Wisdom Networks
My 2nd HBR-McKinsey M-Prize Application for Economic Development 4.0
This is my second application in the M-Prize competition. The first was for Equity Market 3.0. My Economic Development 4.0 M-Prize application can be reviewed here.
The M-Prize
In the first leg of the Harvard Business Review-McKinsey M-Prize for Management Innovation, we’re inviting management innovators from around the world, in every realm of endeavor to share the most progressive practices and disruptive ideas that illustrate how the governing principles and tools of the Web can make our organizations more adaptable, innovative, inspiring, and accountable. Do you have an instructive case study (a Story) or an experimental design (a Hack) that demonstrates how Web 2.0 values (including transparency, collaboration, meritocracy, openness, community and self-determination) can be unleashed to overcome the design limits of Management 1.0—and help to create Management 2.0?“
My application for the M-Prize is based on a simple hack
The M-Prize Application prompted me to think about What is the Hack? Can I articulate it succinctly. Over the years, I have described it in many way. The following is what I came up with today.
I have applied this Hack to two fields of endeavour – Equity Market 3.0 and Economic Development 4.0. My Economic Development 4.0 M-Prize application can be reviewed here. The Economic Development 4.0 presentation is embedded below for your convenience.
In 2011, these are Hacks only designs. By applying Web 3.0 crowdsourcing model, I hope to implement this hack into 20+ financial centres and inspire Economic Development 4.0. The outcomes could become the basis of a story, or case study in 2012.
My application will be dynamic. I will be writing a series of open letters to key economic development players offering to implement the Hack.
