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RssBy Jay Maharjan
In October, I wrote an article on “Creativity, Entrepreneurship and the emergence of conceptual economy”. I often get asked by my clients what conceptual economy is and how it is going to affect their businesses. Obviously, the answer is not that simple. If you look at the history, Peter Drucker coined the term “Knowledge worker” in the ’50s and what followed was the era of knowledge economy that still has strong relevance today. The understanding of knowledge workers enabled board rooms across the Western economy to manage the workers better.
We are in the middle of another major transformation. The rise of the conceptual workers and the conceptual economy is around the corner. This new form of economy will demand subject-matter experts, managers, executives and most importantly the entrepreneurs to think conceptually, to come up with creative solutions and to learn to think outside the box. In conceptual economy, an MD will have a 3D design background who designs a model for an organ with deep understanding of medicine, surgery and other side-effects. This same doctor will also have gone to a business school, hence possesses sharp understanding of business that will benefit him while running his practice.
The Art Center College of Design, the prestigeous Design College in Pasadena has teamed up with a leading European Business School based out of France and started offering Art/Business degrees. 10 years ago, when I attended the Art Center, they didn’t offer a single course on business. These are the changing times.
Today, more students are taking classes in multiple disciplines that best complement their interest. Caltechs and MITs of the world are encouraging and enrolling students with expertise and interest in the areas that reach beyond the disciplines that they apply for. As the conceptual economy matures, countries around the world are less defined by how much natural resources that they have, and more by their intellectual strength, creativity and ingenuity of people.
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Tags: Art Center College of Design, Conceptual economy, Knowledge Economy, Knowledge Worker, Peter Drucker, what is conceptual economy
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