Reinventing Capitalism in the Digital Age

Venue: Vienna Hilton Plaza, Schottenring 11, 1010 Vienna, Austria. The workshop is available to both attendees and non-attendees of the Drucker Forum conference. (No fee, but places are limited)

This interactive workshop shows how to spark the entrepreneurial spirit in the digital age. It builds on the fact that the most successful firms in the world today are those that have taken to heart the 1954 maxim, on which Peter Drucker repeatedly insisted: “There is only one valid purpose of a corporation: to create a customer.” The result—customer capitalism—differs fundamentally from industrial-era management, and is key to the digital transformations that most large firms are now attempting. This workshop explores both the “why” and the “how” of customer capitalism and examines the transition journey from industrial-era management.

More on the Drucker Forum workshop

The workshop builds on the findings of Steve Denning’s forthcoming book, Reinventing Capitalism in the Digital Age (Cambridge University Press, December 2022).

The workshop shows why the goal of creating value for customers activates the entrepreneurial spirit, as opposed to industrial-era management, which systematically discourages innovation. It results in principles and processes that enable firms to move more quickly, operate more efficiently, mobilize more resources, attract more talent, and use it more effectively, win over customers more readily, enjoy more elevated market capitalizations, while operating more ethically and delivering on social and environmental goals. The masterclass shows why customer capitalism has been more successful than the other two main options for managing a large firm—shareholder capitalism and stakeholder capitalism—and represents an exciting roadmap for delivering future performance that matters.

Customer capitalism differs fundamentally from industrial-era management including goal, structure, dynamic, leadership, strategy, innovation, operations, marketing, sales, ESG, budget, HR, risk management, and key performance indicators,
Unique features of the masterclass include (a) precise definitions of the principles and processes of customer capitalism as compared to industrial-era management; (b) the use of a diagnostic tool that enables the measurement of the current status of, and progress towards, implementing the principles and processes of customer capitalism at the level of a firm, a unit, a team or an individual; (c) the resulting capability to make comparisons between different parts of a firm, and at different points in time; and (d) the use of real-life case studies; including Amazon, Apple, GE, GEA, Haier, IBM, JP Morgan, Michelin, Microsoft, Novartis, Siemens, and SRI International.

It shows the ways in which the principles and processes of customer capitalism differ from industrial-era management in almost every important respect, REGISTRATION IS FREE BUT PLACES ARE LIMITED!

Information about the speakers

Steve Denning

Senior Contributor, Forbes.com

Steve Denning is a former executive of the World Bank, and is the author of seven books on leadership, innovation, leadership storytelling, and Agile management, as well as a novel and a volume of poems.

His forthcoming book is entitled “Reinventing Capitalism In The Digital Age” and will be published by Cambridge University Press in December 2022.

Since 2011, he has been writing a popular leadership column for Forbes.com, where he is a Senior Contributor. He has published nearly a thousand Forbes articles, with more than 10 million visitors and 20 million pageviews. (http://blogs.forbes.com/stevedenning/)

He has also published more than forty articles for the journal, Strategy and Leadership, including four articles selected as the “Outstanding Article Of the Year.”

Steve is a member of the International Editorial Advisory Board for the Cambridge University Press Element Series on “Reinventing Capitalism.” Steve conducts a series of online executive training courses on digital-age management both in public courses and private courses for individual firms.

Curtis Carlson

Former CEO, SRI International

Curtis Carlson is recognized as a pioneer in developing value creation practices that profoundly improve an enterprise’s innovative performance. He was formerly CEO of SRI International in Silicon Valley from 1998 to 2014. During this time, SRI’s revenue tripled, and SRI became recognized as one of the world’s most productive innovation enterprises, having helped create Siri, HDTV, Intuitive Surgical, and other world-changing innovations.

He is currently Professor of Practice at Northeastern University, and Distinguished Executive in Residence at Worcester Polytechnic Institute.  At Northeastern he created the Carlson-Polizzotto Value Creation Program, an online platform to help enterprises significantly improve their innovative results.  

He started his career at RCA, and then GE, before joining SRI. After SRI he formed a consulting group, The Practice of Innovation (PoI), to share with companies, governments, and universities the practices he developed for improving innovation, education, and economic development.

With William Wilmot he wrote the book “Innovation: The Five Disciplines for Creating what Customers Want,” which was selected by BusinessWeek as a Top-10 Business Book. It describes the innovation principles he learned over his career that have proven to significantly improve innovative output.

He has helped create over two dozen new companies and his teams have won two Emmys, including one for HDTV.  He is a member of the National Academy of Inventors and has advised ministers and prime ministers around the world on innovation practices and innovation policy. He was a member of President Obama’s National Advisory Council on Innovation and Entrepreneurship. 

Miriam Schwarz

SVP, Bank of the West

Miriam Schwarz is the Senior Vice President of the Enterprise Agility Center of Excellence at the Bank of the West. She is recognized for her outstanding work in the corporate industry, both in the United States and internationally. She is a senior delivery executive and transformation change agent dedicated to building a sustainable ecosystem for individuals and organizations.

Miriam’s leadership positions have focused on strategies to enhance business and technology outcomes aligned to Product Delivery, Process Improvement and Agility Transformation. She has worked for companies such as J.P. Morgan Chase, Paramount Pictures, PAREXEL, Health Net, Thomson, Citizens Bank; where she held roles such as SVP – Head of Enterprise PMO and Agile Transformation Lead, Head of Portfolio Center of Excellence, SVP Head of Governance and Practice-Portfolio Delivery Lead, Global Project Management Office Leader.

Miriam is a practicing Product Owner and a Scrum@Scale practitioner. She is the holder of various professional certifications such as: SSBB, Prosci-ADKAR Change Practitioner, DevOps, CSM, IDEO Design Thinking and CSPO. She is active in all things agile and lean, and continuous everything: continuous integration, continuous delivery, continuous learning, and continuous improvement.

Miriam is the Board Chair of the SD Learning Consortium (the SDLC); which is a nonprofit organization whose members are committed to discover together the world’s most advanced agility goals, principles and practices and to disseminate them globally. The Consortium’s vision is to foster agility, bring humanity, discovery, and enlightenment to help organizations evolve into 21st Century practices; current members includes American Express, Bank of the West, C.H. Robinson, Ericsson, and Optum.