A Systemic Approach to Continuous Change in the Innovation Economy

The Fourth Industrial Revolution, driven by artificial intelligence, robots, and algorithms, presents unique challenges and opportunities. This book explores the application of systemic thinking in non-standard situations, highlighting the importance of resilience and the interconnectedness of social systems. It offers models and mini-theories to promote systemic thinking and examines the consequences of organizational streamlining in the face of black swan events.

Format: Paperback / softback
Length: 120 pages
Publication date: 29 January 2024
Publisher: Taylor & Francis Ltd

Unpredictable and unforeseen events, often referred to as "black swan" incidents, are becoming increasingly prevalent. A recent example is the COVID-19 crisis of 2020. The Fourth Industrial Revolution, characterized by the increasing use of artificial intelligence, intelligent robots, intelligent information, and intelligent algorithms, holds the potential to assist us in confronting these challenges, but only if we can avoid the sector optimization logic of certain forms of economic thinking.

This book presents a comprehensive exploration of the application of systemic thinking in non-standard situations, particularly those arising from the Fourth Industrial Revolution. It develops models and mini theories to promote systemic thinking at a time when cascades of innovations are entering the economy, coinciding with the occurrence of black swan events that disrupt social systems. It critically examines how organizations and social systems have chosen to prioritize high performance, focusing on cost-cutting and maximizing profits, rather than preparedness elasticity and resource slack. The consequences of this organizational streamlining become evident only when the "black swans loom."

The author discusses how individuals and society can develop the resilience needed to deal with these incidents. He asserts that there are three central social mechanisms that can help us understand how social systems work and how they are interconnected: time-lag, threshold value, and feedback. These three concepts can help us understand how changes occur in non-linear systems; for instance, how small changes at the micro level can lead to significant changes at the macro level.

This book will be of interest to researchers, academics, and students in the fields of economics, finance, business, and information technology. It provides valuable insights into the complexities of modern society and offers practical strategies for navigating the challenges posed by black swan events.

Weight: 453g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032245508