Corporate 3.0 - A decentralized Corporation
Let's talk about Corporate 1.0 and Corporate 2.0
Corporate 3.0 is coined by Ada Leow, as well as Corporate 1.0 and Corporate 2.0.
Corporate 1.0 is a slavery-driven corporation. Companies hire and own their employees’ time and resources fully. Employees cannot claim personal rights to their output. All work has to be credited only to the company they work for. They are invisible slaves. Corporate 1.0 is also very restrictive in its employees’ activities.
Corporate 2.0 is a slightly more empowering environment compared to Corporate 1.0. It develops its employees and encourages them to upskill so that they can serve their roles better. Corporate 2.0 is happy even to see an employee join a competitor and happy to welcome that employee back. Corporate 2.0 does not hesitate to credit its employees whenever appropriate.
We are living in an era where we see both Corporate 1.0 and 2.0. In fact, some companies may brand themselves as Corporate 2.0 but in reality they are very much Corporate 1.0.
What is Corporate 3.0 - Decentralized, Democratic, Peer to Peer
Corporate 3.0 is a vision that I want to work towards for Runaway Digital Solutions.
This idea came about after I wrote a post on Web 3.0.
Corporate 3.0 is decentralized, democratic, peer to peer – yes, fully adopted from Web 3.0 idealogy.
It is decentralized – nobody owns anyone and nobody owes anyone.
Employees do not belong to the company and the company has no obligation to provide additional benefits and welfare for employees.
Every individual is considered a skilled worker with full rights to his work. He is contracted to work with the company within a mutually agreed timeline, with a mutually agreed job requirements and pay. This skilled worker should not be monitored and should be allowed the freedom to complete the required tasks at his own time, as long as he completes it within the required timeline. He should also be allowed to take on other roles elsewhere at his own discretion.
It is democratic – it allows freedom of choice and values personal rights to one’s own time and resources.
It is peer to peer – Every individual is motivated by one another and open to learn from one another. There is no hierarchy in Corporate 3.0. Everyone is in the system to perform a role and every role is equal in importance.
Corporate 3.0 is a collaborative environment.
The Current Environment and Forces Pushing for Corporate 3.0
The gig economy is growing as layoffs continue to happen.
Corporate 1.0 is also creating mental health issues for employees. Increasingly, the next generation does not want to accept what Corporate 1.0 has to offer and have decided to carve out their own path.
There is going to be less jobs going around for everyone as AI replaces even more jobs for higher productivity, and entrepreneurship is encouraged.
However, the downside of entrepreneurship in such an environment is – spending power in general is largely reduced. This means that businesses may not be able to survive.
Solopreneurship is the best option.
The whole essence of solopreneurship is – one needs to hone a certain set of competencies that is useful and valued, and use this set of competencies to earn a living on his own.
At the same time, many companies cutting costs have also decided to hire for contract rather than for full time employment where they need to take on more obligations for their hires.
Maybe it’s time we move on to a Corporate 3.0 way of business.
I will be attempting to do so and document the journey along the way.