Unintended consequences

by John G. Agno

Published on this site: April 18th, 2005 - See more articles from this month...

Any action or event causes one or more reactions. Many of these reactions appear as unintended consequences of the event or action. Our world is driven by technological innovation. Local and regional markets are being merged into a global economy and causing unintended structural shifts that resonate in the way we live our lives.

Today, we learn of news events, find new jobs & cars, and communicate with each other via the Internet. This causes readership of traditional newspapers to decline while classified and display ads shrink. And since advertisers are what supports the newspaper business, media companies are creating or converting regional newspapers into free publications in an attempt to shore up circulation. As automobile manufacturers shrink in the United States so does their automobile advertising which is a major source of funding for domestic newspapers, magazines and broadcasting. Fifty years ago, the CEO of General Motors said, "What's good for General Motors is good for the USA." The same is true today.

When I started to carry my cell phone with me, I found there was little need to wear my wristwatch. I am not the only person in the world that discovered this duality. Our discovery has reduced the sales of jewelers around the globe.

As the unintended consequences continue to emerge from structural shifts in our world, it is important to be aware that this is not your father's economy. Protect your prosperityduring this transitional time by developing new mental models to become an economic survivor.

For more on unintended economic consequences, go to: http://home.att.net/~coachthee/whats_new/index.html

John G. Agno, certified executive & business coach Signature, Inc., PO Box 2086, Ann Arbor, MI 4810 Telephone: 734.426.2000 (US Eastern Time Zone) Email: mailto:[email protected]