Published by ft.com
Reviewed by Imran Rana, EA, CFP
The book Funky Business is an excellent book that provides a unique, and definitely funky perspective on management and the new wave economy -- Internet based. It is a very unorthodox book about organizations, and is worthwhile for tipper and middle managers.
The authors go to great lengths to describe what makes a business "funky" by providing a variety of innovative and out-of-the-ordinary ideas. Today's environment is becoming knowledge based. That makes best business practices move faster than ever before, since information spreads instantly all over the world via the Internet.
One of the ways the economy is changing is in the way we treat workers, since they control the means of production. According to the authors, we had better come up with new ways to organize our companies, new ways to capture the attention of demanding customers, and new. ways to treat our colleagues, bosses and subordinates. We have to motivate them differently, find new ways to evaluate and reward them, train them, in spire, and lead them.
Funky Business further proposes that those businesses that want to be successful in the 21st century must learn to be innovative so they can provide consumers with amazing and spectacular products. In the past, companies focused on efficiency, exploitation, incremental improvements, and mass production. For example, companies competed by making similar products slightly better or cheaper. In the funky-world, business is based on effectiveness, new concepts, innovation and revolutionary changes; that is, learning to be completely different than anyone else. A "funky-company" welcomes people who are prepared to challenge the status quo and to break existing norms and regulations. A funky-company refuses to take part in "look-alike" products. In the future, competitiveness will...