attempt to build up and "make do" with design, manufacturing, marketing, and other capabilities that are often not best of breed in the open market. Now with the Net, business functions or large projects can be reduced to smaller components and farmed out (often simultaneously) to more specialized companies around the world with virtually no transaction costs.

This harnesses the enormous benefits of the competitive environment. Suppliers strive to reduce costs and increase quality and innovation. They know there are other specialized workers and companies around the world keen to do the work.

By contrast, insisting a project stay in-house often means it is comparatively more difficult to mobilize resources, even with a high-performance Intranet. Employees are pressed into jobs unrelated to their skills, as managers try to "make do" with the workers on hand. Alternately, adding new employees to the payroll is time-consuming and costly. Approvals must be sought, reporting structures developed, workspace arranged, and so on. Every manager knows these internal rigidities increase corporate costs and stifle innovation.

To prosper in today's economy the business strategist needs new tools--including strategic concepts and analytical methods--to comprehend and exploit the unprecedented business architectures suddenly available. This was almost a non-issue when the superiority of the industrial corporation was taken for granted. It was just assumed, for example, that most resources would be internal to the company. A business' human resources strategy dealt with people on the payroll.

Simple. But in the Internet era firms can profit enormously from resources that don't belong to them.

Issues such as partnering, corporate boundaries, distribution channels, industry restructuring, and strategic repositioning are suddenly much more complex. The b-school case studies of five or ten years ago no longer apply. This is why Ride the Wave is such a solid contribution to understanding the new economic context. In the increasingly inter-networked world, business leaders require a firm grip on the total environment in which they are operating. Read and prosper.

Don Tapscott
Co-founder of Digital 4Sight and co-author of Digital Capital: Harnessing the Power of Business Webs

Updates

Submit Errata

More Information

InformIT Promotional Mailings & Special Offers

I would like to receive exclusive offers and hear about products from InformIT and its family of brands. I can unsubscribe at any time.

Overview


Pearson Education, Inc., 221 River Street, Hoboken, New Jersey 07030, (Pearson) presents this site to provide information about products and services that can be purchased through this site.

This privacy notice provides an overview of our commitment to privacy and describes how we collect, protect, use and share personal information collected through this site. Please note that other Pearson websites and online products and services have their own separate privacy policies.

Collection and Use of Information


To conduct business and deliver products and services, Pearson collects and uses personal information in several ways in connection with this site, including:

Questions and Inquiries

For inquiries and questions, we collect the inquiry or question, together with name, contact details (email address, phone number and mailing address) and any other additional information voluntarily submitted to us through a Contact Us form or an email. We use this information to address the inquiry and respond to the question.

Online Store

For orders and purchases placed through our online store on this site, we collect order details, name, institution name and address (if applicable), email address, phone number, shipping and billing addresses, credit/debit card information, shipping options and any instructions. We use this information to complete transactions, fulfill orders, communicate with individuals placing orders or visiting the online store, and for related purposes.

Surveys

Pearson may offer opportunities to provide feedback or participate in surveys, including surveys evaluating Pearson products, services or sites. Participation is voluntary. Pearson collects information requested in the survey questions and uses the information to evaluate, support, maintain and improve products, services or sites, develop new products and services, conduct educational research and for other purposes specified in the survey.

Contests and Drawings

Occasionally, we may sponsor a contest or drawing. Participation is optional. Pearson collects name, contact information and other information specified on the entry form for the contest or drawing to conduct the contest or drawing. Pearson may collect additional personal information from the winners of a contest or drawing in order to award the prize and for tax reporting purposes, as required by law.

Newsletters

If you have elected to receive email newsletters or promotional mailings and special offers but want to unsubscribe, simply email information@informit.com.

Service Announcements

On rare occasions it is necessary to send out a strictly service related announcement. For instance, if our service is temporarily suspended for maintenance we might send users an email. Generally, users may not opt-out of these communications, though they can deactivate their account information. However, these communications are not promotional in nature.

Customer Service

We communicate with users on a regular basis to provide requested services and in regard to issues relating to their account we reply via email or phone in accordance with the users' wishes when a user submits their information through our Contact Us form.

Other Collection and Use of Information


Application and System Logs

Pearson automatically collects log data to help ensure the delivery, availability and security of this site. Log data may include technical information about how a user or visitor connected to this site, such as browser type, type of computer/device, operating system, internet service provider and IP address. We use this information for support purposes and to monitor the health of the site, identify problems, improve service, detect unauthorized access and fraudulent activity, prevent and respond to security incidents and appropriately scale computing resources.

Web Analytics

Pearson may use third party web trend analytical services, including Google Analytics, to collect visitor information, such as IP addresses, browser types, referring pages, pages visited and time spent on a particular site. While these analytical services collect and report information on an anonymous basis, they may use cookies to gather web trend information. The information gathered may enable Pearson (but not the third party web trend services) to link information with application and system log data. Pearson uses this information for system administration and to identify problems, improve service, detect unauthorized access and fraudulent activity, prevent and respond to security incidents, appropriately scale computing resources and otherwise support and deliver this site and its services.

Cookies and Related Technologies

This site uses cookies and similar technologies to personalize content, measure traffic patterns, control security, track use and access of information on this site, and provide interest-based messages and advertising. Users can manage and block the use of cookies through their browser. Disabling or blocking certain cookies may limit the functionality of this site.

Do Not Track

This site currently does not respond to Do Not Track signals.

Security


Pearson uses appropriate physical, administrative and technical security measures to protect personal information from unauthorized access, use and disclosure.

Children


This site is not directed to children under the age of 13.

Marketing


Pearson may send or direct marketing communications to users, provided that

  • Pearson will not use personal information collected or processed as a K-12 school service provider for the purpose of directed or targeted advertising.
  • Such marketing is consistent with applicable law and Pearson's legal obligations.
  • Pearson will not knowingly direct or send marketing communications to an individual who has expressed a preference not to receive marketing.
  • Where required by applicable law, express or implied consent to marketing exists and has not been withdrawn.

Pearson may provide personal information to a third party service provider on a restricted basis to provide marketing solely on behalf of Pearson or an affiliate or customer for whom Pearson is a service provider. Marketing preferences may be changed at any time.

Correcting/Updating Personal Information


If a user's personally identifiable information changes (such as your postal address or email address), we provide a way to correct or update that user's personal data provided to us. This can be done on the Account page. If a user no longer desires our service and desires to delete his or her account, please contact us at customer-service@informit.com and we will process the deletion of a user's account.

Choice/Opt-out


Users can always make an informed choice as to whether they should proceed with certain services offered by InformIT. If you choose to remove yourself from our mailing list(s) simply visit the following page and uncheck any communication you no longer want to receive: www.informit.com/u.aspx.

Sale of Personal Information


Pearson does not rent or sell personal information in exchange for any payment of money.

While Pearson does not sell personal information, as defined in Nevada law, Nevada residents may email a request for no sale of their personal information to NevadaDesignatedRequest@pearson.com.

Supplemental Privacy Statement for California Residents


California residents should read our Supplemental privacy statement for California residents in conjunction with this Privacy Notice. The Supplemental privacy statement for California residents explains Pearson's commitment to comply with California law and applies to personal information of California residents collected in connection with this site and the Services.

Sharing and Disclosure


Pearson may disclose personal information, as follows:

  • As required by law.
  • With the consent of the individual (or their parent, if the individual is a minor)
  • In response to a subpoena, court order or legal process, to the extent permitted or required by law
  • To protect the security and safety of individuals, data, assets and systems, consistent with applicable law
  • In connection the sale, joint venture or other transfer of some or all of its company or assets, subject to the provisions of this Privacy Notice
  • To investigate or address actual or suspected fraud or other illegal activities
  • To exercise its legal rights, including enforcement of the Terms of Use for this site or another contract
  • To affiliated Pearson companies and other companies and organizations who perform work for Pearson and are obligated to protect the privacy of personal information consistent with this Privacy Notice
  • To a school, organization, company or government agency, where Pearson collects or processes the personal information in a school setting or on behalf of such organization, company or government agency.

Links


This web site contains links to other sites. Please be aware that we are not responsible for the privacy practices of such other sites. We encourage our users to be aware when they leave our site and to read the privacy statements of each and every web site that collects Personal Information. This privacy statement applies solely to information collected by this web site.

Requests and Contact


Please contact us about this Privacy Notice or if you have any requests or questions relating to the privacy of your personal information.

Changes to this Privacy Notice


We may revise this Privacy Notice through an updated posting. We will identify the effective date of the revision in the posting. Often, updates are made to provide greater clarity or to comply with changes in regulatory requirements. If the updates involve material changes to the collection, protection, use or disclosure of Personal Information, Pearson will provide notice of the change through a conspicuous notice on this site or other appropriate way. Continued use of the site after the effective date of a posted revision evidences acceptance. Please contact us if you have questions or concerns about the Privacy Notice or any objection to any revisions.

Last Update: November 17, 2020