a PDF summary of the technology convergence - Hay Group

Leadership 2030 | The future of leadership
Technology
convergence
Harnessing technology to innovate
The nature of leadership will have to change dramatically if organizations are to harness
the benefits and counter the negative effects of the six megatrends identified by Hay
Group as likely to have the greatest effect on organizations and their leaders over the
coming decade. Here we examine the organizational and leadership implications of one
of these megatrends, technology convergence >>
Miniaturization and virtualization will drive the
convergence between nano-, bio- and information
technologies and cognitive sciences, spurring innovation
and accelerating research and development in many
fields. ‘NBIC’ technologies are already driving rapid
advances in medicine, energy, environmental protection
and production processes, and their potential for
transforming other areas is huge.
©2011 Hay Group. All rights reserved

Technology convergence: harnessing technology to innovate
Organizational implications
Actionable knowledge of complex technologies will
become a key business competence, even in nontechnological
fields. Such knowledge is critical to guard
against the risk that the focus on marketable results might
come at the expense of fundamental but costly market
research. Indeed, the complexity of NBIC makes intercorporate
knowledge exchange vital, and ‘business mashups’
(collaborations and cross-sector partnerships) will
become more common. Companies will have to adapt to
survive, and their readiness to integrate other players in
corporate endeavors will lead to more open structures and
de-compartmentalized organizations – and, ultimately,
converging markets.
leaders must know enough
to be able to recognize
and evaluate the potential
of any new technology
Leadership implications
Despite their lack of detailed knowledge, leaders must be
open to – and advocates of – visionary ideas, encourage
innovation and collaboration and act as orchestrators of
expertise from within and outside the organization in order
to harness the potential of converging technologies. They must
be open to value-adding partnerships on all levels, and the
decision to build or buy expertise will become a key issue in
R&D management. Leaders may not be experts themselves,
but they must know enough to be able to recognize and
evaluate the potential of any new technology, to act as
mediators between collaborating institutions and scientific
fields, to keep projects focused and to hold the ring between
the competing views of different team members. In doing
so, they will have to work through informal influence across
functional and organizational boundaries. This requires them
to collaborate, to welcome different points of view, to tolerate
ambiguity and to create and role-model trust and openness.
It is also crucial that they help to counter concern and
anxiety among both the public and employees about
these new technologies, because their acceptance will
increasingly determine the success or failure of innovations
and new products.
About Hay Group
Hay Group is a global consulting firm that works with
leaders to turn strategies into reality. We develop
talent, organize people to be more effective and
motivate them to perform at their best. Our focus is
on making change happen and helping people and
organizations realize their potential.
We have over 2600 employees working in 84 offices
in 48 countries. Our clients are from the private,
public and not-for-profit sectors, across every
major industry.
To find out more about how to prepare your
organization for the leadership challenges that lie
ahead, contact your local Hay Group office through
www.haygroup.com
©2011 Hay Group. All rights reserved