Four Ways Work and Focus Has Changed in a 2% GDP World

by | Nov 29, 2016 | Insights

The Gross Domestic Product (GDP) is one of the primary indicators used to gauge the health of a country’s economy. It represents the total dollar value of all goods and services produced over a specific time period. (Definition from Investopedia.com.)

The higher the growth rate of our GDP (the more we’re producing), the better the outlook is for our economy.

Where are we today? Jeffrey R. Immelt, CEO of General Electric said earlier this year that, “In a world of 2 percent G.D.P. growth, you really have to be good at everything you do.”

What does “being good at everything” mean? How has work – and focus – changed in a lower than typical GDP world? Here’s what we’re seeing:

1. Focus on one thing. Organizations are refocusing on the one thing they want to be good at moving resources there. What’s your one thing? Your company’s?

2. Look at where your industry is headed and prepare now for the future. Think Artificial Intelligence (AI). Think digital industry. What’s changing and what do you need to know/do to be on top of those changes?

3. Change is a constant. Learn and practice the skills you need to be agile and flexible amidst constant transformation and ambiguity.

4. Be a business person first and a functional expert second. Understand the needs of your business, your customers and your team, and apply your functional expertise to meet those needs.

What are you seeing?

Tracy Benson

Tracy Benson

Tracy Benson, Founder and CEO, On the Same Page, LLC, provides executive coaching to senior leaders and their teams in Fortune 500 companies across industries, including: healthcare, pharma, energy, technology, consumer goods, manufacturing, hospitality, defense and financial.

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