What does it mean when it comes to second curve in life and businesses? Is it a new curve drawing? Nope. Is it a shopping complex that was just newly opened in my country, Malaysia? Also, nope. The answer here is disclosed……………It means a moment where someone reinventing his or her own self or businesses that often shifts directions and developing latest advanced technologies, new marketing, or customers, after the initial “first curve” has denied, declined or exempted. The “first curve”, has a meaning that refers to the first achievement and success of a business or a person’s career that follow a familiar way and utilize established mechanisms. After the “First curve” unsuccessfully launched or organized, the only method was to use “Second Curve” that marks the point to necessitate an alteration to maintain its relevance and competition. There is a book that has a similar title to it------------------“The Second Curve” that is written by Charles Handy (Irish author and philosopher who was specialised in organisational behaviour and business management) which takes a closer look at distinguishing the chances in the future and representing this as two s-curves visually and significantly. Existing models during the “First Curve” which are failed are potentially destroyed. Thus, it aids in embracing latest technologies and approaches. The maturity of the businesses is split into four stages, where inception comes first, followed by growth, maturity and declination. Before the “First Business” launched to substitute the decline stage, there should be an upcoming strategy, items, mechanisms of monetisation for the company and their businesses. The way where “First Curve” alters into “Second Curve” is known as the method of transitioning. The period of transitioning might take time and challenging, so questions about it will be shown. On the other hand, if the business follows the “First Curve”, or the old trend, paths, the progression of the business will eventually drop. Same goes to its shares, they also decrease. Hence, the companies will face economic crisis.
There are a lot of importances to start a new curve before the “First Curve” ends. What are they? First and foremost, it is prominent in long-term success. It helps in anticipating declinations of businesses. By starting the second curve earlier, the individual can address the inevitable and stagnant decline of the first curve proactively, instead of waiting until it ruined or rejected. They can make sure their long-term sustainability in businesses and thrive into a dynamic world continuously. This provides a framework for planning and investing for future growth areas. Besides that, setting “Second Curve” before the old one ends aids in capitalizing on success. Initializing the new one before the old ones allow one else to leverage the resources, energy, motivations that are high during the “First Curve” peak, and momentum that the person has established. It also means that the resources and energy are optimized to make them easier to be used for experiments and investigations, refining the latest approaches. It aids in accelerating the initial stages of the “Second Curve” and mitigate the transition period.
In addition, “Second Curve” thinking is crucial in reflecting the circumstances that leads to the changes of the new curve. It helps a person or the businesses to understand the factors that lead to the “First Curve” success and recognizing latest opportunities. For instance, Nintendo, which is originated from Japan, is newly invented last time and emphasized on gaming consoles and video games. Not only that, the above mentioned is essential in adapting to changes. From time to time, technology and environment can change. Rapid changing environments and technologies demand constant adaptation and innovation. As people and businesses keep on initiating the “Second Curve”, they can keep track of the curves and capitalize on upcoming chances. This also helps the organizations to adapt in changes in technology, markets and consumer preferences as “Second Curve” emphasizes the needs to distinguish and grow new “seeds”, which is the potential growth areas or skills before they become critical. Apart from that, “Second Curve” allows someone else to develop good moral values and characteristics in life and businesses. Besides being adaptable, competitive, reinventing new methods to form good values, growth, thinking ahead towards future challenges and opportunities before they arise and sustainable long-term success, companies become more resilient, creative and innovative as they keep on creating incentives and inventing to make practices that are economically viable and environment sustainable. It can incorporate ecological concerns into economic models and policies, promoting sustainable development that can be environmental-friendly and at the same time benefits human well-being. It is the future of work that can help businesses to understand the consequences of automation, globalization, and other trends on the labour market and how to prepare for future with diverse talents and employment decorations. For example, authors such as Morrison and Handy transitioned in “Second Curve” successfully, like establishing an application named Microsoft and gadget namely Apple. For the brand Apple, it expands its own products line continuously, especially from smartphones to usable devices, accessories, and sooner became some subscription services, which comprised of Fitness, Apple Music and Apple TV. Despite of enduring declination steadily for five years (year 2015 to year 2020), Apple still has an array of items to remain its development of revenue in the future. Another example was the electric car, or the Ev car. Most of the new cars like Tesla, BMW, Jaecoo, Haval, Proton e-mas 70 and more use electricity to generate. This aids in reducing air pollution and increasing quality of air as it does not emit and produce toxic fumes like carbon dioxide and carbon monoxide.
Moreover, it helps in addressing world’s complex challenges. They help in tackling complex problems like poverty, financial crisis, climate changes, depletion of resources, and social inequalities by collaborating with sustainability and ethical considerations to let the business to make informed economical decisions. It promotes a more equitable society. For instance, earthquake that recently occurred in Thailand and Myanmar. Furthermore, globalization is the key for new ones to pe prepared immediately before the old one’s end. The increase of global interconnectedness and competition necessitates frameworks that can analyse, interpret and manage the sophisticated interplay between local economies and international markets. It means that shares of economies in local countries increase compared to other countries. What’s more, this help in addressing economic inequality more rapidly. New economies aid in solving the reasons and consequences of income disparities, wealth concentrations and distributions efficiently. Not only that, when a person starts new models before the old model ends, productivity can be increased. New economic model is characterized by the rise of productivity due to the utilization of Information Communication Technology (ICT) and more efficient business practices. Therefore, economic growth increases rapidly and potentially has lower risks of inflation. It aids in generating economical incomes. New economic models’ settings are new employment opportunities for people. It helps in creating new careers roles, companies and industries. Thus, employment opportunities are expanded. This contributes to a more different workforce.
When a new curve is started before the old curve ended, it enhances the efficiency economic growth. Information Communication Technology (ICT) can streamline processes, automated assignments and enhance interactions among the local and global trade of markets. It also leads to mitigation of costs and rises of flexibility for businesses. For instance, Shopee and Lazada are invented to for convenience of purchasing items online. They are preparations before the world faces economic crisis that cause prices of items to fluctuate due to Covid-19 pandemics. Additionally, new curves before the old curves are knowledge-based economy. The shift towards a knowledge-based economy refers to the primary input for growth is no longer labour or natural resources, but rather knowledges, intellectual capital and innovation. “Second Curve” is important to substitute “First Curve” earlier to improve quality of life faster. Economic development, fulfilled by the latest economy, can lead to improvements in lifestyles like healthcare, education, and other living standards. For example, companies that innovate machines help customers to conduct activities effectively and conveniently. Other than that, it provides supports for businesses and industries. It provides a stable environment for businesses and industries to attain, fostering innovation, competitions and investments.
Asides from that, “Second Curve” before “First Curve” can reduce the cost of transactions. There are many proofs that the new economy technologies (“Second Curve”) have reduced prices of transactions significantly, such as the invention of Internet that allow access to bank in the money to other individuals or companies accounts productively. This makes the businesses to connect and conduct transactions of cash easier, regardless that it is domestic or international. As well as that, starting a new curve before the old curve ended can shift economic landscape. This new curve of economy has reshaped industries, forming new businesses and influencing traditional business models. It helped to reshape industrial correlations by flattening the hierarchy systems of the businesses, leaning its management and outsourcing non-core activities. In addition to that, it prone to new firm sizes. The new economy can create both minuscule, niche players and humongous firms with economies of scale in information items. Finally, rise of e-commerce is one of its prominences. The increase of e-commerce is a major characteristic of the new economy that offers new methods to conduct businesses and approach consumers.
In conclusion, the introduction of a new curve signifies a notable transformation in economic dynamics. Thus, it is imperative to initiate this new curve before the old one is rendered obsolete, fails, or declines. This will foster economic growth, development, and pave the way for a prosperous global future.
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