adapt or die: a survival guide for a changing world joseph
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© 2017 Million Dollar Round Table Million Dollar Round Table 325 West Touhy Ave. Park Ridge, IL 60068 USA
2017 MDRT Annual Meeting e-Handout Material Title: Adapt or Die: A Survival Guide for a Changing
World Speaker: Joseph W. Jordan Presentation Date: Tuesday, June 6, 2017 Presentation Time: 3:30 - 5:00 p.m. Session Room: Hilton - Orlando Ballroom III The Million Dollar Round Table® (MDRT) does not guarantee the accuracy of tax and legal matters and is not liable for errors and omissions. You are urged to check with tax and legal professionals in your state, province or country. MDRT also suggests you consult local insurance and security regulations and your company’s compliance department pertaining to the use of any new sales materials with your clients. The information contained in this handout is unedited; errors, omissions and misspellings may exist. Content may be altered during the delivery of this presentation.
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Joseph W. JordanAdapt or Die: A Survival Guide for a Changing
World
Survival
“It isn’t the smartest or
strongest species that
survive, it’s the most
adaptable.”
Charles DarwinORIGIN OF SPECIES
Photo Public Domain
External Drivers of Change
• Technology
• Regulations
• Private Sector vs. Government
• Demographics
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TechnologyThe 6 D’s of Exponentials
• Digitized
• Deceptive
• Disruptive
• Dematerialized
• Demonetized
• Democratized
Major Disrupters
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RegulationCommissions Under Pressure
Commissions banned fee for service
Norway Finland United
KingdomNetherlands
Australia
PURPOSE
Living a Life
of Significance
Wheel of Fulfillment
INSPIRED
Pope John XXIII
“The Good Pope”© 2010 The McGraw Hill Companies Inc.
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Person of the Year
“The only purpose
of business is to
generate profits.”
- Milton Friedman
Photo Public Domain
A Change In Capitalism
There is a historic
social transformation of
capitalism underway.
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10/01/98 – 9/30/13
S&P+5.32%
Firms of Endearment +21.17%
“Firms that subscribe to a PURPOSE for being, that is different from and goes beyond making money.”
Wheel of Fulfillment
PURPOSE
Living a Life
of Significance
COMMITMENT
INSPIRED
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Face Your Fears
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Left Brain – Right Brain
What is the defining Issue of the 21st Century?
• Terrorism?
• Global Warming?
• Enrgy?
DISCOVEROctober, 2012
The Aging Population of the World
© 2012 Kalmbach publishing
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“It seems likelythat the futurewill favor womenentrepreneurs”
Millennial Gold Rush
Millennials
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Many people greatly underestimate
the time they will spend in retirement
The Risks
85 92
88 94
9792
65
65
65 At least one person has a chance of
living beyond:
Male
Female
Couple
50% chance of
living beyond
25% chance
of living beyond
Popularretirement
age
Source: U.S. 2000 Actuarial Male and Female Tables
Bloomberg BusinessWeek July 28, 2003 © 2003-2010 The McGraw-Hill Companies Inc.
Everyone Wants to Retire(Preferably before they die)
“We need to
move back in
with your
parents”
Wall Street Journal
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Mother-in-Law
Caregiving Ramifications
are a Particular Issue for Women
Robyn Lewis-Oglesby
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MDRT Excerpt
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Life of Significance